12/09/2026
Most buyers assume they need a fat deposit saved up before they can even start looking. That's not always true anymore. ๐
Banks are approving more 100% home loans these days, which means some first-time buyers can qualify without paying a cent upfront. But here's the catch: plenty of sellers still write a deposit requirement into the offer to purchase, and if you don't read that contract properly, it can catch you completely off guard.
When you do pay a home deposit, it doesn't go to the seller. It sits in the transferring attorney's trust account, protected by law, until the property is registered in your name. And a bigger deposit isn't just about qualifying, it changes your monthly repayment and your negotiating power on interest rate.
Quick breakdown of what a deposit actually does for you:
- Improves your odds of bond approval
- Lowers your monthly instalment
- Reduces total interest over the loan term
- Strengthens your negotiating position with the bank
- Makes your offer more attractive to the seller
So, are you saving toward a deposit right now, or hoping to go the 100% bond route? Tell me in the comments ๐
๐ฒ Call/WhatsApp Jaco on 061 006 9677
Full article with the complete breakdown (savings plan included) โ link below.
https://www.africaestate.co.za/insights/home-deposits-in-south-africa-what-buyers-need-to-know?from=jaco