first time home buyers secrets
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Real EstateTRANSCRIPT
Hermanus Properties
First Time Home Buyers Secrets
Hermanus Properties
To buy your first home is one of the most exciting times in your life but can also be problematic if you do not know how to go about it.
Here are things you should never do.
Hermanus Properties
Underestimate your ability to afford the home loan.How will you know that? Save an amount equivalent to what you are willing to pay on a bond in a separate account. If you can keep up saving this amount each month without fail you may be ready to buy. The savings can now be used as a deposit on the house.Do not put in an offer on a house that does not fall within your affordability range.What can happen if you do?You will only “shoot yourself in the foot “as you will not be able to afford the repayments should there be the interest rates become higher. Sadly you can lose your property and your credibility as the bank can repossess the house should you not be able to keep up the monthly repayment.
Hermanus Properties
Do not just pay the price of the seller
Do not just pay the price even if you are afraid they will sell the house to someone else. Most of the time buyers put the property on the market for more than what they are really prepared to accept.
Do not try and do everything yourself
Rather make use of a house agent that can assist you with valuable tips on what you have to do and when. The experienced agent will also know how to negotiate a better price with the seller as they are doing this work every day.
Hermanus Properties
Do not buy without checking out the location
If you like to go to the beach or camping on weekends it is a bad idea to buy a place where you have to travel for hours to get there. Hermanus for example is approximately 120 km from Cape Town.
It is a stunning place to stay and you can approach one of the estate agents like Hermanus Properties to find out what houses are for sale in your price class, you can also search the websites for more agents before choosing one.
By not rushing and getting too emotional about a place you cannot you most probably will find a place similar to the one you are dreaming of, but one that you can afford.
