Buy a home in seven steps
As the leading home loan provider in South Africa, we strongly believe in fulfilling our purpose of helping South Africans own a home. Let us help you get closer to your dream with our easy-to-follow guide.
1. Work out what you can afford
Use our bond calculators to get an idea of how much you can borrow, and what your monthly repayments will be over your agreed-upon terms.
It’s also worth seeing if you qualify for a government subsidy or one of our affordable housing options.
2. Decide how much you want to borrow
You can borrow up to 100% of the property’s purchase price. Registering a bond for a higher amount means you can borrow extra later, without registering a second bond.
If you are a first-time buyer, you can get up to 105% for a purchase price of R1.8 million or less, and use the extra 5% towards transfer and bond registration costs.
3. Find your dream home
When viewing properties, check for signs of damp or structural damage, and anything else that you will have to spend more money on once you’ve moved in, such as kitchen or bathroom renovations.
You might also want to have a look at repossessed properties for sale through online auction as transfer duties don’t apply to these properties.
Have a look at Standard Bank houses for sale at MyRoof properties.
4. Do research on the home
You can make more informed decisions about buying a property when you know how old it is, what it last sold for, and how it compares to similar properties in the same or different areas.
With our free property guide to homes across South Africa, you can get relevant information and key insights on the estimated value of your dream home, so you can buy with confidence.
Explore our LookSee property guide.
5. Consider a property inspectionWhen buying a new home getting a property inspection report is one of the best ways to understand areas that may need attention.
A property inspection report could save you from unforeseen expenses such as expenses for substandard workmanship or lack of maintenance.
You can also get a property inspection done when selling your home or just want to maintain the one you live in.
Note: As a buyer you will need to get the property owner to complete a "consent form" permitting us to do the property inspection. This form is emailed to you with the quotation.
Request a Property Inspection Service
6. Make an offer to purchase
Once you’ve found the home you want, you’ll need to put in an offer to buy it.
If your offer is accepted, you and the owner must sign your offer to purchase. You may submit a copy of the offer when applying for your home loan.
7. Apply for a home loan
You can apply for a home loan on your own, or as a trust or business, or make a joint application with your spouse or partner.
- Apply online
- Call us on 0860 500 000 between 8am and 5pm during the week
- Or speak to us at your nearest branch
We’ll be in touch to confirm your home loan and personalised interest rate and arrange a time for you to come in and sign your home loan contract.
8. Insure your home
When you accept a home loan, it’s important to apply for building insurance for the duration of your home loan. We offer four types of insurance:
Covers the building structure damage caused by fire, storms, theft or burst geysers.
Home contents insurance
Covers the contents from loss or damage caused by theft, fire or storms.
Car and home insurance
Comprehensive insurance that covers your building and vehicle.
Home loan protection plan
Takes care of your bond repayments or pays off your bond in the event that you are unable to do so.
Click here for more information and a quote.
Buying your first home is exciting, but it can also be a little scary. Make sure your joy is not overshadowed by concerns about debt with our home buying tips.
With an access bond facility on your home loan, you won’t have to take out a personal loan to cover unexpected expenses such as fixing your pool or repairing your roof.
Buying an investment property can be a savvy decision if you have factored in all of the costs and risks.
A pension-backed home loan (as per the Pension Funds Act 19 (5) (a) and 37D) is an alternative form of housing finance where the loan is secured by your retirement fund savings instead of a mortgage bond.
We can help you sell your property, settle your bond get your credit record back on track with EasySell
Get cover for structural damage caused by fire, storms, theft or burst geysers.
If something happens and you can’t keep paying your bond, you can still protect your home and family with the right cover.
It takes years to furnish your home, and just seconds for your hard work to be undone. With the right cover, it won’t take as long the second-time round.