Incentives for first-time home buyers

CHIEF executive of RE/MAX of Southern Africa, Adrian Goslett, suggested the government implement stimulus packages in the first-time buyers’ market to promote growth in the property market and, in turn, spur economic growth through the development of home-based enterprises and other home-centred businesses.

“It is my opinion that the government should come up with creative ways to encourage all first-time buyers, regardless of income classification, to enter the market by means of tax rebates, for example.

“While FLISP (Finance Linked Individual Subsidy Programme) and similar products exist to help those earning below 22 000, nothing exists to help first-time buyers who are not seeking to buy within the lower price brackets of affordable housing.

“As a by-product of encouraging more South Africans into home ownership, a stimulus or rebate policy of this sort could result in the growth of all kinds of economies and industries that ‘live off’ the home, such as landscaping, pool services, telecommunication, building contractors, electricians, plumbing and the likes.”

Home ownership feeds a host of related industries.

ense of renting additional office space outside their home, providing them with a slight relief and a fighting chance to live another day.

Allowing more first-time buyers to enter into the market allows for growth in the home-based enterprise market.