Co-ownership of property is a unique arrangement where two or more individuals jointly own an immovable asset, sharing both the rights and responsibilities that come with it. By joining financial resources, co-buyers are likely to have a larger deposit saved to put down against a home loan, which results in receiving better interest rate offers and terms from banks.
Homeownership in South Africa need not be just a dream with some planning and decisive action. It is possible to become a homeowner in South Africa. Just remember, doing the prep work upfront and controlling as much as you can of this process is critical.
The ongoing stability of the country’s power supply, boosted further by the positive sentiment created by the formation of the Government of National Unity, has paved the way to a positive economic outlook, renewed investor sentiment, lower reported inflation, and the first interest rate cuts experienced in four years.
