First-Time Buyer Guide

• Check your credit score at TransUnion or Experian before approaching a bank
• Calculate your affordability — banks allow up to 30% of gross income on debt repayments
• Use a bond originator (ooba, BetterBond) to apply to multiple banks simultaneously at no cost
• Get a formal pre-qualification letter before you start viewing properties

• Transfer duty: government tax on properties above R1.1M (scales with price)
• Transfer attorney fees: approx. R20,000–R30,000 depending on purchase price
• Bond registration fees: approx. R15,000–R20,000
• Moving costs, utility connections, and initial home expenses: budget R20,000+
• Rule of thumb: have 10–12% of purchase price in cash beyond your deposit

• Define non-negotiables (bedrooms, school catchment, commute) separately from nice-to-haves
• View a minimum of 10 properties before making an offer — calibrates your sense of value
• Check the monthly levy and special levies for sectional title properties
• Ask for rates, taxes, and HOA levy amounts on every property you view seriously
• Research recent sale prices in the area using the Deeds Office or a property valuation report

• The Offer to Purchase (OTP) is legally binding — read every clause before signing
• Include a suspensive condition for bond approval (typically 21–30 days)
• Specify clearly which fixtures and fittings are included in the sale
• Deposits go to the conveyancing attorney's trust account — never pay directly to a seller
• Use a registered estate agent — they are bound by the PPRA code of conduct

• Transfer is handled by a conveyancing attorney appointed by the seller
• Your bond attorney registers your home loan simultaneously
• Provide all FICA documents promptly to avoid delays
• Allow 8–12 weeks from OTP signature to registration
• You take occupation on the date specified in the OTP — ensure this is clearly agreed

Transfer Duty Table (2025/26)

Source: SARS Transfer Duty guidelines. Rates are for individuals; different rates apply to companies and trusts.