How to get your first house as a young professionals: Bonno housing

Table of Contents

• What is the Bonno Home Loan?

• Key Features & Benefits

• Who Can Apply?

• How to Apply?

• Buying or Building? The Choice is Yours!

  • 1. Buying an Existing Home

  • 2. Financing to Build Your Own Home

• How to Get Started

• Why This Matters for Young Professionals

• Final Thoughts

Good morning! Remember the government’s promise to build 100 000 homes for Batswana? Now they already started in places like Pilane near Mochudi with about 200 projected homes and more places to come. So here are the details on how you as a young professional can get into it:

How Young Professionals in Botswana Can Secure Their Dream Home with the Bonno Home Loan

For many young professionals in Botswana, owning a home may seem like a distant dream, but the Bonno Home Loan by the National Development Bank (NDB) is making homeownership more accessible than ever. Whether you're looking to buy your first house, construct your dream home, or even make improvements to an existing property, this loan provides a structured and achievable path to homeownership.

What is the Bonno Home Loan?

The Bonno Home Loan is a tailored financing solution designed to assist individuals and businesses in purchasing, constructing, or improving residential properties. This loan is structured to offer flexibility, affordability, and accessibility, ensuring that young professionals and entrepreneurs can invest in property without financial strain.

Key Features & Benefits

• Loan Amounts: Borrow up to P2,000,000 for home purchases or construction, P10,000+ for plot purchases, and P10,000-P250,000 for home improvements.

• Repayment Periods: Up to 25 years for individuals (must be repaid before age 65), 15 years for companies, 7 years for plot purchases, and 5 years for home improvements.

• Eligibility: Open to both citizens and non-citizens with valid work or residence permits.

• 100% Financing: Includes transfer fees, duties, and VAT, reducing upfront costs.

• Insurance & Valuation: Mandatory property insurance against natural hazards and valuation reports from NDB-approved valuers ensure asset protection.

Who Can Apply?

The Bonno Home Loan is available to employed professionals, entrepreneurs, and businesses. If you’re a first-time homebuyer or looking to expand your property investments, this loan provides an excellent opportunity.

How to Apply?

To apply, you’ll need:

• A valid Omang or passport

• Financial statements and payslips

• Proof of employment and residence

• Title deeds or plot allocation letter

• Utility bills and relevant supporting documents for businesses

Buying or Building? The Choice is Yours!

1. Buying an Existing Home

If you’ve found your dream house but need financial assistance to purchase it, Bonno Home Loan can help you secure funding. With its easy application process and competitive loan structures, you can move into your ideal home sooner than expected.

2. Financing to Build Your Own Home

For those who want to build their dream home from scratch, Bonno provides financing that covers both land acquisition and construction costs. This allows young professionals to design homes that suit their personal tastes and needs while ensuring financial feasibility.

With Bonno, you don’t have to compromise—you can create a space that reflects your lifestyle while managing costs effectively.

How to Get Started

Assess Your Financial Readiness: Understand your budget and how much you can afford in monthly repayments.

Choose the Right Loan Package: Consult with Bonno’s financial advisors to pick a plan that suits your needs.

Submit Your Application: Provide the required documents and apply for the loan.

Get Approved & Start Your Journey: Once approved, you can either purchase your home or begin construction.

Why This Matters for Young Professionals

Real estate is one of the most stable and profitable investments for long-term financial security. By securing a home loan early in your career, you not only gain a place to call home but also build wealth through property appreciation. Additionally, the structured repayment options make it feasible to own property without overburdening your finances.

Final Thoughts

The Bonno Home Loan provides young professionals in Botswana with an incredible opportunity to step onto the property ladder with ease. If you’re looking to secure your future with real estate, this is a financial tool you should explore.