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Taking your first steps on the property ladder.

Category Hendra Knows

Taking your first steps on the property ladder.

For many South Africans owning property is a lifelong dream. Getting the deposit together is one thing but ensuring that you're eligible for a mortgage is another. Here are the steps we suggest you take when trying to move up the property ladder;

  1. SAVE SAVE SAVE! Saving isn't always easy though, and sometimes it's simpler talked about than actually done. When it comes to accumulating enough cash for a deposit, there are several routes to getting there: for some people, a deposit for a home is handed to them on a plate - perhaps through inheritance, but for most, however, saving up is the only way.

  1. Find a Mortgage; Once you have the cash for a down payment, the next step is to look for a mortgage provider. There's no hard and fast rule about how much you'll be able to borrow it'll depend on a number of factors, including the particular lender and also what your own personal financial circumstances are. 

  1. Invest in your future; It's about forecasting your behavior, earnings and more over the course of the next few years - or even decades. For this reason, getting on to the property ladder isn't enough: you also have to ensure that you'll be able to pay your mortgage and maintain the property as time goes on. 

Contact us at Hendra to view our latest listings and we will help you find the best investment as you climb the ladder!

Author: Wayne Hendra

Submitted 20 Aug 19 / Views 214