There is no better time for women to think about buying homes of their own or becoming property investors, says Gerhard Kotzé, MD of the RealNet estate agency group.
“One reason is that there are currently more properties for sale in most areas than prospective buyers and that prices are accordingly very negotiable,” he says.
“In fact more than 90% of sellers currently have to drop their asking prices by around 10% to achieve a sale, so there is a good chance of being able to purchase more home than you expected for the money you have available.”
Another reason to buy now, he notes, is that it is relatively easy to obtain a home loan. “Of course you need to have a steady household income and a good credit record, but the banks are currently keen to lend to home buyers and are offering good interest rates.
“This is especially true if you have already saved up a deposit and if you apply through an originator like BetterBond, which is currently able to get approval for 80% of the home loan applications it submits.”