4 . Home Insurance
Securing home insurance is a non-negotiable part of the homebuying process . Lenders require buildings insurance to cover the structure of your property in the event of fire , flooding , or other disasters . Typically , this insurance costs a few hundred rands a month . Beyond that , buyers may also want to consider bond protection insurance and home contents insurance .
Bond protection insurance ensures that your home loan repayments will be covered if you encounter unforeseen circumstances like illness , unemployment , or disability . While not mandatory , home contents insurance offers protection for your belongings in case of theft , loss , or damage .
5 . Home Furnishings
Many homebuyers overlook the cost of soft furnishings when planning their budget . When moving into a new home , you may need to replace curtains , blinds , carpets , or furniture to fit the space .
Existing furnishings may no longer match , or your new home may require additional decorative elements . Budgeting for these extras ensures that you ’ re not caught off guard when it ’ s time to decorate and furnish your new space .
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