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Buying a home in Zimbabwe, whether it's a cozy apartment in Harare or a sprawling family home in Bulawayo, is a significant milestone. But beyond the purchase price, several hidden costs can surprise unsuspecting homebuyers. This guide will unveil these often-overlooked expenses, helping you budget effectively and avoid financial stress.
1. Moving and Transport Costs: More Than Just Fuel
One of the first unexpected expenses is the cost of moving your belongings. In Zimbabwe, moving costs vary based on distance, volume of items, and additional services.
- Local Moves: Expect to pay upwards of USD $100 for a local move within Harare or Bulawayo.
- Long-Distance Moves: Moving between cities like Harare and Victoria Falls can range from USD $300 to USD $500 or more.
- Accessibility: Narrow streets, stairs, or difficult entry points may incur extra charges.
- Additional Services: Packing, storage, and insurance will increase the overall cost.
Tip: Obtain multiple quotes from reputable moving companies and budget for potential unforeseen expenses
2. Levies, Rates, and Special Levies: Understanding Your Ongoing Costs
- Sectional Title Properties (Apartments, Townhouses): Monthly levies cover maintenance, security, and common area utilities. These can range from USD $50 to USD $100 or more, particularly in gated communities.
- Freehold Properties: Factor in costs for municipal rates, homeowner's insurance, ongoing maintenance, and security services.
- Special Levies: Unexpected expenses for major repairs (roof, security upgrades) can arise.
Recommendation: Inquire about levies, review financial statements, and research the property's history of special levies before making an offer.
3. Utilities Setup: Connecting Your New Home
New homeowners must budget for connecting essential services:
- Water, Electricity, Telephone, Internet: Costs vary by area and service provider.
- Average Setup Cost: Expect to pay between USD $200 to USD $400 for connecting these services, especially if not pre-installed.
Note: Costs can fluctuate based on the service type and location.
4. Home Insurance: Protecting Your Investment
- Building Insurance: Required by lenders to cover the structure against fire, floods, and other disasters.
- Bond Protection Insurance: Covers home loan repayments in case of illness, unemployment, or disability (recommended).
- Home Contents Insurance: Protects your belongings from theft, loss, or damage (recommended).
5. Home Furnishings: Completing Your Dream Home
- Soft Furnishings: Curtains, blinds, carpets, and furniture may need replacing or updating.
- Decorative Elements: Budget for additional decor to personalize your new space.
Key Takeaways for Zimbabwean Homebuyers:
- Thorough Research: Understand all potential costs before making an offer.
- Budget Wisely: Create a realistic budget that includes hidden expenses.
- Seek Professional Advice: Consult with real estate agents, lawyers, and financial advisors.
- Utilize Property.co.zw: Find listings, connect with agents, and research market trends on Zimbabwe's leading property platform.
