Buying your first home is possibly the largest purchase you will make, so it’s important to be well-prepared for this important milestone. “After two years of comparatively low-interest rates, we are still seeing considerable interest from first-time buyers who account for 60% of all BetterBond’s home loan applications,” says Carl Coetzee, CEO of BetterBond....
The pendulum has swung following a season of record-low interest rates, moving the country into a cycle of interest rate hikes. Set to meet again in May, the MPC may choose to hike interest rates further. Homeowners are advised to evaluate their finances ahead of the announcement to make sure they can afford the potential increase....
The residential rental sector started to show real signs of renewal in the fourth quarter of 2021 with key national property indicators revealing that the sector is through the worst of the economic storm, according to TPN Credit Bureau’s Residential Rental Monitor....
There has been such a surge in home buying since the second half of 2020 that there is now actually a shortage of homes for sale in many of the most sought-after areas, and well-priced properties that do come on to the market are often selling within just a few days – without even being advertised online or in print....
The repo rate, which directly impacts interest rates, affects many aspects of an economy, such as the exchange rate and money supply. As such, it can be used to manipulate spending to reach certain economic goals. For example, when spending and hence economic activity is low, the Reserve Bank may lower the interest rate to lower the cost of borrowing money, effectively incentivising consumers, and...
The interest rate remains low-ish, despite the recent hike, which means it is still possible for more first-time buyers to enter the property market....
Financial fitness is often stressed for buyers as they need to be able to show a clean credit recordand affordability for bond requirements - however, financial fitness for sellers is equally as important as they too need a clean credit record for future purchases....
Whether you are already a home owner or getting ready to buy a home, being financially fit in 2022 should be at the top of your priority list this year....