The most important part of the journey to becoming a homeowner will always be one’s ability to create a master plan with a realistic timeframe and a foolproof strategy to enable the implementation of every step.
To achieve a new year’s resolution of becoming a homeowner in 2020, Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett, therefore recommends that buyers will need to develop a strict financial plan for the new year.
“Those who want to make their dream of purchasing property a reality in 2020 will need to find a financial advisor to evaluate their current financial situation and determine whether it is possible to execute the goal within the year. Buyers need to analyse their current income as well as their investments and set up savings schemes that will ensure the procurement of the funds needed to obtain their goal within the timeframe,” Goslett explains.
The next step would be to find a bond originator to acquire pre-approval for a home loan. A bond originator will determine the amount for which a buyer qualifies. This will prove helpful when setting up a budget for the house hunting process.
“Reaching out to a local real estate professional will also prove helpful in this regard. Real estate professionals will give buyers an indication of the true market value of homes within their preferred suburbs and can guide buyers in the right direction in terms of where to look for homes that are within their budget. They also know the available stock on the market and can therefore advise on the likelihood of finding a home that meets the buyer’s search criteria before the year is out. It might be that the buyer’s ideal home is within a new development that will only be completed in 2021,” Goslett explains.
With all the information gained through the above-mentioned tips, buyers will have a clearer view of the budget, the amount required to save, and the time it would take to find the desired property. The key to obtaining the goal then comes down to self-discipline and determination.
“Your dream of owning a home can become a reality provided you take the necessary steps to ensure that you have a concrete plan and the unwavering self-discipline to follow through. I therefore encourage all those who dream of becoming a homeowner to take the first step and turn their dreams into actionable plans set within attainable timeframes,” Goslett concludes.