Move from renting to buying

February 7, 2018, 4:34pm

“If you’ve been renting for a while and are ready to take the next step to buying your own home, you need to do your homework and know exactly what you are getting yourself into”, says Martha Murorua, Consumer Executive Officer at FNB Namibia. 

Many first-time buyers usually get blinded by the excitement of owning their own home and overlook the importance of research, and this might end up costing them more in the long-term.

Apart from the home loan application and registration process, there are a number of other important factors that one Murorua says customers need to consider when owning a home: 

Future needs – avoid basing the decision of buying your house only on your current needs, rather take a long-term view and consider if the house will still cater for your family’s needs in the future. For example, a two-bedroom house may be perfect for newlyweds, but could soon be too small as the family expands.