By: Natasha Archary

In a constrained economic environment where interest rates are high, property markets favour the buyer.
With careful planning, as soon as a prospective buyer is ready to go house hunting, they can find themselves in a strong position to negotiate with all of the role players in the buying process.
Carla de Abreu, Business Development Manager at proptech company, e4 joins Gugulethu Mfuphi on Kaya Biz, to share some smart home buying tips.
“Negotiating is a good place to start, and it’s something that can give you a good advantage. If you can have a pre-approved bond, before you even start looking for a property, will put you in a better position to negotiate with the seller.
Having pre-approved finance will elevate your offer, as it gives peace of mind to the seller that the sale will not fall through because an application for finance made after the offer to purchase declines.
A substantial deposit, is the second way you put yourself in a stronger position to discuss your interest rates and period of the home loan.
Also the interest rate needs to be considered when taking out a home loan, so it’s important to shop around and look at offers other banks are offering you.
Another point to factor in, is the time that you’re taking the bond out for, obviously the longer you’re taking the loan out for, the smaller your installments will be, but the higher the interest rate will be.”
Carla de Abreu, Business Development Manager at proptech company, e4
Carla shares a few more smart home buying tips which include:
- Not being afraid to make stipulations in your Offer To Purchase. This includes clauses relating to outstanding repairs to the property, or the inclusion or exclusion of certain removable items.
- The importance of putting everything in writing
- Negotiate rates for the legal fees for the conveyancing attorney
- Understand the transactional process and all the paperwork that will be required
Listen to the conversation on Kaya Biz:
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