Name: Building Loan
Brand: Absa

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Deciding between buying and building your home?

No matter what you choose, we’re here with affordable Home Loan options and more.

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Building your home

Advantages	Disadvantages
You get exactly what you want, the way you want it.	Building a home can be more expensive and doesn’t always go according to plan.
Newly built homes don’t need immediate repairs and maintenance.	You have to think of everything from the start or you incur added costs.
You can design your home according to the latest trends and safeguard it with the latest technology.	You may experience building delays due to bad weather or public holidays, or if you run out of funds.

Buying your home

Advantages	Disadvantages
The purchase price is fixed once it’s been negotiated with the seller.	Older homes come with a lot of maintenance and unforeseen repair costs.
You can renovate and redesign as you wish.	Unless you plan to renovate, you’ll have to live in the home as it is.
The costs of your renovations can be worked out upfront.	You may only discover damages after you move in and then you’ll be liable for the repairs.

Here’s our take

You’ll need to make the best choice for you based on what you can afford. If you buy a fixer-upper for a lower price, you’ll have to spend more on the renovations. Alternatively, you could find your perfect home at a higher price. If you build a home from scratch, there’s a lot of uncertainty around costs. Either way, our Home Loan options have you covered.