In Q1 ‘ 24 first-time homebuyers accounted for 46 % of ooba Home Loans ’ customer intake – a 10 % dip from the height of the first-time homebuying frenzy in 2020 . Young homebuyers are the beating heart of the property industry and are essential in closing the significant housing gap that still exists in South Africa today .

In addition to reducing housing inequality and promoting stability and security , owning your own home is one of the best ways to build generational wealth and break cycles of economic hardship .

Unfortunately , many wouldbe homeowners still lack the educational tools required to empower them on their homebuying journey . It ’ s important to remember that the homebuying process has significant financial and legal implications , therefore arming oneself with knowledge prior to shopping around is key .

68 JUNE 2024 Real Estate Investor Magazine