Johannesburg, 22 June 2021: The principle of owning real estate to become wealthy has never been more true today than it was back then. Simply think of the many investors who have built enormous wealth and rose up to create their own legacy from it.

The principle of owning real estate to become wealthy still holds true now. In fact, we can make a strong case that it is far truer now than it was back then. When you ask people, who are twenty or thirty years older than you if they would buy real estate at a young age, they're more than likely to say yes. It will help lead you to financial freedom in your future.

Benefits of buying a home in your 20's

The benefits of homeownership are huge—especially when you’re younger. In your 20s, a home is a long-term investment, and if you stay long enough, it can mean building serious wealth over time. Sell the home at a profit later on, turn it into an income-earning rental property when you’re ready to move up, or enjoy fully paid-off housing during your retirement years (though those may be far down the line!)

Homeownership also means:

Consistent, reliable payments – No more annual rent hikes from your shady landlord.

More control to customise the property – Forget “accent” walls. Paint, upgrade, renovate and do whatever you want to your home once you own it.

Great credit – Getting a mortgage loan at a young age can help you establish a solid credit history, which means a good credit score and ample financial opportunities later on.

Tax benefits – Homeownership comes with several tax benefits that can lower your tax burden and increase your annual refund.

You’ll also likely save on monthly costs. Rents have been skyrocketing in most major cities in recent years, with the average mortgage payment coming in well under the average rent. You also have the option of renting your property on Airbnb or other similar sites to make extra cash as needed.

How young is too young to buy a house?

There’s no wrong or right time to purchase a house. Legally, you can buy and own real estate at the age of 18, but that doesn’t necessarily mean it’s the right move for every 18-year-old.A home is a huge and expensive purchase, and it’s one you’ll need to live with for years or even decades of your life. At a bare minimum, you will want to wait until you have consistent income, a stable job and a decent credit score, as this will allow you to both get an affordable mortgage loan, as well as cover that mortgage payment month after month while you’re in the home.

What to consider before buying a house in your 20's

Before seriously considering a home purchase, make sure to take into account the full scope of financial factors and other lifestyle considerations.   You should think about:

Your career

How established are you in your job? Do you expect to be there long? Could your career take you out of the area, therefore requiring a move? You want to stay in the home at least long enough to recoup your transaction costs and break even on the property.

Your income

How much do you make? How much of that after-tax income could you afford to put toward housing? Use a mortgage calculator to see how much your mortgage will likely cost, and make sure you’ll have the income to cover that, plus the costs of maintenance/repairs and your regular monthly expenses like utilities, food, phone, car payment and more

.http://www.multinet.co.za/pre-qualify/

http://www.multinet.co.za/calculators/monthly-repayment/

Your future

Is marriage in your future? Kids or pets? Can you afford a home that will accommodate those changes? You’ll want to make sure a home purchase fits with your future life plans and goals.

Interest rates

What are mortgage interest rates at right now? Talk to MultINET Home Loans if you’re not sure on this one and be sure to shop around and compare rates. They can vary greatly from lender to lender.

Before you can close on your dream home, you must understand the steps to buying a house. Navigating the home-buying process can be challenging, but it becomes much easier if you have a plan and a clear path forward.

There is no time like the present to start working on your goals and dreams. When it comes to buying property, the rule is exactly the same: it is extremely important that you prepare for your home buying journey as soon as possible.

You wouldn’t want to find the perfect house only to realise that you forgot major things during your planning stages.

Here are some easy steps to follow on your home buying journey:

Start Your Research Early

As soon as you can, start reading Web sites, newspapers, and magazines that have real estate listings. Make a note of particular homes you are interested in and see how long they stay on the market. Also, note any changes in asking prices. This will give you a sense of the housing trends in specific areas.

Got credit?

The first step is to verify your credit score. It is highly unlikely that you will be able to buy a house cash and you will probably need to get a loan.

Hopefully this isn’t a surprise, but getting a home loan requires a good credit score. It’s a good time to check your credit reports for errors. Remember that improving your credit score significantly can take at least six months to a year, so get started if you need to! By verifying your credit score you make sure that you are clean as a whistle before approaching any institution.

As a South African, you have the right to review your credit score on an annual basis and it won’t cost you a cent!

Start saving

You will need cash reserves to buy a home, and you will need to prove to a lender that you can afford home loan repayments that may be higher than what you currently pay in rent. In other words, start saving now!

Remember that deposit!

For many people, a deposit is regarded as a curse word and often seems like a form of punishment. However, when it comes to buying a house, the deposit can become your best friend. So, take the time to save as much as you possibly can. After all, the bigger your deposit is when buying, the less your instalments will be over the course of time!

Get your documentation in order

Begin to collect documents that you’ll need to verify your finances on the home loan application: payslips, bank statements and, if you have freelance or self-employment income, copies of your last two tax returns.

Go shopping…for a Home Loan

Gone are the days where we have to travel from one bank to another to apply for a home loan only to get shot down and start all over again! There is a wonderful solution that will help you on your home buying journey: a home loan originator such as MultiNet Home Loans.

MultiNet will assist you by applying to several major banks on your behalf, but without the headaches and the fuss. What’s better is that they will automatically find you the bank that offers the best rates and interest on your home loan.

Just imagine all the free time you’ll have to think about decorating that new dream home of yours.

Close the Sale

At closing, you will sign all of the paperwork required to complete the purchase, including your loan documents. It typically takes a couple of days for your loan to be funded after the paperwork is returned to the lender.

Property ownership is more accessible to aspirant first-time buyers who previously could only afford to rent than ever before.  Renters currently could be in a position to buy a home at a lower monthly cost than what they are currently paying in rent.

Now is the ideal time to step up and make your property dreams come true.  The MultiNET Home Loan team is making it even easier for young first-time buyers around SA to step into this new dawn of home ownership. Our technology, expert team and dedication to what our clients need is what gets them a home loan deal that suits their pocket. 

 Johannesburg, 27 August 2020 - Remember the old saying, a woman’s place is in the home? Well this Women’s Month, WeApply, the new innovative home loan team on the block are saying goodbye to these stereotypes and hello to a world where women continue to break the rules! One of the many ways women are breaking through the glass ceiling is in the home ownership game, moving from simply being in the home, to actually having their names on the title deed. In fact, more single women are owning their own property than single men – 1.5 million more women have their own piece of property than men. According to House Beautiful, a “2018 report by Bank of America found that 73% of women value home ownership above getting married and having children, compared with 65% of men.”

So much for the Prince Charming on his white horse whisking women off to his palace. Now women are taking property matters into their own hands and WeApply is making it even easier for women around SA to step into this new dawn of home ownership. Our technology, expert team and dedication to what our clients need is what gets them the right home loan deal. “From what we’ve seen, women are selective about where the property is situated, what type of return on investment they will get and most importantly what can be done with the property from an aesthetic point of view to add comfort and create value.”

Home ownership makes sense in the long run and here are WeApply’s 3 reasons as to why this is so: 

Owning a property is an investment into an asset

While you may have taken out a rather large home loan in order to purchase the house, you are essentially putting that money back into the property and will probably sell it for more than you bought it for. It is important to realise though that you may need to start small, and work your way up to the house you’ve always wanted. 

Property ownership helps develop sound financial management

The strength of many wealthy people is their ability to budget and save their money. Owning a house means you’re forced to make monthly payments, but you also know that these will go to you in the long run. So, when it comes to drawing up the budget, make sure that the home loan is one of the top priorities. 

Eventually the good will outweigh the bad

Initially the capital outlay for a house may seem excessive, however as the years go by, the loan balance will decrease and the appreciation in value will increase. 

 “And as more women in SA turn to their sights to property ownership, WeApply is excited to journey with them every step of the way, not just in August, but every month, making it easier for them to get the property they have always wanted,” says WeApply’s Bruyns in closing.          

More About WeApply  

Welcome to WeApply, the 21st century answer to home loan solutions! WeApply is an innovative, tech-savvy, online home loan application solution created by ex-bankers, home loan software developers and experienced home loan specialists. 

This group of consummate professionals believed that the existing process was confusing and outdated, so a new model was needed to make the process for clients simple, easy and above all, understandable. 

There is no better feeling than becoming a homeowner. In so much, the journey to that ownership should be just as exciting and shouldn’t be paved with hurdles.  As South Africa’s premier fully-digital home loan provider, WeApply harnesses the power of technology to make fast lending decisions via a digital, seamless and transparent portal the best way to deliver quicker answers and an improved user experience. 

WeApply is the quintessential fast, free and straightforward home loan experience that has innovated technology and simplicity into an industry that has up to this point had very little. It’s a sleek and modern platform that uses clean data and automation, that offers a simple and honest solution to apply for the best home loan available. 

For more information visit weapply.co.za

MultiNET’s new approach to sharing wealth means home loan consultants could earn R20 million on average more than their counterparts in the market. Over the years, those companies that have played a disruptive role in their respective market spaces have been the ones to catapult us forward. Apple and the smartphone, Nikon and the world’s first digital camera, even a certain insurance company and its telephonic underwriting process, are just three examples of how industries have evolved.

And the home loans industry is no different, as MultiNET, SA’s only independent home loan origination company, is disrupting its industry by giving their consultants the opportunity to earn 293% more than the current market norms. This equates to an average earnings of R58 000 more per month, and over a 30-year career of a home loans consultant, would be worth over R20 million.

“The idea comes from looking at the same industry we service, real estate,” explains MultiNET CEO Shaun Rademeyer, “We realised that in the real estate industry, the agent is the key to success, and earnings moved over the years from 50% of the commission to upwards of 90%. “We have looked to evolving the origination industry to make use of the same key element, the consultant; the person doing the loan application.

This person is normally well experienced in the financing of home loans with several years of detailed knowledge and expertise ̶ many actually come from a banking background where they helped build the mortgage industry as we see it today.” These experts are mostly found through referrals, either by estate agent or via friends and family ̶ they are normally the go-to-person when customers ask, “What is the best way to get a home loan?”

However, this same person who is so integral to the success of the business is also settling for the smallest slice of the pie. “We have asked why, and the answers that come back are brand loyalty, a guarantee of a salary even though most are commission-only earners or the culture the company creates. However, in the end these talented individuals are small businesses in their own right that should start looking after their own interest and the interest of their families vs the financial gains of a few within the business.”

In 2018, MultiNET decided to change the lay of the land for the consultant and launched a unique offering to the home loans market that is built off the company value of sharing the wealth with the individuals who are its backbone.

“At MultiNET, we keep the cost of running the company low whilst still providing systems, support and building a brand to support the home loans consultants and aggregation businesses,” explains Rademeyer, “The efficiencies within our organisation have provided us with the ability to match the real estate industry strategy and disrupt the market the same way as high commission split brands like Property.CoZa, Keller Williams and Re/Max did for the property industry.”

Alister Smit, a consultant who recently joined MultiNET, says when he first heard about the offer he was extremely sceptical. However, after joining the group he realised that for years he was working towards making other people wealthy, much to his detriment, and taking away personal time and resources for the future.

“The world is getting smaller, and more and more people are looking for personalised service, the type of service that comes from employees who are invested in the companies they work for. We believe that our consultants and business partners are the backbone of our industry, able to give that personalised service, and their reward is the earning opportunity we provide,” says Rademeyer.

“And this is just the start; we are committed to finding new solutions within our industry for all stakeholders, supporting the development of previously disadvantaged segments in the market and spreading the financial benefit with the broader players in the industry.” About MultiNet MultiNET is the only independent bond origination company in South Africa.

They are committed to evolving the origination industry through cutting-edge innovation in systems, processes and the development of people, specifically supporting the development of previously disadvantaged segments in the market. For more information, please visit multinet.co.za

The second development phase at Somerset Lakes, a 42-hectare residential estate in Somerset West, will be released to the market in mid September. The first phase sold out rapidly, with 114 sales being recorded within just six weeks of the launch. Construction of the first phase is well under way and occupation is expected to take place in mid 2015.

The new phase, Waterford Green, comprises 48 freestanding double-storey houses, selling from R1,3 million including VAT, no transfer duty. These two and three bedroom homes offer spacious, contemporary, open-plan living areas and private gardens. All homes include at least two bathrooms, one being en suite, and the three-bedroom design offers a garage and an optional guest toilet.

According to Dave Harris, Sales and Marketing Manager of Somerset Lakes, the new product has been specifically designed to help meet the growing demand for affordable, quality housing in the popular Somerset West area.

“We’ve been inundated with requests from buyers looking for houses,” Harris said. “People want freestanding homes with gardens, views and security, in close proximity to the centre of Somerset West, and that’s exactly what our latest product at Somerset Lakes has to offer.”

Designed by Schabort Associates Architects, the new development phase is located alongside the six-hectare lake that gives the estate its name.

“This unique feature is a huge attraction,” Harris commented. “It’s ideal for swimming, canoeing, sailing, windsurfing and fishing, and home to a rich variety of water birds. A magnificent community clubhouse on the shores of the lake, The Summer Club, will enhance the appeal of this fantastic recreational asset, providing residents with play areas, boat sheds, a sandy white beach, and a swimming pool and deck area with stunning views of False Bay and the Hottentots Holland mountains.”

The developers, Omwieco (Pty) Ltd, a consortium of highly experienced development professionals backed by financial giant Investec, have devoted no less than 40% of the estate’s total area to green, open space for the recreation of residents. This includes the lakes and other water features, a mature forest of stone pine trees, landscaped parks and gardens, and kilometres of walking trails and mountain biking tracks.

An indigenous fynbos nursery has been established on the estate, which was recently awarded the prized 2014 SALI Gold Award for landscape design by the South African Landscapers Institute.“No expense has been spared to implement the most technically advanced security system at Somerset Lakes,” said Harris. "These measures include electrified perimeter fencing with 70 high-definition surveillance cameras, which are monitored around the clock from the hi-tech guardhouse, 24-hour guarding and patrols, and an on-site rapid response team. Other advanced features include biometric fingerprint access control."

All homes in the estate will be hardwired with fibre-optic cabling for superfast internet access, DStv and VOIP telephone connectivity, which will allow free telephone calls within the estate.

A Curro Castle School is being constructed on the estate and is due to open its doors in 2015.

Convenient access to the Somerset West village has been provided by the developers through the R16 million construction of Reunion Drive, which links the main entrance of Somerset Lakes to Sir Lowry’s Pass Village Road under a specially constructed railway bridge. Just a few hundred metres from this entrance, an upmarket new shopping centre is now under construction, where Checkers, Woolworths Foods and Clicks will be the anchor tenants.The Vergelegen Mediclinic and the Somerset West CBD are less than two kilometres away, while popular Somerset Mall shopping centre is just 3,5 kilometres from the estate.

“When you consider the amazing lifestyle advantages Somerset Lakes offers, the security, the convenience of the surrounding amenities, and the incredible natural beauty of the estate, I have no doubt our second phase will sell as fast as the first one,” said Harris.“I strongly advise anyone interested to register online for an invitation to a pre-launch sales opportunity, ahead of our public launch in mid September, to avoid disappointment.”

For further information visit www.somersetlakes.co.za or phone 021 202 2200.

{pp}The South African consumer continues to seek out short-term personal loans to try and keep their heads above water, but there are signs that interest rate cuts are starting to take effect.