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6 COMMON QUESTIONS ASKED BY FIRST-TIME HOME BUYERS

6 COMMON QUESTIONS ASKED BY FIRST-TIME HOME BUYERS

Buying your first home can be both exhilarating and terrifying at the same time. If you are feeling overwhelmed, know that you are not alone. Navigating the world of property and property finance for the first time can be overwhelming. The best way to overcome this is by asking all the right questions. To help make the home buying process easier for first-time buyers, we’ve answered 6 of

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WHAT IS THE COOLING-OFF PERIOD WHEN BUYING A HOME?

WHAT IS THE COOLING-OFF PERIOD WHEN BUYING A HOME?

When buying a property, you have to be 100% sure of your decision because once the offer to purchase is signed by both the purchaser and the seller, it becomes a legally binding document. But, what if you change your mind or realise it was not the right decision? Is it possible to cancel the contract? Well, in certain very limited circumstances where the cooling off period is applicable, yes&helli

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BEFORE YOU FIX YOUR HOME LOAN’S INTEREST RATE…

BEFORE YOU FIX YOUR HOME LOAN’S INTEREST RATE…

When interest rates begin to climb after a period of stability, many homeowners understandably begin to consider fixing their interest rates, and fast. However, this might not always end up saving them money in the long run. Carl Coetzee, chief executive of BetterBond, says there is not a simple answer when it comes to evaluating the benefits of a fixed interest rate compared to a variable inte

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HOW LONG IS AN OTP VALID IN SOUTH AFRICA?

HOW LONG IS AN OTP VALID IN SOUTH AFRICA?

Buying a new house is all so exciting. Once you’ve found the dream home and have submitted the Offer To Purchase (OTP), it becomes a bit of an anxiety-inducing waiting game to see if the seller will accept your offer or if you will need to start the hunt all over again. But, exactly how long is an OTP valid and what can and can’t be stipulated therein? But first, what is the OTP?

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INTEREST RATE HIKING CYLCE CONTINUES

INTEREST RATE HIKING CYLCE CONTINUES

The cycle of interest rate hikes continues following the latest announcement by the Monetary Policy Committee (MPC). The repo rate climbs by 50 basis points to 4.75%, leaving the prime lending rate at 8.25%. Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett, says that this decision was predictable and in line with other statements provided by the MPC. “My hope is that

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RE/MAX SA CONVENTION 2023

RE/MAX SA CONVENTION 2023

Southern Africa’s largest real estate franchise, RE/MAX, has recently announced that it will hold its first national convention since the pandemic. This two-day convention will take place in Sun City, Johannesburg, on 15-17 February 2023. This convention promises to be the biggest one yet, as the brand has seen exceptional growth since the pandemic hit over two years ago. “We’

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CREDIT SCORE TIPS FOR FIRST TIME HOME BUYERS

CREDIT SCORE TIPS FOR FIRST TIME HOME BUYERS

If you are buying your first home, chances are you need a home loan. Having the right credit score is your first step towards securing the funds you need. Your score could affect anything from credit approval and the principal amount you qualify for, to the interest rate on the mortgage. The higher the credit score the better, but what is it and what affects it? Let’s have a look at these qu

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RE/MAX ANNUAL COATS & CANS DRIVE

RE/MAX ANNUAL COATS & CANS DRIVE

It can feel overwhelming to think how you might be able to help those in need when issues of hunger, unemployment, and homelessness continue to grow each year. But, each small contribution can go a long way towards improving the lives of those living within Southern Africa. “As a way of giving back to our local communities, we will be running our annual Coats & Cans drive where people

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RE/MAX NATIONAL HOUSING REPORT Q1 2022

RE/MAX NATIONAL HOUSING REPORT Q1 2022

Rising Interest Rates Impact Housing Market Activity Following a season of unprecedented sales volumes, activity within the South African Housing market has begun to subside, most likely as a result of the interest rate hiking cycle that started in November last year. According to Lightstone Property data, a total of 36,685 bond registrations were recorded at the Deeds Office over the perio

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TOP TIPS FOR PAYING OFF YOUR PROPERTY BOND EVEN FASTER

TOP TIPS FOR PAYING OFF YOUR PROPERTY BOND EVEN FASTER

When buying a house, very few people can purchase without securing a home loan first. The monthly home loan repayment amount can be quickly estimated using a Bond repayment calculator, but it’s important to remember that there are other costs associated with a home purchase too. From transfer duties to the tax levied, as well as conveyancing, initiation and bond registration fees, the costs

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SHOULD YOU BUY OR BUILD A NEW HOME?

SHOULD YOU BUY OR BUILD A NEW HOME?

We all love to dream about our perfect home, but is it better to hunt for that already existing property or should you build your very own dream house from scratch? Let's explore this very important question together … What are the advantages of buying a home? If you’ve decided to buy rather than build, here are some of the advantages you can look forward to enjoying: 1.

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WHAT ARE THE BENEFITS FOR FIRST-TIME HOMEBUYERS?

WHAT ARE THE BENEFITS FOR FIRST-TIME HOMEBUYERS?

Have you ever wondered if there are any benefits to being a first-time home buyer or if the South African government helps first-time homebuyers in any way? There are a few perks to buying a house in South Africa for the very first time. To start, there is a government subsidy that makes homeownership a reality for those entering the market for the very first time, namely the Finance Linked Indivi

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