When is the right time to buy and sell? This is never an easy question to answer. There are factors one needs to consider when selling your property to either upgrade or relocate.
With interest rates low, the affordability of property has improved. Within the current climate both selling and buying is acceptable. How long will interest rates remain this low? The interest rate is a major driving factor in property prices and movement. People will always relocate because of better employment prospects, or the other four reasons which also drive property movement.
Do you nee to upgrade to that needed larger family home? It would be advisable to consider this now. When you sell property you want to sell at the highest price, but consider the effect of all the factors. Will you "replace" your new property with what you had at a similar value? You would of course want to buy a better property than the one you currently have. There is currently a slight shortage in available property, which does add to a gradual rise in property value. An increase in the interest rate will further diminish the demand for property, resulting in gradual price rises. You would like to make a profit on the sale of your property, and so will the next seller expect the same.
If you bought your property during a market slump with higher interest rates, you can make a profit by selling your property.
The time of the year and interest rates are important factors to take into account when you are thinking of selling or buying property.
It is also good to know that because of more favourable interest rates and bank lending policies, properties sell in a shorter length of time.
With the many properties listed on Myroof.co.za, there is a huge selection of properties to meet all your requirements.