If you have made it to this step, then you have finally reached your dream of home ownership.
From this date onwards you will be responsible for payments, maintenance and your own financial wellbeing.
It’s important to keep up to date with your duties, as your new home is now an asset, one which you should take excellent care of.
Look after your home in the following ways:
Smart bond repayments:
Buying a property and taking out a bond to finance the purchase is a long-term commitment.
Once you can afford it, try to pay over and above the required repayment amount. Alternatively, you can speak to the Bank and request your bond to be readjusted according to your new affordability levels. By doing this you can reduce your overall repayment term.
Never miss your payments! If you miss your payment, your account will fall into arrears which can lead to a letter of demand, or worse, foreclosure. If you are having trouble meeting your payments, speak to your Bank and find a solution to suit you and your pocket.
Check up on your home’s condition:
Take good care of your home to ensure it remains in good condition.
Home owners should check their properties thoroughly for cosmetic problems in the foundation, paintwork, gutters, roofing and plumbing. Problems won’t fix themselves, so don’t ignore them. Whether you fix a problem or upgrade, don’t wait longer than necessary as this will affect your home's value over time.
Ask the previous home owners questions:
Before the Seller hands over the keys, ask them as much as possible.
If you need to replace, update or redo your home in any way they might well be able to advise you. Additionally, ask for the specific instructions needed for operating gates, security systems, pool pumps, satellite installation etc.