Advice for buying your first property in 2019

If you’re planning to buy your first home this year, it’s important to consider some pointers before you close off any deal. Our nation’s slight recovery from a recession and the lower fuel prices have indicated a good start to the year. This is what Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa had to say about the residential property market outlook for 2019.

Goslett predicted that house price growth would be more likely to be sluggish in the first and possibly second quarters of the year, as we wait for the results of the mid-year general elections.  “Consequently, I also believe that the current market presents the prime opportunity for buyers who might be able to get in before the market swings back in favour of the seller,” advised Goslett.

He advises first-time buyers to try and apply for a bond in the first half of 2019, while the market is still favorable for homebuyers. “To get the best possible price, buyers should do their research and make sure they know what houses are selling for in that area – not just what they’re being marketed at – so that they put forward the most reasonable competitive offer. Since the property market in general is likely to be off to a slower start in the first half of the year, it is likely that sellers will be more open to negotiations than if we were in a more thriving market, as we might well enter into towards the end of the year if things continue to go favourably for our country,” Goslett advised.

For first-time renters, Goslett advised that you should not be hasty in finalising any decisions until you’ve done your market research.