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Buying a House in Your 20s or 30s? Here’s the Game Plan

 

 

 

 

So you’ve hit your mid-20s or early 30s, and adulting just got real. Maybe you’re tired of renting, moving flatmates, or pouring money into someone else’s bond. You're thinking… “Could I actually buy my own place?”

 

 

Here’s your game plan.

 

As a mortgage originator in South Africa, Cromox Ultimate Finance has helped multiple first-time buyers (just like you) score their first home loan, with the best possible rate. Whether it’s your first bachelor pad in the city or a starter family home in the suburbs, here’s what you need to know:

 

 

Step 1: Know Your Numbers

 

Before you start looking at dream homes on Property24, get real with your finances. Here's what to figure out:

 

- Your monthly income (after deductions)

 

- Existing debt (student loans, credit cards, car finance)

 

- Savings (ideally for transfer & registration fees, we’ll explain this below)

 

- Your credit score (we'll check it for free).

 

Pro tip: Banks want to see that you can afford your monthly bond plus living expenses. The sweet spot? No more than 30% of your income going toward your bond.

 

 

Step 2: Use a Mortgage Originator (Like Us 😉)

 

This isn’t your parents’ way of getting a bond. You don’t have to walk into 4 banks, fill out the same forms, and hope for the best.

 

As a mortgage originator, Cromox Ultimate Finance does all the work for you:

 

- We apply to multiple banks at once 

 

- Negotiate the best rate we can get based on your credit profile

 

- Guide you on paperwork, timelines, and what not to do (like quitting your job mid-application 😬)

 

Bonus: You don’t pay us, the bank does.

 

 

Step 3: Take Advantage of Dropping Interest Rates

 

South Africa’s prime lending rate is now at 10.75%, and it's edging lower. That means:

 

- Lower monthly bond repayments Bigger chance to qualify

 

- Long-term savings (we’re talking thousands over 20 years)

 

Waiting could mean missing out on a golden window. If you’ve been on the fence, now’s the time to move.

 

 

Step 4: Budget for the Extra Costs

 

Buying a home doesn’t end at the sale price. Here’s what first-time buyers often forget:

 

- Transfer Fees, paid to the transfer attorney

 

- Bond Registration Fees – paid to the bank’s attorney

 

- Moving costs, rates, utilities, and maybe new curtains because you deserve nice things.

 

We’ll help you estimate all of this upfront, so no nasty surprises later.

 

 

Step 5: Get Pre-Approved

 

Before you fall in love with a house on Facebook or Instagram… get pre-qualified.

 

This tells you:

 

- How much you can spend

 

- What monthly repayment to expect

 

- What deposit (if any) you’ll need

 

It also gives sellers confidence and they’ll take your offer seriously because you’re a “ready-to-go” buyer.

 

 

Let Cromox Ultimate Finance be your guide

 

From the first "I wonder if I can..." to the day you walk into your new home, we're in your corner.