Kirsten Lötter

The rising cost of living and a shortage of affordable housing options have left many South Africans seeking alternative solutions to make homeownership more affordable. One increasingly popular trend is dual occupancy, where homeowners either rent out a portion of their property or co-own a property with a friend or family member.

When homeowners decide to sell their property, one important question arises: should you buy a new home before selling your current one, or sell first and then buy? This decision depends on various factors, such as whether you’re moving locally or to another province or country, whether you have children in school, and the need for a deposit.

First-time homeownership remains a challenging goal for many South Africans, particularly the youth. Despite a brief period in 2020/21 when interest rates were cut to record lows, participation by young buyers, defined as those under 35 years old, has continued to decline steadily since 2010. This is according to insights from the latest FNB Estate Agents Survey that looks at understanding how first-time buyers are navigating a tight monetary policy environment.