select
|

Breaking through ‘buyer’s block’

Finding the “dream home” that matches your budget is always a challenge and most homebuyers realise that they should put lots of time and effort into the search since this will be one of the most important purchases they will ever make.
 
But no search should last so long that it leads to “buyer’s block”, says Martin Schultheiss, CEO of the Harcourts Africa property group. “This term refers to the condition suffered by buyers – especially first-timers – who are so overawed by the prospect of buying something they will be paying off for decades that inertia sets in and they simply cannot make up their minds.
 
“And their state of indecision is generally not helped by any amount of well-meant advice from friends, relatives or colleagues.”
 
The best remedy for those who find themselves stuck in such a dilemma, he says, is to “go back to basics”, starting with a really good look at their budget again and a firm decision about how much they are willing to pay.
 
“Then make a list of those home features you regard as absolutely essential, and pinpoint a few areas where you would like to live. And finally, give yourself a time limit in which to conclude your home search.”
 
Once you’ve done this, Schultheiss says, you should review any homes you have already seen to check if they match up your price, feature and area criteria, and forget about those that don’t.
 
“And don’t worry if none match. Just start a new search with the help of reputable estate agents in the areas that interest you, and visit only homes that are within your price range and conform to your essential requirements. Then pick the one you think offers the best value for money and go for it.”
 
He says those new to the market should bear in mind that any home they can afford that is in a good neighbourhood and good condition will be a good investment over time. “Your aim, quite simply, should be to buy your own property and start building wealth as soon as possible, not to keep searching for the ‘bargain of a lifetime’ while you carry on paying a landlord rent.”
 
 
ISSUED BY HARCOURTS AFRICA


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 19 Feb 2018
      Situated approximately halfway between Johannesburg and Pretoria, Midrand was established in 1981 and forms part of the City of Johannesburg Metropolitan Municipality. It has become one of the major business hubs in the country with major pharmaceutical, textile, telecommunication and motoring giants situated within its boundaries.
    • 19 Feb 2018
      The PayProp Rental Index Annual Review of 2017 shows that the rental market suffered from much volatility during the year. It kicked off with rental growth spiking in January with weighted year-on-year growth (YoY) growth peaking at 8.3% before dropping to 6.34% in July, dipping down to less than 5% in November and then experiencing a slight uptick at 5.75% in December.
    • 19 Feb 2018
      While most homes in cluster complexes, estates and other gated communities come with at least one garage or carport, residents would often like additional permanent parking or storage areas for things like trailers, bikes, boats and caravans.
    • 16 Feb 2018
      Whether you own a property in a sectional title complex or are looking to invest in one, the financial standing of the body corporate is the single most important thing that can affect your investment or your buying decision.
    • 15 Feb 2018
      One positive consequence of the financial crash in 2008 was the rise in consumerism, especially in the property market, where buyers have steadily become more knowledgeable and more value conscious.
    • 15 Feb 2018
      While most homeowners will take the agent’s commission into consideration when they are trying to determine what the will get out from the sale of their property, many often forget to factor in the other costs involved in a home sale, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 14 Feb 2018
      The forecast for the national rental market in 2018 remains a mixed bag of good news and bad news. Although rentals are expected to rise slowly as the challenges of home affordability and tighter lending criteria tighten their grip, it’s a double-edged sword as the market also will come under increasing pressure from factors like declining disposable income levels.
    • 14 Feb 2018
      While you may not have intended to place your home on the market, what do you do if you receive an unexpected offer on your home? In areas where demand outweighs the current supply of homes available to buyers, it is not unheard of to have buyers make offers on homes that aren’t on the market, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
        
    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