Can the Average South African Still Afford to Buy a Home? Here’s How to Make it Happen

Are you endlessly scrolling through real estate online platforms, wondering if you’ll ever be able to afford that dream home that’s been on your favourites list for months? You’re not alone. Many South Africans face affordability concerns and often lack knowledge on real estate. Rising inflation, high interest rates, stagnant real wages, and a lack of understanding of the purchasing process – have put immense pressure on households, with first-time buyers feeling it the most.

Buying a home starts with knowing what you can afford. Doing a quick home loan pre-approval, you can find out what price range you qualify for. Not only does this give you confidence as you view properties, but it also provides a fair and transparent picture of your financial standing before you take the leap.

Get pre-approved in 2 minutes by clicking here.

Why Homeownership Feels Out of Reach for Many South Africans

The common tendency is to blame rising property prices as the only barrier to buying a home. But in reality, poor credit health is often the biggest stumbling block. Conversations about financial readiness need to move beyond quick “hacks” for improving your credit score. Instead, these conversations should focus on identifying and reshaping deeper financial habits that are quietly sabotaging the dream of homeownership.

3 Financial Fitness Habits to Help You Buy a Home

1. Start the plan early
   Building a strong financial foundation is like building a healthy lifestyle – it takes time and consistency. You wouldn’t start training for a summer body in summer, and the same goes for your finances. Buying a home is a long-term goal that requires early preparation and disciplined habits, ideally from a young age. Don’t wait until your 30s to start taking it seriously.
2. Practise financial discipline
   Just like “eating clean,” financial discipline is about sticking to a budget instead of giving in to impulse spending or unnecessary credit use. These small habits add up. When it comes time for a credit check, your financial “diet” over the years will show. Discipline not only prepares you to qualify for a home loan but also ensures you can sustain the investment for the long term.
3. Use Smart Financial Tools to Make Your Dream a Reality
   Scrolling real estate online platforms is fun, but buying a home isn’t like buying sneakers — you need to plan for extra costs like bond registration, transfer fees, and insurance. Use tools like:

• • MortgageMarket’s Pre-Approval
  • Bond & Transfer Cost Calculators
  • FLISP subsidy checks (for qualifying first-time buyers)

Tip: If you earn between R3,501 – R22,000 per month, you may qualify for a government FLISP subsidy. MortgageMarket can help you apply and save thousands.

Buying a home has never been more achievable. At MortgageMarket, we’ll help you navigate the process, understand your options, and move forward with confidence. Stay focused, stay committed — your keys could be closer than you think.

And when you’re ready to take the first step, find out what you can afford in just 2 minutes by getting pre-approved today.