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Different types of homes to consider

Homes come in all shapes and sizes, here is an overview of what you can expect to find in the market…

What type of home are you looking for?

Once you have a list of preferred neighbourhoods for your search, it's time to decide the type of homes that you wish to view.

How to choose the best area to live in

When you buy a home you are also buying into the neighbourhood. That’s why it’s important to identify what you are looking for.

How the interest rate affects you

To know how the interest rate affects you, you have to first understand that interest is essentially a lending fee that the Bank charges you.

Monthly home loan instalments

Your monthly instalments are made up of the amount needed to repay the loan amount and a portion of the interest on that loan amount.

Homeowners insurance

When you apply for a home loan you will find that homeowners insurance is mandatory as it covers your property against loss and damage.

Rates, taxes and levies

These fees are dependent on your property type and are paid to the authority that services your property such as a body corporate or municipality.

These fees are charged by your local municipality for the use of water and electricity.

Apply for a pre-qualified home loan

Applying for a pre-qualified home loan is a vital step as it will confirm the bond amount that you qualify for.

What home can you afford?

Working out how much you can afford when buying a home is simple. Your bond repayments shouldn't exceed 30% of your monthly income.

Check your credit profile

Knowing your credit status is important when applying for your first home loan.

Save for a home deposit

Your first step before entering into the property market should be saving towards a home deposit.