Smart Tips For First-Time Home Buyers

January 1, 2021

The process of buying a home for the first time can cause a range of varying emotions. From feeling eager and excited to fearful and hesitant, buying a home for the first time can become a very overwhelming experience.

That is why it is best to go into the process with a solid game plan.

With all the different types of property for sale in George, Mooikloof Country Estate wants to give you some tips to keep in mind while you are on the hunt for the right home.

Why is it important to have a plan when buying a new home?

When buying a new home, there is a lot more to consider than just the initial price and the initial look of a home. Some tips to keep in mind are:

1. Make sure of your budget.
There are many home loan calculators that can help you to determine your budget using an estimate of the monthly repayments you can afford. It will also help you determine the amount you will be able to borrow from a bank based on your credit score.

Knowing your budget enables you to realistically look at different properties within your reach.

2. Don’t forget the extra costs.
When it comes to buying a home, there are several additional costs to keep in mind. Many of these will only be once-off, but it is important to factor them in from the start of your search.

These costs include the initial deposit on your loan, the transfer duties, conveyancing fees and the deed registration.

If you are buying in a complex there may also be additional special levies that occur above and beyond the normal rates, taxes and levies. These special levies are used by the complex to pay for big investments such as security upgrades or maintenance costs such as painting or gardening.

3. Remember costs of personal projects and maintenance.
When buying a home you must also consider the costs of projects you would like to do at the home, furniture you want to buy, changes you want to make and the general upkeep of the home itself.

Also consider the maintenance of amenities such as a pool, a garden or the security in and around the home.

4. Learn more about the property and surroundings.
Knowing more about your purchase will enable you to make the right decisions when buying your first home. Buying solely based on the fact that the house looks nice on the surface and is within budget can bring out long term problems later on.
Here are a few questions to ask yourself before committing:

  • Is the home you are buying new or old?
  • Does it have any structural problems? (Such as damp, cracked walls etc.)
  • Is the home situated in a central, clean and safe neighborhood, estate or complex?
  • Does the home accommodate pets and children?
  • How is the security at the home/complex?

5. Get your paperwork ready before applying for a loan.
Applying for your home loan will be the last step in the process, but make sure everything you need to apply is ready when you begin your search.

Below is a short checklist of everything you might need to apply online or at your nearest banking branch:

  • Your valid South African ID.
  • Tax returns.
  • Proof of income.
  • Bank statements and other assets.
  • Photo ID.
  • Credit history.
  • Rental history.
  • Gift letters, if friends and family are helping you to make the purchase. These letters must state that the money given was a gift and not a loan.

More about buying in the Garden Route

When it comes to property for sale in the Western Cape, there are many potential homes which can be a sound investment. Due to the tourism and natural beauty of the Garden Route, real estate in the area has become a hot commodity, sought after by many looking to invest for the future.

Because this area offers a lifestyle that’s hard to find anywhere else in South Africa, people are eager to make the move. With long stretches of beaches, the Knysna forest, a wide range of outdoor activities complimented by peaceful leisurely lifestyle, there is no denying the appeal of the Garden Route.

Mooikloof Country Estate is a secure complex that offers you full access to the Garden Route and it’s many attractions while securing you a sound investment for the future.

The benefits of buying in Mooikloof for first-timers.

Buying in Mooikloof gives you access to a brand new home that offers:

  • A safe home in a security complex suitable for the entire family, including pets.
  • Easy access to schools in George.
  • Conveniently near to shopping centres and malls.
  • Close to outdoor activities like hiking, diving and golfing.
  • Quick access to transport solutions like the N2, George airport.
  • Buying a brand new home directly from the developer, cutting costs.
  • Offering houses from as little as R997 000, you can also take advantage of the transfer duty threshold recently implemented, saving you invaluable Rands.

Buy a home today

If you are in the area feel free to book a tour of our new development with one of our agents, available 7 days a week to give you a tour of our showhouse and the development!