Year in Review: The Homeownership Journey in 2020

This has been an interesting year filled with unexpected twists and sharp turns and some of us would have had to adjust our homeownership plans.

Recap of 2020

Many persons would have started 2020 with high hopes for their future. Convinced that owning your home is better than renting, they would have started thinking about how they could realise their dream of homeownership sooner rather than later. They may have even started the process by determining how much they can afford to borrow and asking the right questions when reviewing their mortgage options. Those who would not have been able to buy or build a home right away would have begun considering buying land instead to make a meaningful step towards homeownership.

However, the onset of the Covid-19 pandemic forced many to defer their plans and prioritise so that they could maintain financial stability. As we stayed at home to keep our families safe, and ourselves, many even tried their hand at making a home garden. All hope was not lost though as we adjusted to the ‘new normal’ and worked on getting back on track.

Looking to 2021

For many, the homeownership journey will continue into 2021. While no one can predict the future, it is still wise to prepare for it so you can seize any opportunities that present themselves. It is important to establish a timeline (like a 12-month plan) that outlines what you need to do by when in order to keep yourself accountable. Conducting extensive research will also unearth insights that can help you avoid common mistakes that other homeowners make when taking out a mortgage.

We encourage all persons who are still holding fast to their dreams of homeownership to apply the principles of patience and persistence towards achieving their goal in the coming year. We are here to help. Our stable and transparent mortgage interest rates allow homeowners to live comfortably knowing that they can afford their mortgage payments for years to come.