1. The best budget-friendly suburbs
Zaslansky:
- Midrand: Apartments and townhouses in Vorna Valley and Halfway Gardens from R600 000 and two-bedroom houses in Halfway Gardens from R795 000. Two-bedroom clusters in Midrand priced from R600 000.
- West Rand: Wilgeheuwel offers clusters with two bedrooms, one bathroom and two garages from R800 000, and there are homes in Amarosa from R900 000. In Cosmos City one can buy a two or three-bedroom house on a good size stand from around R550 000.
- Centurion: In Highveld, small houses start at around R800 000. In Kosmosdal prices start at R600 000 for a two-bedroom apartment and R1.2-million for a three-bedroom, two-bathroom house with a double garage.
- Johannesburg North East: In Corlett Gardens, it costs around R550 000 for a one-bedroom garden apartment and around R900 000 to R1-million for a three-bedroom, two-bathroom duplex apartment with garden. Bramley View offers one-bedroom apartments at prices from R375 000 and three-bedroom duplex units with gardens at prices from R700 000.
Hunkin:
South of Johannesburg: Suburbs like Winchester Hills, Ridgeway, Meredale, Randhart, New Redruth, Tulisa Park, Elandspark, and even Mondeor, although prices here are rising.
Buyers can expect to pay between R500 000 and R600 000 for a two-bedroom, one-bathroom townhouse and between R1.2-million and R1.3-million for a three-bedroom, two-bathroom family home with a garage in these areas – and they will have a good choice of available properties at these prices.
2. How to choose, and budget to buy
Zaslansky:
Things for first-time buyers to look for include choosing the right neighbourhood:
- Homes with the minimum number of bedrooms and a living area to suit their current needs and lifestyle.
- Proximity to public transport.
- Homes that are in good condition, with no damp, cracks, or faulty utilities.
Hunkin:
- Sectional title flats or townhouses are generally the best choices for first-time buyers.
- Smaller full title homes may allow for future additions but could lead to over-capitalization.
3. Tips to save for the deposit
Both Zaslansky and Hunkin point out that first-time buyers may not need a deposit and can qualify for a full bond plus costs (i.e., 105% home loan) if their credit record and affordability are positive.
- It is better to save for a year or two and put down a deposit to build equity.
- Access first-time buyer discounts, such as bond registration fee reductions.
4. How to enter the market
First-time buyers should research online and contact reputable agents. A pre-approval from a mortgage originator like BetterBond can help establish affordability.
5. Red flags
Ensure any agent has a current Fidelity Fund Certificate issued by the PPRA. Never pay a deposit to an unregistered account. Buyers should also request a written property condition report and compliance certificates.
Tips for searching in Gauteng
Zaslansky: The best sources of information are property websites where buyers can sign up for alerts about suitable listings.
Hunkin: Property portals like Private Property and agency websites are the best places to search for properties and compare prices.
