People Wanting To Buy

People Wanting To Purchase Property Must Think About This! — Andy Blog

A lot of people have decided to move to Gauteng in the past and and continue to flock in search of better jobs. Salaries are much rewarding in Gauteng than in any other South African province, reason being sighted as higher levels of productivity. Salaries in Gauteng are 70% higher than the national average according to an financial report written in the Business Report. This indicates that more people will be able to purchase property in Gauteng so that they can be nearer to their work.

This has been reflected in the property markets with an increase in residential sales in 2010. The markets favouring the buyers and investment buyers and not the sellers. This is even more encouragement for those wanting to buy houses as they will find affordable property. On the Atlantic Seaboard in Cape Town the contrary is happening with less people buying those lavish mansions.

If you are looking to buying property in Gauteng but need some advice on how to go about it, then you have stumbled across the proper article. Here are a few tips when buying property in Gauteng.

1. Get your ducks in a row

You need to do many hours of research before buying property in Gauteng- this is of course true irrespective of where you buy the property. You need to find out information with regards to the markets, your financial situation, the area you are thinking of buying in, and what different packages banks can offer you. For example the Old Mutual Investment Group has set aside R9 billion, for housing funds for people who earn below R15 000 per month. Find out this sort of information and you will be surprised just how much money you could end up saving. The internet is a great tool to use to gather this type of information but also your local newspaper.

2. Get pre-approved

Based on your salary or joint salary of you and your partner you need to know how the price range of the properties you can afford. Once you have a better idea of what you can afford to buy, you can save time and energy viewing houses which are outside of your budget.

3. Save

I cannot stress the importance of saving your money long before you actually buy your house. Having saved a substantial amount of money, banks will more readily approve your bond. The more you save the better it is for you. So get your pre-approval and start saving.

4. Rent before you buy

Have you have only just moved to Gauteng? If you have and you are thinking about property in Gauteng then I suggest you rent for a few years to afford you a better understanding of the different suburbs. Although you may initially like a neighbourhood it is only once you live there that you will be able to get a better understanding of the place. After a while you could find that the neighbourhood is too quiet, not close enough to work or has a high percentage of house break ins. Allow yourself the time.

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