Demand for free-standing homes in Tijgerhof & Sanddrift is surging! 🔴
Category Property news
The repo rate cut has remained unchanged but at 3.5% it is still the lowest rate in almost 50 years, resulting in a prime interest rate of just 7%.
As a result of this year's rate cuts, we have seen a surge of first-time buyers looking to enter the market. Coupled with rising demand for bigger homes as companies have shifted towards the work-from-home strategy as a long term solution, we have seen a substantial increase in demand for free-standing houses as many families look to upscale. This has created a unique opportunity for homeowners who've been thinking about selling within the Sanddrift and Tijgerhof area.
If you have been toying with the idea of selling, all indicators point that now may be an opportune time to do so. However, before you get started, we thought we'd provide you with a few useful pointers before you put your property on the market.
Firstly, choose the right broker to market your property. Choose a broker that has experience in your area as well as the marketing expertise that is required. It's imperative that you choose a broker who has the skills when it comes to negotiating as this is vital throughout the process.
Secondly, avoid listing with multiple agents. You may think that it only increases the exposure of your property, however, various studies have found that when you list your property with multiple agents, buyers tend to steer clear. They assume that either there is something wrong with the property itself or that the seller is desperate and ultimately attracts low ball offers from purchasers trying their luck. Additionally, if purchasers come through multiple agents, the ability for them to compete against one another and drive up the price naturally is lost.
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A crucial factor to consider is the price. The right market-related price is vital in achieving a successful sale. Your broker should have an informative figure on the best price to list your property based on their experience in the area, recent sales data, and analytics. Overpricing can be dire, especially in these market conditions, and could lead to your property going stale on the market.
Use the right conveyancing attorney to facilitate the transaction. Speak to your broker about options on established conveyancers with the necessary know-how, who operate quickly and efficiently, as they have just as much interest in a smooth and timely transaction as you do.
One common misconception with homeowners is the need to renovate before selling. Making minor repairs won't do any harm, however, we don't suggest doing extensive renovations. Injecting tons of money into your property without being able to reap the rewards makes little sense. You also put yourself under immense pressure in trying to recover the capital invested back into the sale price. We find that often purchasers are not looking for a "finished product", but rather to make it their own as they go along.
The last, and arguably most important factor would be timing. With many homeowners on payment holidays at the moment, economists are predicting that a flood of properties will enter the market towards the end of the year after these payment holidays expire. This will ultimately increase price competitiveness as there will be an influx of sellers as well as a vast selection of properties to choose from, for the prospective buyer. It is also uncertain for how long these interest rates will hold and this is why we'd suggest going to market now while selling conditions are favorable and demand is ripe.
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Recently Sold & Listed by Greeff Christie's International Real Estate in Sanddrift & Tijgerhof |
🔴 SOLD
Elegance Road, Sanddrift
ZAR 1 925 000*
🔴 SOLD
Pringle Road, Sanddrift
ZAR 1 695 000*
🔴 SOLD
Chepstowe Place, Tijgerhof
ZAR 1 080 000*
🔴 LISTED
Howard Davis Road, Sanddrift
ZAR 2 495 000
* Asking price
Author: Greeff
