THE TRUE COST OF BUYING A HOUSE IN SA – WHAT EVERY BUYER SHOULD KNOW
“It is a comfortable feeling to know that you stand on your own ground. Land is about the only thing that can’t fly away.” – Anthony Trollope
With interest and home loan rates at their lowest since 2022, confidence in South Africa’s property market remains strong. Combined with the positive outlook following Budget 2026 and the increased primary residence exclusion, now is an attractive time to buy.
However, when purchasing a home, it’s important to budget for more than just the purchase price. Without proper planning, unexpected costs can place financial strain on buyers—and in some cases, even jeopardise the transaction.
Key Costs Before Transfer
Be sure to plan for:
- Deposit (typically 5%–10%)
- Bond initiation and registration fees
- Transfer duty (on properties above R1,210,000)
- Conveyancing (transfer) fees
- Deeds Office charges
- Rates and levy clearance certificates
- Insurance and possible life cover
- Utility deposits and moving costs
- Occupational interest (if applicable)
After Transfer
Ongoing monthly costs include bond repayments, rates and taxes, levies, utilities, and insurance. You should also allow for once-off and future expenses such as renovations, furnishings, and maintenance.
A clear budget and cash flow forecast will help you avoid surprises and ensure you can comfortably afford your new home.
If you need assistance planning your property purchase, we can assist. Contact Tracey Watson-Gill on 041-5019800 | twg@goldlaw.co.za
