The ideal search process for home buyers
Category Blog
In the past two weeks, there has been a noticeable increase both in buyer activity and commitment to making offers. When buyers start to bubble, and put in offers, it is invariably before sellers have fully realised that the low tide is starting to turn. It is that little window of opportunity, of only a couple of months, when buyers seemingly catch up with sellers at a stage when they (the sellers) have not yet, in fact, fully realised that the market is changing direction. Offers land with greater success. And perfect timing is achieved.
Also, the market is still priced at yesterday's prices and it is only the new stock that is now priced higher as sellers try to capitalise on the turnaround. The same process played out in the homes market during the "Ramaphoria" period when President Cyril Ramaphosa was elected head of the ANC at the party's NASREC Conference.
Success in finding a new home is all about how you conduct your search. Today's digital property portals are a 'must-have'. They are the most powerful single search route to home buying and selling. Tech-savvy 'millennials' are aware of this, and would claim that digital is the only way to go. Almost true - but the weekly property inserts in newspapers, and some magazines, do play an important and helpful support role.
Experienced and entrenched estate agents in the neighbourhoods you're targeting should be an essential step in the search process. It is them who can fill in the colour, personality, security trends, and lifestyle profile that the homes and the suburb offer. The agent will also have a handle on local nuances, people living in the area, and idiosyncracies, as well as on the key issues and developments that influence or impact the suburb, such as social and zonal planning. The trick is to tap into their knowledge base. Ask a hundred questions. The information you acquire will almost definitely influence your purchasing decision.
Develop a 'feel' for target areas
Developing a feel for the suburb will assist too in reaching the right price you're comfortable paying. Visiting show days, as many as possible, even if they are not in your price bracket should become a regular activity. In this way, you become as well informed as the local agents and therefore less likely to be influenced unreasonably. Buying such a major asset as a property should involve as many process as possible (and all five senses!) No short cuts.
Author: Ronald Ennik
