In Conversation with Igenda Ejekwu Client Manager Business Rescue and Insolvency at Galetti Corporate Real Estate

For many South Africans, owning a home remains an important financial and personal goal. However, with the cost of living placing pressure on household budgets, the decision to buy property requires careful consideration of affordability, financing and the long-term responsibilities of homeownership.
For prospective buyers, particularly first-time buyers, the purchase price is only one part of the financial commitment. Additional expenses can include transfer and bond registration fees, legal costs, municipal rates, utilities, insurance, levies where applicable, and ongoing maintenance. These costs should be factored into a realistic budget before signing an offer to purchase. SARS and Absa provide further information on property-related costs.