“Spurred on by factors such as additional interest rate cuts, better economic prospects, improved affordability and more stability, we believe that demand for property in 2025 will reach levels exceeding those seen in recent years, noted Dyer.

Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa says your first home is more than just a place to live.

“It’s a stepping stone to building long-term financial security. Choosing the right property in the right location can help you build equity faster, making it easier to move up the property ladder over time. A well-planned first purchase sets the foundation for future real estate success,” he says.

Now, pause and look at your finances. Have you saved up at least 10% for the deposit? This will help decrease your monthly repayment on the bond.

Have you calculated how much you will need for transfer and conveyancer fees? These usually run into tens of thousands. For example, if you’re looking to buy a R1m house, your 10% deposit will be R100,000.

Goslett says first-time homebuyers need to be better equipped to make informed decisions. “Never underestimate the importance of making a good first purchase – if you are ever feeling unsure, speak to a trusted real estate professional for some free advice.”

RE/MAX of Southern Africa gives tips on how to avoid common mistakes:

You need more savings than you might think

While saving for a down payment is crucial, it’s equally important to budget for all the additional costs that come with purchasing a home. These include the various closing fees such as the transfer duty and bond origination fee, as well as the moving expenses and possible maintenance or renovation costs to make the home more your own.

You can get pre-approval for home financing

Many first-time buyers don’t realise that they can receive pre-approval on their home financing so that they know upfront how much they can actually afford. There is no cost involved to do this – simply visit a bond originator and fill in some paperwork to get started. Not only will this help you budget more accurately, but it also shows sellers that you are a serious buyer, which can give you extra leverage if there are multiple offers on a home.