Clicky

Expert advice for first-time home buyers

By: Lifestyle Reporter

Over the past few weeks, viewers have been taken on a journey to see exactly what life is like as a real estate agent in Johannesburg as ‘Listing Jozi’ flights on BBC Lifestyle. The popular series follows the daily hustle of five high-end brokers competitively listing and selling high-end local properties from R5 million to over R60 million.

The realtors featured in Listing Jozi are a combination of some still in the process of building successful careers in the business to others already at the top of their game, each with lessons to learn and tips to share on the exciting world of the fast-paced Jozi property market. They include Jabulile Mazibuko, Ryan Kwan and Edgar Nche from Law Real Estate as well as Lara Nathan from Pam Golding Properties and Grahame Diedericks from Lew Geffen Sotheby’s International Realty.

Now, with interest rates being at their lowest in approximately 50 years as a result of the Covid-19 coronavirus pandemic, more and more first time buyers are purchasing a house. Naturally, the decision to buy property is a daunting one and, for many, it will be the biggest financial decision of their lives. So, we’ve enlisted the expertise of the cast to share some important tips they wish they knew when they purchased their first property.

READ: Your quick guide to property auctions in South Africa

Plan before committing yourself financially

With so many properties on the market at any given time, it’s important to know where to draw the line in terms of budget to make sure that you live comfortably while paying off your bond. Edgar Nche says that “Everything seems impossible until you break it down into your own understanding which is why planning is important when it comes to committing yourself financially.” He adds “Start your journey by doing a credit check to see what the loaning institution are willing to loan you based on your affordability and stick within a budget that you feel comfortable with.” Edgar explains that “Once you have identified your ideal home, make sure you confirm and are aware of the transfer and bond cost of the particular property you have placed an offer to purchase on.”

Compile a checklist and check that the property ticks your boxes

Walking into a potential home often comes with an overwhelming amount of emotions. Often times, one doesn’t have too much time to spend at the property before putting in an offer to purchase. So, Lara Nathan says that planning ahead can make or break a decision. “Having a checklist can assist in narrowing your search down to the home that meets most of your requirements,” Lara explains. “Find the home that ticks most of your boxes and make the rest work.”

READ: Women in Property: Zamantungwa Khumalo on Kaya Bizz

Location Location Location!

When it comes to buying your first property, Grahame Diedericks explains that the location of the property is extremely important. Buying in an up-and-coming area means that you will likely see return in your investment should you ever decide to sell. Similarly, buying in a less likeable area could mean that you could land up selling your property cheaper than the price you paid for it.

Don’t overthink it

For many first time buyers, purchasing a home often signifies a momentous occasion in their lives. Naturally, because of the massive financial cost of a home, Ryan Kwan reveals that many first time buyers overthink the small details when it comes to buying their first property. “Buying a home is massive decision and can often be a scary one too, especially when it’s your first home. First time buyers often fall into the trap of overthinking every little detail by trying to find the perfect home,” Ryan reveals. However, he does have some tips on how to navigate your first step in the property world. Echoing the advice of Lara Nathan, Ryan says “Have basic checklist and stick to your budget in an area you are comfortable with. Remember your first home is not your forever home!”

Catch ‘Listing Jozi’ on Wednesdays at 8pm on BBC Lifestyle (DStv channel 174).

READ: Buying or selling in a volatile property market

Written by: Poelano



UpComing Shows

DownLoad Our Mobile App

Privacy Policy

THIS PRIVACY STATEMENT FORMS PART OF KAYA 959’S TERMS OF USE POLICY. IF YOU DO NOT AGREE WITH ANY TERM OF THIS PRIVACY STATEMENT, YOU MUST CEASE YOUR ACCESS OF THIS WEBSITE IMMEDIATELY. 

POPIA ActTo promote the protection of personal information processed by public and private bodies; to introduce certain conditions so as to establish minimum requirements for the processing of personal information; to provide for the establishment of an Information Regulator to exercise certain powers and to perform certain duties and functions in terms of this Act and the Promotion of Access to Information Act, 2000; to provide for the issuing of codes of conduct; to provide for the rights of persons regarding unsolicited electronic communications and automated decision making; to regulate the flow of personal information across the borders of the Republic; and to provide for matters connected therewith.

RECOGNISING THAT—

  • section 14 of the Constitution of the Republic of South Africa, 1996, provides that everyone has the right to privacy;
  • the right to privacy includes a right to protection against the unlawful collection, retention, dissemination and use of personal information;
  • the State must respect, protect, promote and fulfil the rights in the Bill of Rights;

AND BEARING IN MIND THAT—

  • consonant with the constitutional values of democracy and openness, the need for economic and social progress, within the framework of the information society, requires the removal of unnecessary impediments to the free flow of information, including personal information;

AND IN ORDER TO—

  • regulate, in harmony with international standards, the processing of personal information by public and private bodies in a manner that gives effect to the right to privacy subject to justifiable limitations that are aimed at protecting other rights and important interests,
  1. Definitions and Interpretation

1.1.“Personal Information” means information relating to an identifiable, living, natural person and where it is applicable, identifiable, existing juristic person, including all information as defined in the Protection of Personal Information Act 4 of 2013. 

1.2  Parliament assented to POPIA on 19 November 2013. The commencement date of section 1Part A of Chapter 5section 112 and section 113 was 11 April 2014. The commencement date of the other sections was 1 July 2020 (with the exception of section 110 and 114(4). The President of South Africa has proclaimed the POPI commencement date to be 1 July 2020.

 
1.3. “Processing” means the creation, generation, communication, storage, destruction of personal information as more fully defined in the Protection of Personal Information Act 4 of 2013.  

1.4. “You” or the “user” means any person who accesses and browses this website for any purpose. 

1.4. “Website” means the website of the KAYA 959 at URL www.kaya959.co.za or such other URL as KAYA 959 may choose from time to time.   

  1. Status and Amendments

2.1. KAYA 959 respects your privacy. This privacy policy statement sets out KAYA 959’s information gathering and dissemination practices in respect of the Website. 

2.2. This Privacy Policy governs the processing of personal information provided to KAYA 959 through your use of the Website. 

2.3. Please note that, due to legal and other developments, KAYA 959 may amend these terms and conditions from time to time.  

  1. Processing of Personal Information

3.1. By providing your personal information to KAYA 959 you acknowledge that it has been collected directly from you and consent to its processing by KAYA 959. 

3.2. Where you submit Personal Information (such as name, address, telephone number and email address) via the website (e.g. through completing any online form) the following principles are observed in the processing of that information: 

3.2.1. KAYA 959 will only collect personal information for a purpose consistent with the purpose for which it is required. The specific purpose for which information is 
collected will be apparent from the context in which it is requested. 

3.2.2. KAYA 959 will only process personal information in a manner that is adequate, relevant and not excessive in the context of the purpose for which it is processed. 

3.2.3. Personal information will only be processed for a purpose compatible with that for which it was collected, unless you have agreed to an alternative purpose in writing or KAYA 959 is permitted in terms of national legislation of general application dealing primarily with the protection of personal information. 

3.2.4. KAYA 959 will keep records of all personal Information collected and the specific purpose for which it was collected for a period of 1 (one) year from the date on which it was last used. 

3.2.5. KAYA 959 will not disclose any personal information relating to you to any third party unless your prior written agreement is obtained or KAYA 959 is required to do so by law. 

3.2.6. If personal information is released with your consent KAYA 959 will retain a record of the information released, the third party to which it was released, the reason for the release and the date of release, for a period of 1 (one) year from the date on which it was last used. 

3.2.7. KAYA 959 will destroy or delete any personal information that is no longer needed by KAYA 959 for the purpose it was initially collected, or subsequently processed. 

3.3. Note that, as permitted by the Electronic Communications and Transactions Act 25 of 2002, KAYA 959 may use personal information collected to compile profiles for statistical purposes. No information contained in the profiles or statistics will be able to be linked to any specific user.    

  1. Collection of anonymous data

4.1. KAYA 959 may use standard technology to collect information about the use of this website. This technology is not able to identify individual users but simply allows KAYA 959 to collect statistics. 

4.2. KAYA 959 may utilise temporary or session cookies to keep track of users’ browsing habits. A cookie is a small file that is placed on your hard drive in order to keep a record of your interaction with this website and facilitate user convenience. 

4.2.1. Cookies by themselves will not be used to identify users personally but may be used to compile identified statistics relating to use of services offered or to provide KAYA 959 with feedback on the performance of this website. 

4.2.2. The following classes of information may be collected in respect of users who have enabled cookies: 

4.2.2.1. The browser software used; 

4.2.2.2. IP address; 

4.2.2.3. Date and time of activities while visiting the website; 

4.2.2.4. URLs of internal pages visited; and 

4.2.2.5. referrers. 

4.3. If you do not wish cookies to be employed to customize your interaction with this website it is possible to alter the manner in which your browser handles cookies. Please note that, if this is done, certain services on this website may not be available. 

  1. Security

5.1. KAYA 959 takes reasonable measures to ensure the security and integrity of information submitted to or collected by this website, but cannot under any circumstances be held liable for any loss or other damage sustained by you as a result of unlawful access to or dissemination of any personal information by a third party. 

  1. Links to other websites

6.1. KAYA 959 has no control over and accepts no responsibility for the privacy practices of any third party websites to which hyperlinks may have been provided and KAYA 959 strongly recommends that you review the privacy policy of any website you visit before using it further. 

  1. Queries

7.1. If you have any queries about this privacy policy please contact us by emailing [email protected]