select
|

Winter can be a great season for homebuyers

House hunting during winter can be advantageous for buyers willing to brave the cold weather, as there will most probably be fewer other buyers searching, and much less competition when making an offer on a great home.

“Sellers know that spring and summer are the most popular times to look for a new home and often wait to list their properties then, so it is true that you may have fewer homes to choose from in winter. But you could potentially get a much better deal too, because homeowners who are selling in this season are often more willing to negotiate,” says Christine Appel, owner of the RealNet Durbanville franchise.

“First, their home many not have sold during the previous peak season, and there may be some pressure for them to conclude a sale soon. You should always enquire how long a property has been listed and why the owner is selling before making an offer.

“Second, most sellers will appreciate the fact that anyone who is willing to brave the adverse weather to view their home in winter is probably a pretty serious buyer, and that their offer will be worth considering.

“And finally, time is always money for a seller, and the rainy winter weather we experience in the Western Cape also tends to make it much more difficult to get a home ready for viewings or show days. Thus someone who has decided to sell in winter, for whatever reason, probably doesn’t want to prolong the process, or continue paying holding costs any longer than they have to – especially if their intention is to move somewhere warmer.”

Other winter-buying advantages, she says, include the fact that when viewing a home in “extreme” conditions, you will immediately get to see if there are any leaks in the roof and if the plumbing, insulation and electrical systems all work properly.

“And even if it is somewhat less attractive, a house that turns out to need a few repairs can present you with further opportunities to negotiate a reduced offer. Besides, you’ll avoid the potential problem of buying in summer only to discover that the roof leaks when the rains start the following winter – months after the sale has been concluded.”

Moving is also cheaper in winter, Christine says, because it is a quiet period for removal companies and they tend to discount their prices. You will probably also have more flexibility when it comes to choosing a moving date.

“Meanwhile, it is also worth considering the fact that home loan interest rates in SA are currently on a rising course, and could well be quite a lot higher by next summer. The banks are also steadily tightening up on their qualifying criteria, so buying this winter instead of waiting for summer could actually make all the difference, for many people, between being able to qualify for a home loan this year or not, and losing out on their dreams of home ownership.”


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK