The Ultimate First-Time Homebuyer’s Guide: From House Hunting to Moving In
Contact Us

Buying your first home is an exciting milestone, but it can also feel overwhelming. From securing financing to finding the right property, there are many steps involved. This guide will walk you through everything you need to know as a first-time homebuyer, helping you make confident and informed decisions.

Step 1: Assess Your Financial Readiness

Before you start house hunting, it’s essential to understand your financial situation. Here are key factors to consider:

  • Check Your Credit Score: Your credit score affects your ability to secure a home loan and influences your interest rate.
  • Save for a Deposit: In South Africa, most banks require a deposit of at least 10% of the property’s value, though having 20% can help you get better loan terms.
  • Calculate Affordability: Use online home loan calculators to estimate how much you can afford based on your income and expenses.
  • Understand Additional Costs: Budget for transfer duties, bond registration fees, legal costs, and moving expenses.

Step 2: Get Pre-Approved for a Home Loan

A home loan pre-approval gives you a clear budget and strengthens your position when negotiating with sellers. Here’s how to do it:

  1. Compare different banks and lenders to find the best interest rates.
  2. Submit your financial documents, including proof of income, bank statements, and ID.
  3. Get pre-approved to determine your borrowing capacity.

Step 3: Define Your Home Requirements

Before you start viewing properties, list your must-haves and nice-to-haves. Consider:

  • Location: Proximity to work, schools, transport, and amenities.
  • Property Type: House, apartment, townhouse, or sectional title?
  • Size and Layout: Number of bedrooms, bathrooms, and living space.
  • Security Features: Gated estates, alarm systems, or security patrols.
  • Potential for Growth: Will the property appreciate in value?

Step 4: House Hunting and Viewing Properties

Once you have a budget and clear requirements, start searching for homes:

  • Online Listings: Browse property websites like Private Property, Property24, and agency listings.
  • Work with an Estate Agent: A good agent (like PropWiz!) can help you find properties within your budget and guide you through the process.
  • Attend Show Days: Physically visiting a property gives you a better sense of its condition, layout, and neighbourhood.

Key Things to Check During a Viewing:

  • Structural issues (cracks, leaks, dampness)
  • Security features and crime statistics in the area
  • Traffic and noise levels
  • Future developments that may affect property value

Step 5: Making an Offer and Negotiating

Once you find the perfect home, it’s time to make an offer:

  1. Determine a Fair Offer: Research similar sales in the area.
  2. Make an Offer to Purchase (OTP): This is a legally binding document outlining the price, conditions, and timelines.
  3. Negotiate: Sellers may counter your offer, so be prepared to adjust your terms.

Step 6: Home Loan Approval and Legal Process

If your offer is accepted, the home loan application process begins:

  • Final Home Loan Application: Submit the OTP, proof of income, and bank statements to the lender.
  • Property Valuation: The bank will assess the home’s value to ensure it aligns with the loan amount.
  • Approval and Bond Registration: Once approved, attorneys will handle the legal paperwork to transfer the property to your name.

Step 7: Preparing for Moving Day

Once the legal process is complete, it’s time to plan your move:

  • Get Home Insurance: Protect your investment with comprehensive coverage.
  • Arrange Utilities: Set up electricity, water, and internet before moving in.
  • Plan Your Move: Hire movers, update your address, and notify service providers.

Step 8: Settling into Your New Home

Congratulations, you’re officially a homeowner! Now it’s time to make your house a home:

  • Inspect the Property: Ensure all agreed-upon repairs are complete.
  • Secure Your Home: Install security systems or change locks if necessary.
  • Meet Your Neighbours: Building good relationships can enhance your living experience.
  • Start Maintenance Routines: Regular upkeep ensures your home remains in excellent condition.

Final Thoughts

Buying your first home is a big step, but with the right preparation and guidance, it can be a smooth and rewarding journey. Whether you need help finding the perfect property or navigating the buying process, PropWiz is here to assist you every step of the way.

Looking for your dream home? Contact PropWiz today and let us help you find the perfect fit!


  • The Ultimate First-Time