Is winter really a bad time to try and sell your home?
The widespread belief that winter is not a good time to sell a home is very far from being true.
This is according to Rowan Alexander, Director Alexander Swart Property, who says as an experienced agent looking back on his own experiences, it is now clear that some of his best months were in mid-winter.
He says buyers tend to be ‘really serious’ in winter, and not just checking out the market and the neighbourhood. They are also quite frequently in a hurry to find a new home.
Why you should resist the urge to ‘borrow’ from your home loan
Homeowners who have an access bond facility on their home loan might often be tempted to borrow a little against what they have paid off each time they are cash-strapped - perhaps wanting to consolidate smaller debts or when they need an extra boost for a larger item they’d like to buy for their home - but this is not advisable according to Michael Bauer, managing director of property company SAProperty.com.
According to Bauer, this is often a strategy some people recommend, as interest rates on credit cards and short-term loans are often much higher than the home loan interest rates, and for many, this is a preferred way of borrowing cash.
Are you ready to go from renting to buying a home?
Before you decide to stop renting your home and buy one of your own, there are a few things you will need to consider.
“The first of these is whether you are ready to give up the flexibility of renting for the greater permanence of homeownership. If you often have to relocate for work or like to travel and take on contracts in different parts of the world, it’s great to be able to pack up and go within a couple of months - and not have to worry about home maintenance or the security of your property,” says Rudi Botha, CEO of national bond originator BetterBond.
“Buying a home also involves many expenses other than the purchase price, and in most cases you would need to stay put for a few years for the value of the property to grow sufficiently for you to recoup these expenses.”