Advice for First-Time Home Buyers

By Charlene Marx, your Paarl Property Expert

1. Where do I start if I want to buy my first home in Paarl?

Start by contacting us for a no-obligation consultation. We’ll help you understand the buying process, calculate what you can afford, and connect you with a bond originator for pre-approval.

2. Do I need a deposit to buy my first home?

Many banks offer 100% bonds, and some even go up to 108% to cover transfer and legal costs. Your approval will depend on your credit profile and affordability.

3. What are the costs involved beyond the purchase price?

First-time buyers should budget for:

• Transfer costs

• Bond registration fees

• Attorney fees

• Initiation and admin fees

  
  

  However, if your bond covers up to 108%, these may be included in your financing. We’ll provide a full cost estimate upfront.

4. What is pre-approval and why is it important?

Pre-approval is when a bond-originator evaluates your income and credit score and based on the bank's requirements will give you the amount you are qualified to buy for. It strengthens your offer and shows sellers you’re serious.

5. Can I qualify for any government assistance as a first-time buyer?

Yes! If your income falls within certain brackets, you might qualify for the FLISP subsidy (Finance Linked Individual Subsidy Programme). We can help guide you through the application.

6. How long does the buying process take?

From offer to registration, the process usually takes 8 to 12 weeks, depending on how quickly the bank grants bond approval and the attorneys process the transfer.

7. Should I buy a new development or an existing home?

Both have pros and cons. New developments may save you transfer duty and offer modern finishes, while existing homes often come with character and larger plots. We’ll help you weigh your options.

8. What should I look for when viewing a property?

Look at the condition of the roof, plumbing, security, layout, and the surrounding neighbourhood. We’ll point out important things during viewings so you make an informed decision.

9. What is a bond originator and do I need one?

A bond originator applies to multiple banks on your behalf to get the best home loan deal. We work closely with trusted originators to simplify the financing process for you.

10. What if I have a low credit score?

Don’t worry—there are steps you can take to improve your credit. We’ll help you understand your credit profile and connect you with professionals who can assist.

🏡 Ready to take the first step toward homeownership?

We love helping first-time buyers turn their dreams into reality! Book a consultation with me via charlene@jawitzproperty.co.za or call +27 72 318 8033 today — we’ll walk the journey with you, every step of the way.