Did you know that getting pre-qualified should be your first step on the property journey - even before getting a real estate agent or looking around for properties? Before you can understand the importance of pre-qualification, you need to understand your credit profile - this is true not only for first-time home buyers but also if you’re buying your first car, or refinancing a bond or loan. A...
Buying a home is still one of the biggest financial commitments that most people will ever make – and it has become even more complex in recent years so it’s vital to be aware of the major “potholes” you need to avoid, especially if you are a first-time buyer....
Applying for a home loan can be a daunting experience. The most crucial step toward owning a home is acquiring the necessary funding to afford the purchase. To ensure a successful application, there are a few steps buyers can follow to secure the required capital at the best possible interest rate....
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....
While banks in SA are still keen to lend to home buyers, they are also applying their credit granting criteria more strictly now in the light of rising inflation and rising interest rates, so it is vital for prospective borrowers to make sure their finances and credit records are all in order before they apply for a loan – and long before they start looking for properties to buy....
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....
Buying a new home can sometimes be fraught with challenges, from a lack of funds to a lack of available homes, or even just complicated family dynamics to navigate through. In most cases, there are workarounds for the challenges if buyers are willing to lean into the advice provided by a local real estate professional....
Beginning your house hunt without getting prequalified could leave you disappointed at not being able to afford the home you have fallen in love with....
If you are planning to buy your first home this year, put yourself in the best position to do so by sticking to these ten financial fitness tips....