OF BUYERS’ MARKET
THE MARKET outlook for 2019 may still be uncertain, but Rudi Botha, chief executive of bond originator BetterBond, says now is a good time to buy property.
The reaction to major economic or political events, as well as property trends, demand and supply, varies from suburb to suburb, so Botha says prospective buyers should set their own purchasing agendas.
Botha says they should buy as soon as have the necessary funds, and get started on building up the equity and creating wealth for themselves.
Naturally, however, there will be some resistance to buying among those people who know they are going to have to move again in a year or two.
“Our advice to these consumers is that it may be better to use this time to save up a substantial deposit for a home in their new location.
“However, those who are staying put should, we believe, buy as soon as they can afford to do so because overall market conditions favour buyers at the moment. There is still a surplus of stock for sale and it is relatively easy to obtain a home loan.”
BE PREPARED Those not ready to buy should use the time to save for a deposit.