What is a bond guarantee?

Before buying your first home, it’s essential to budget for hidden costs beyond the bond repayment. Common expenses include utility fees, municipal rates and taxes, homeowner’s insurance, and ongoing maintenance. Planning for these costs can help first-time buyers in South Africa manage their finances more effectively and avoid unexpected expenses.

For many home buyers, the main focus is on creating a home, often overlooking the investment potential beyond knowing that real estate generally appreciates over time. However, understanding and leveraging your property’s equity can be transformative, helping you manage finances, invest in home improvements, and build wealth.

Buying your first home is an exciting time and it should be the start of many happy years spent enjoying your investment, however, many first-time homebuyers find themselves facing unexpected challenges or wishing they had made different choices.