ThuthukaSA

How do I prepare myself for buying a home?

Preparation improves your chances of getting successful in whatever you do. Buying a home needs preparation because if you don’t prepare, you might find that you miss out on for an example FLISP, the government subsidy for the first time home buyer and that could be as high as R121 626. A home loan is a  20 – year agreement and sometimes a 30 –  year agreement so if you want to do it right and not find yourself regretting soon after you have signed the Offer to Purchase [OTP]. It is best that you arm yourself with as much information as possible. For instance, what if the estate agent wants to charge you a penalty because you signed an OTP and now you don’t have money to pay transfer and bond registration costs?

 

You can purchase a series of four podcasts lasting a total of 1 hour and 30 minutes for R125. The podcasts will give you a lot of information about buying a home and below are the topics covered:

  • Is this the best time to buy a home?
  • Steps to follow when buying a home
  • How much will the bank lend me?
  • What you should know about pre-qualifications
  • When is it too late to buy a home?
  • How do I prepare myself for buying a home?
  • Can you buy a home when you are blacklisted?
  • Should I buy a home first or a car first?

Cost of buying a home

  • What are the legal costs of buying a home?
  • What are the once-off costs of buying a home?
  • What are the monthly on-going costs
  • Does everyone have to pay Estate Duty?
  • How much will the monthly home loan repayments be?
  • What interest rate will the bank give me?
  • Do I qualify for FLISP?
  • Why is it better to use a mortgage originator to help you get a home loan?

Home Insurance

  • What is Home Owners Comprehensive Insurance and what does it cover?
  • What is Credit Life / Credit Assurance / Home Owners Protection policy
  • Why I recommend Life Cover over Credit Assurance / Home Owners Protection policy
  • What is household contents cover
  • Are these insurances mandatory?

Managing your home loan

  • Why it is a good idea to pay extra into your home loan
  • What is an access bond & how to use access bond to your advantage
  • Is it a good idea to fix your home loan rate?
  • How can I pay off my home loan < 20 years
  • Is it a good idea to take a 30 year home loan?
  • Is it a good idea to switch a home loan to another bank?
  • Why I recommend that you do NOT close your account & take your title deed when your home is paid off

Making the most of your home loan

  • What is a further bond & is it a good idea to take one?
  •  What is a re-advance loan & is it a good idea to apply for a re-advance loan?
  • What is a refinance loan?
  • How can I use my home loan to pay off debt? Is this a good idea?
  • Can I use my home  loan to pay school / varsity fees?

 

Our podcast is available for purchase, kindly email us, info@thuthuka-sa.co.za and it will be sent to you once proof of payment is received.

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