Is owning a home really a distant dream for South Africans? Here’s why industry insiders say no

“Renting pays for the right to occupy a property for a specific period, whereas a bond repayment also includes a reduction of your home loan balance, giving you the opportunity to build equity in your home,” Michael Coulter, Head of Product Economics at Standard Bank Home Services, told The Citizen.” Standard Bank has factored additional purchase costs such as transfer fees and bond registration into its offering, allowing up to 108% bond financing specifically for first-time home buyers.“The more equity you build up in your own property, the more you can leverage it later on in life, whether it’s upgrading to your dream home, renovating, extending or even downgrading for retirement.