9 tips for first-time buyers in Brackenfell

9 tips for first-time buyers in Brackenfell

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Holding the keys to your new home is a great feeling. It's part of the South African dream to have a place where you can put down roots. Somewhere you can call your own. If you're a first-time buyer, the plunge can be a thrilling journey. 

With home loan approval rates going up, nothing should stop you from finding your perfect home. To help you navigate the process, here are our top nine tips for buying your first home in Brackenfell.

1. Get pre-qualified by your bank

This should be done before you start house hunting. It helps you see what kind of bond you can secure. When you find a property you love, you'll rest easy knowing you can afford it. You'll also stand a better chance when you make an offer. 

2. Seek a reputable bond originator

Bond originators like ooba engage with banks on your behalf to increase your bond approval chances. They know the bank's criteria and have developed relationships with these financial institutions to get you the best deal.

3. Work on your finances

Some banks may require a lump sum deposit towards your home loan. Even when it's not a requirement, you'll find saving for a deposit can make it simpler to qualify for your loan. You'll also benefit by getting a better interest rate which will lower your monthly loan repayments. 

Your credit rating will also need to be in good shape. Keeping on track with your payments and sorting out unpaid accounts will work to your advantage. After all, you need to show you can be responsible with your home loan repayments. 

4. Be wary of hidden costs

First-time buyers are often surprised by the 'hidden' costs beyond the bond repayment. These include:

• Transfer and bond registration
• Levies
• Household insurance
• Monthly rates
• Taxes
• Utilities 
• Home improvement
• Moving expenses

By factoring these into your budget, you can ensure you meet your homeownership goals. 

5. Seek the help of a professional

A qualified and experienced real estate agent can make or break your property goals. Seeff Brackenfell's agents are respected in the community. You'll benefit from their insight and influence. They guide you through the financing, represent your best interests and keep an eye out for newly listed properties you'll want to see. 

6. Explore the community

Brackenfell gives you many options from Burgundy, Ferndale to Protea Heights. Each suburb has its own unique flavour. Take time with Google Maps to see what each has to offer. By visiting these areas, you can also get a good idea about the traffic, noise level, safety and other fun activities you might be interested in the area.

7. Do your homework

It's important to know what types of property you're interested in and match your needs accordingly. A large townhouse with a pool, for example, might seem appealing. However, it's pointless and costly if you never end up using it. It's also a smart move to check out the average selling price for homes around the area.

8. Go see many listings

You can't find a prince unless you kiss a couple of frogs. While it may seem tedious, this will help you make an informed decision when it comes to the price, area and property you are buying. 

9. View with a fine-tooth comb

Every home you look at can pass in a blur. By taking notes, photos and videos, you can review the property after your visit. Don't be afraid to ask as many questions as possible. Enquire about defects, faults, rates and why the owners are selling. You should also check out your neighbours as they'll impact your quality of life in the area. You can schedule a second viewing if you want to look at the property again. 

Whether you're a first-time buyer or property veteran, you're in capable hands with Seeff Brackenfell. View our property listings and trust our expertise to help you make your move.

Author: Seeff