To Buy Or Not to Buy?

To Buy Or Not to Buy?

By Donovan Meyer  (Property Executive – FinServe Property)
Property? That is the question that is currently on everyone’s mind, considering that we are in a property cycle referred to as a buyers’ market in industry terms.
The answer is ……….
Yes, buy now or regret later.
  • Property prices have stabilised and even normalised to a more realistic level.
  • Now more than ever, the banks are eager to lend to First-Time homebuyers and investors, offering special packages and incentives.
  • The Reserve Bank has lowered the Prime Interest Rate to its lowest in 2 years to give the current market conditions a margin of recovery.
  • Properties below the R 1 million mark are still selling well and have not been affected too much, and are in huge demand.
  • Developers and investors are scrambling to the affordable housing sector. This has seen a new up and coming area like Maitland becoming very popular.
  • More and more people are looking to live closer to the city or workplace, to avoid the nightmare traffic in Cape Town.
  • Two of the major banks have now increased the Loan to Value Ratio to a 100% bond up to R5 million.
  • The government is also offering a subsidy called FLISP to First-Time Home Buyers, to those who earn between R 3,500- R 22,000 per month. CLICK HERE for more details.
Although market conditions have affected consumers’ pockets and as a result, they are spending less. Now is the time to get your foot into the property market and make financial sacrifices on non-essentials like DSTV and eating out. It is the best time to plan your budget every month and see where you can cut on any expenditures.
We will gladly assist you with pre-qualification for a bond and guide you in your property needs whether you are a First-Time Buyer or Investor. Our highly capable Property Team will make this process hassle free. In closing, don’t regret not buying a property now. Be bold and take the first step with us!
Contact me HERE or on 0860 994 094 so that I can assist you on your journey.

We believe that ‘Sharing is Caring’, and therefore we humbly encourage you to share this information freely with your friends and family. If you have any queries, please feel free to contact us on 0860 994 094 or contact the writer directly.

The information contained in this communication and any other communication from the FinServe Group of Companies is subject to our disclaimer which can be read here.

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