Need your property questions answered?
Interest rates are rising, but your homeownership dream doesn't have to stop!
With rising petrol prices, food costs, and another increase in interest rates, many people are wondering if now is still the right time to buy a home.
The answer is yes — but preparation matters more than ever. 💥
If you are planning to buy property in the next few months, now is the time to prepare financially rather than waiting for the “perfect time.” Interest rates may continue to rise, but careful planning can still put homeownership within reach!
4 Crucial Steps to Take Right Now 👇
1. Manage your debt carefully
Reduce unnecessary debt where possible and avoid missed payments. A healthy credit record plays an important role in bond approval!
2. Protect your credit profile
Avoid overextending yourself financially. What you do with your finances now can affect what a bank may approve later! 📊
3. Prepare for upfront costs
Banks no longer automatically cover transfer and bond-related costs. If you have access to a credit facility, manage it responsibly so it is available when needed.
4. Know your affordability
As a general guideline, your housing costs should remain manageable within your monthly budget. Before starting your property search, find out what you realistically qualify for through a bond pre-approval. 🔍
Get Ready to Make Your Move! 🎉
The good news is that bond pre-approvals are available at no cost.
If you are unsure where to start, a free bond assessment can help you understand your affordability, what you qualify for, and how to prepare for buying in today’s market.
Owning a home is still possible, even in challenging times. The key is not to panic, but to prepare! 📲
Janet Bosman
Candidate property practitioner, RE/MAX Express
Practical property advice for Springs residents – one step at a time.
