Real-Tea Sundays

Welcome to Real Tea Sundays with your host, Shana Blair Roberts—your trusted Jamaican home girl and real estate professional. In this episode, we break down the essential first step in your Jamaican home-buying journey: saving for your deposit.

What You’ll Learn:

• Why your deposit is the true starting point for buying property in Jamaica—not property searching!
• How much you should plan to save (typically 5–25% of the purchase price, with 10% being standard).
• The importance of your deposit as a sign of commitment to the seller and as part of your final payment.
• Tips for saving: start early, treat your deposit as a dedicated goal, and consider high-interest savings or fixed deposit accounts.
• What to avoid: Don’t use unsecured loans, credit cards, or family loans for your deposit, as this can affect your mortgage eligibility.
• How the National Housing Trust (NHT) can help with your deposit, including using contribution refunds.
• The difference between your deposit and closing costs, and why you need to save for both.

Key Takeaways:

• Your deposit is unavoidable but achievable with planning and discipline.
• Never take a loan to cover your deposit—it can limit your ability to qualify for a mortgage.
• Start saving now to unlock the rest of your home-buying process.

Resources:

• Download my free Home Buyers Checklist (with a savings tracker for your deposit and closing costs)

Don’t forget to subscribe to Real Tea Sundays for more unfiltered real estate advice in Jamaica. Leave a comment or review if you found this episode helpful!