Spring property buying season blooms

If you leave it too late you’ll end up at the end of a queue of market-savvy buyers who have already decided that spring is the time to move ahead with their property buying plans.

So says Colleen Gray, MD of CENTURY21 South Africa, who notes that the better general mood that comes along with improving weather has a lot to do with the traditional upturn in property sales at this time of the year. “However mood alone is not the reason for the better property outlook right now.

“There are plenty of reasons to get going on that long delayed property purchase - a market that looks like it’s about to turn for the better, the gradual improvement in the availability of bond finance and the general improvement in the economic outlook.

“Also, the over-supply of homes for sale at reduced prices won’t last forever, interest rates are at a recent low and together with softer prices, the relative affordability of property has greatly improved. Moreover, for first-time buyers, rents are still rising and they have an added incentive to buy a home now, so demand must increase.”

Obviously, she says, not every home on the market is going to be a stunner and you should not property shop with reckless abandon. “But if you’re content that there is a convergence of market conditions favourable to your own situation, you should definitely get out there and get on with it.

“In other words buy a home because, for you, it's the right thing to do. Buy because it's more affordable than renting, because you plan to stay put until it pays off, because it is a good fit for your lifestyle and your personal goals or because of all of those things and other possible factors.

"Remember, too, that the wisest and most serious buyers are in the market already, and don’t underestimate the spring factor. Just walk around your neighbourhood to pick up the vibe from the increasing number of ‘Sold’ signs and you’ll get the picture.”

Article by: www.century21.co.za