First the Budget Then Make a Decision first time home buyers

First Listen to the 2012 Budget Speech Then Make Up Your Mind

If you are a first time home buyer now is the perfect time to empower yourself and get in there while the going is still good.  You will soon be able to decide on buying a home, depending on the outcome of today’s 2012 budget speech.

First time home buyers take note!!

·         Interest rates are lower than they have been in decades.

·         Property prices are really, really good at this point in time.

·         Banks are easing up on their lending criteria, which is a positive move in the right direction borrowing  that much-needed money.

·         Empower yourself if you are a novice home buyer with the kind of knowledge that you will need when looking for a bond or wanting to borrow money.

·         Property is an important investment, therefore location is key.

·         Buy the cheapest home in the best area; this way you will never lose value on your investment.

·         When buying a home it is important to take convenience, access to your job, and security as well as safety into account.

·         A home close to schools is excellent for resale.

·         If the area you have your eye on is too expensive, then perhaps the suburb right next door is a good second option.

·         Noise levels also devalue homes; therefore a home in a quiet area might be a better option.

·         Interest rates are always a factor to take into account; find out first what Pravin Gordhan has to say in his 2012 budget speech, and then make your decision according to what the outcome of the latest budget as this will most certainly have an effect on finances for the next 12 months.

·         Buying a “renovator’s dream’ “is certainly an option, especially if you are deft with a hammer and nails. Buying cheap in an excellent area and doing up a home is a very good option, and many home owners find this to be the case.

·         Aesthetic flaws are obvious, but hidden problems are not that obvious when buying a home, therefore it might be advisable to have the house inspected by professionals before putting in that offer.

·         If alterations were carried out on the home, ensure that all the plans are in place when you sign on the dotted line.

Before you buy your new home, wait for the outcome of today’s 2012 budget speech, and then make your next move.

A good point of entry is to start searching for your dream home online, where you will find a plethora of choices, and also the property section in newspapers in your area of choice. A good estate agent will be able to advise you and point you in the right direction, making the whole process a lot less emotional and stressful. Some banks are giving 100% rates for bonds, but it is advisable to have a deposit in order to secure a loan, and increase your chances of actually getting that sought-after bank loan or bond.

After listening to Pravin Gordhan’s 2012 budget speech, and after doing some necessary homework and having fine-tuned your plan to buying your first home, your next step would be to approach your bank.