2014 Property Tips

With the property market looking healthy in 2014, we are excited to wish you all a prosperous and wonderful New Year.

What better way to kick off your new year than starting afresh in a new home. Purchasing a new home is not merely a physical experience, but an intensely emotional and psychological journey that may extend beyond just you – to include your entire family. Hence, the latest in property news sees us kick off 2014 with some helpful hints that will empower you as the home buyer.

  1. SAFETY AND SECURITY: living in South Africa, this is the most significant factor to consider when buying your home. Ensure you research your choice neighbourhoods to settle in and ensure you’re buying in a safe and secure environment.
  2. SCHOOLING is becoming an increasingly significant factor to consider when buying a home. Not only is the proximity to good schools important, but simultaneously, so too is the ease of travel between schools and the work place, for parents.
  3. COMMUTING TO WORK is yet another major factor that home buyers consider when looking at where to buy a home. Purchasing a home as close to your place of business as possible can significantly lower the cost of commuting and the time spent commuting.
  4. Many buyers are also concerned about the QUALITY of the neighbourhood in which they are buying, partly because of the investment value and, partly because they realise that buying a new home is committing to a long-term relationship – and they would be in the neighbourhood for a number of years. Similarly, SUITABILITY is another factor as younger buyers are moving around far less than they did 5 years ago.
  5. Certainly, a key factor to consider is AFFORDABILITY. Although financial institutions have relaxed their criteria for bond applications somewhat, affordability is a significant factor that influences where you are able to buy your home.

The latest property news reveals that although the interest rate is the lowest it has been since 1973, it appears that there will be an increase in the interest rate in 2014.

2013 saw a steady growth in the property market, and the growth continues. As a result, we’re expecting an increase in property prices. Assisting the growth of the property market is of course is the fact that financial institutions have relaxed their lending criteria to a degree, meaning that more bond approvals are expected in 2014.

Now that you have the latest in property news at your finger tips, you are truly ready to leap into this New Year.