opportunity of a lifetime is at hand - right now. Plenty of homes are available
at affordable prices. Interest rates remain low. If you are a first time buyer
and serious about owning your own home, then you need to move fairly quickly,
to take advantage over the market.
you are making a major purchase you have never attempted before, and may be
unusually subject to the inevitable stress and anxiety that goes with buying a
home. But relax…..
to take you through the process step by step, explaining every move we make so
that you can relax and enjoy becoming property owners investing your future.
FIRST TIME BUYERS
are selling their homes should know something about the market group from which
their buyers are likely to appear. Many homes are perfect for a first-time
home buyers are usually younger (between 25 and 34 years of age) and have
distinct buying patterns. First-timers are often looking for homes that are
smaller, and perhaps older, than repeat buyers. Approximately four in ten
first-timers will buy much older homes, compared to two in ten repeat buyers.
buyers are in the process of developing a clearly defined sense of what they
want in a house. They may not have enough money to buy their ultimate dream
home at first, but seventy-four percent say they like their new home better
than their previous residence.
first-time buyers can qualify for a bond, but they may need help from parents
to make the down payment or closing costs on their home. Depending on your
credit record you might also need someone signing surety. We will guide you through
your credit approval proves helping you find the best deal available.
who are planning to help their children finance a home should transfer any
funds several months before the house-hunting process begins. If it is a loan
rather than a gift, a formal re-payment agreement should be drawn up between
parents and children to eliminate potential misunderstandings or future
complications with either estate.
keen to attract new customers and helping first time buyers is a
for them to do this – so they are prepared to assist you wherever
They will look at structuring a loan that suits your requirements. Most
banks now offer 100% and more bond packages to earners under R15000.
Why not contact us to get the details or see the
Finance section for more information.
How long you plan to live in the home.
If you purchase a home and get a job transfer or decide to move after only a
short time, you may end up paying money in order to sell it. The value of your
home may not have appreciated enough to cover the costs that you paid to buy
the home and the costs that it would take you to sell your home.
The length of time that it will take to cover those costs depends on various
economic factors in the area of the home. Most parts of the country have an
average of 5% appreciation per year. In this case, you should plan to stay in
your home at least 3-4 years. If the area you buy your home in experiences an
economic up turn, the length of the time to cover these costs could be
shortened, and the opposite is also true.
How long the home will meet your needs.
What features do you require in a home to satisfy your lifestyle now? Five
years from now? Depending on how long you plan to stay in your home, you'll
need to ensure that the home has the amenities that you'll need. For example, a
two-bedroom dwelling may be perfect for a young couple with no children.
However, if they start a family, they could quickly outgrow the space.
Therefore, they should consider a home with room to grow. Could the basement be
turned into a den and extra bedrooms? Could the attic be turned into a master
suite? Does the erf size allow for expansion? Having an idea of what you'll
need will help you find a home that will satisfy you for years to come.
Your financial health - your credit and
Is now the right time financially for you to buy a home? Would you rate your
financial picture as healthy? Is your credit good? While you can always find a
lender to lend you money, solid lenders are more sceptical if your credit
history is not good. Generally, a couple of blemishes on a credit report will
stil make you a good credit risk and could qualify you for the lowest interest
Some say that you should refrain from borrowing as much as you qualify for
because it is wiser not to stretch your financial boundaries. The other school
of thought says you should stretch to buy as much home as you can afford,
because with regular pay raises and increased earning potential, the big
payment today will seem like less of a payment tomorrow. This is a decision
only you can make. Are you in a position where you expect to make more money
soon? Would you rather be conservative and fairly certain that you can make
your payment without stretching financially? Make sure that whatever you do,
it's within your comfort zone.
The last thing you want to do is end up in a financial mess with your first
purchase as this will affect you ability to buy in the future. Discuss this
carefully with your agent to make the right decision.
We am experienced
in working with first-time buyers and am well-versed in the creative financing
that can make dreams become realities. Give us a call and let’s see what we can
do for you.
you cannot obtain financing right now, you will have found out what the banks
will be looking for and can work toward that goal. You will have found out what
costs are involved and can begin planning and saving.
just couldn’t find you a home that suits your style and price range – then we keep looking and let you know when one pops up.
you will have taken one step further to owning your own home and there is no
time like the present to begin that journey.
to read :
from Private Sellers
For more detailed information on Finance issues go here
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