Congratulations on the purchase of your new home! You’ve done all the applying, buying and signing now it’s time to focus on the first three months of owning a new home.

The three things you need to consider when owning a home

In the first three months, you will be familiarising yourself with your home, your neighbourhood and all the other aspects of moving to a new place.  Here are a few things you need to think about.


Taking care of your new home.


The costs you will need to pay when you own a home.



It is important to understand your rights as a homeowner.

Responsibilities of owning a home


Municipal accounts

As a homeowner, you need to pay municipal rates and taxes for the property you own. If you haven’t already done this, check with your municipality that the municipal accounts for the property are in your name. Your municipal account should include provision for payment of property rates, sanitation and refuse as well as electricity and water consumption (if supplied by the municipality).



Managing agents

If your home is in a complex, you will also need to pay levies. Get acquainted with the managing agent and the body corporate of the complex. 



Change the locks when you move in, you don’t know who has copies of your house keys. Fitting a security system with armed response is a good idea if you don’t already have one.



Put all the documents related to your house in a safe place. This will be your deeds, sale documents,municipality agreements also keep a record of any repairs you do.

Managing your costs


Home loan repayments

Buying a new home is a big financial commitment, and the most important thing is to make your home loan repayments. So, draw up a monthly budget to help you understand and manage your expenses, so you can always make your repayments on time.



Maintenance plan

Your new home is an investment that needs to be taken care of. Draw up a maintenance plan. Check everything and plan for things that will eventually need maintenance like wooden doors or windows and your roof.


Be prepared

A burst pipe or leak in the roof could happen any time so keep some money aside for such unexpected occurrences. Double check what kind of damages your insurance policy will cover.



Make a list of all your monthly costs such as: electricity, water, rates and taxes, insurance, security, your home loan repayments, perhaps a gardener or a helper and your monthly maintenance savings. Be sure to understand your budget and always have some reserve for sudden emergencies or occurrences.

Homeowners rights



Usually takes place from the date of registration. You can occupy earlier if you come to an agreement with the seller where occupational rent will be payable.



Renting out your property

If you bought your home as an investment, you could rent your home out and get extra monthly income towards your bond.


Build or renovate

Your home is now yours! So perhaps you want to decorate or change it? More importantly you may want to do any maintenance first.

 Moving into your new home is both exciting and daunting. But by doing your budget and planning your maintenance it will be the beginning of a happy new period in your life.


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