The process of buying a home

Buying a home is usually the single biggest family investment you will make in your lifetime. It is not only a major financial commitment but can also be an emotional experience.

CHOOSING THE HOME THAT IS BEST FOR YOU

It will ultimately depend on your personal preference whether you choose a free-standing property, a small-holding or sectional title such as a flat or townhouse. Factors such as security, privacy, space, originality in design and convenience have to be taken into account

"GOLDEN RULE" FOR BUYING A HOME

Location, Location, Location are the three golden rules for buying a home, but issues such as convenience, proximity to work, family, friends, schools and investment prospects will also be considered. Crucial however, is ensuring that you secure the correct price. Buying property in the right location and at the right price, will add to the investment value of your home.

Minimum Qualifications

Better Bond , our preferred bond origination partner, will assist buyers with their financing needs through the four (4) largest financial Institutions in South Africa.

The maximum repayment term on residential or sectional title is 30 years. Vacant land is repayable over a maximum of fifteen (15) years.

Who Qualifies?

  • Individuals (single or joint) with a regular and reliable source of income of at least R3 500 per month.
  • Any person whose employer has a group scheme arrangement with any Financial Institution.
  • A close corporation, trust or company that was formed for the purpose of owning a residential property (the income of the individual (being a member, trustee, or director) is assessed for affordability).

 

The process of selling your home

Selling your home could be an extremely painful experience if not handled correctly. Breaking the connection with the security and memories of your home is not easy. On the other hand however, the prospect of your new home may promise exciting opportunities.

It is therefore important that the person and company who will assist you in the sale should be selected with extreme care. Trust, experience and knowledge are the attributes needed to ensure a smooth and hassle free selling process.

When you decide to sell your home there are mainly two (2) options available to you:

  • Selling Privately and/or
  • Sell with the assistance of a qualified professional.

 

Selling Privately

Many people consider this option, because they have a perception that they will be saving commission. This is actually the most dangerous decision a seller could make.

Privately sold properties on average are 12% higher than market value due to the inability of the private seller and/or private buyer to correctly price the unit. These sales are usually controlled by emotion.

Selling privately is a complete breach of security, as you invite strangers into your family home.

Usually the lack of negotiation skills, knowledge of market trends and contract buyers and sellers alike can run into major difficulty and financial trouble during this process.

A seller opens himself up for a double commission claim when selling privately, although this is the exception and not the rule - it is currently a real factor in the South African market.

Even with all these pitfalls, some people prefer to deal with private sellers -- that is their choice -- but ensure you know the risks involved.

Selecting the Right Agent

Your estate agent should be selected as carefully as you would a new doctor or attorney, after all this person will after all be working with your family's largest investment, your home. There are many inexperienced and unqualified agents in the market place - do not select your agent on promises but rather action. The estate agent's responsibility is to successfully market your property and that's what they get paid for i.e. marketing not selling.

According to price analysis done through the years it has shown that you will achieve your highest selling price in the first 3 - 4 weeks of marketing your home. Pricing therefore becomes a crucial part of marketing. A qualified estate agent should be able to provide you with supporting documentation for a suggested marketing price. This is called a comparative market analysis.

An experienced agent will provide you with a marketing schedule of activities. This action plan acts as a road map to your desired destination. For Sale Boards and advertising alone, does not sell houses.

A qualified agent will be able to best advise you on appearance and presentation of your home. This agent will manage the process of sale, contracts and finance. A good agent will be your partner throughout the selling process.

Pricing your home correctly

The Secret to a successful sale starts at PRICING your Home correctly…

It takes on average 45 - 60 days to market and sell a property successfully. A SELLER usually receives the highest offers within the first 3 - 4 weeks due to more buyer activity. After the 4th week it is only NEW Buyers that may view the home.

The longer you stay in the market the more your home "depreciates"…

Although many people believe that "We can always reduce the price…" it is actually the opposite that is true. The longer your home stays in the active market the more "Shop-Soiled" it becomes.

When buyers notice that a particular property has been in the market for a prolonged period they believe that they will also "battle" to sell the house when they wish to sell. This stigma makes buyers believe that the house is not a good investment.

Why select AIDA?

Our Key Marketing Activities include…

Provide a complete Saleability Analysis of your home,
Including a written Comparative Marketing Price Analysis.
Advise on how to Best Profiles your Home,
Benefit from the combined effort of All Aida Agents in the office
Have access to the Aida Buyers Database
All Buyers are Pre-Qualified before they are introduced to your property
Referring your details to the Whole Aida Network, if required
Become part of the Agents Personal Marketing Program
Have a personal Home Information Brochure of your home
A professional For Sale Sign, if necessary
Access to several relevant Advertising mediums available
Discuss and design unique marketing opportunities
Extended exposure through the Aida Website
Various Professional Marketing Materials
Profiling in relevant National Media campaigns
Exposure through our professional Show House program
Information on any relevant Market Changes
The use of all available Marketing Channels
Regular Feedback of our marketing activities

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