The Western Cape Department of Human Settlements has urged first-time home buyers to take advantage of the province’s over 500 affordable housing opportunities currently available across the province.
Gross household income
The department said in a statement on Tuesday that it currently has opportunities available that cater for households with a gross income of between R3 501 and R22 000 per month.
Housing opportunities vary from one, two and three-bedroom homes.
Human Settlements said in a statement on Tuesday that there are a total of 571 housing units still available in the Eerste River Cape Town, George and Bredasdorp developments.
“Residents are encouraged to check the qualification criteria and to submit an application for one of the available housing opportunities.”
More details can be found on the department’s website.
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Subsidy option
“Western Cape residents are encouraged to apply for the Department’s Help Me Buy a Home/FLISP subsidy in order to purchase one of the available housing opportunities. The Help Me Buy a Home / FLISP subsidy is designed to assist first-time home buyers to acquire a home.
“The subsidy will essentially assist to reduce monthly bond/loan payments, making it more affordable to purchase a home. Qualifying applicants will receive a subsidy based on their gross household income.”
Provincial Minister of Infrastructure Tertuis Simmers encouraged residents to make use of the deal.
“We encourage young professionals, first time homeowners and those starting a family to research the options available to get their foot into the property market.”
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Benefits
Nathan Adriaanse, the department’s communication and stakeholder relations director, said that there are multiple benefits to home ownership.
“While it often means different things to different people, to most a home represents stability, ownership of an asset with value that will increase overtime, and providing a legacy within the family that many generations can benefit from.”
The department said, so far, over 250 Western Cape residents have purchased their first homes in one of the department’s three developments.
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