Rate hikes shouldn’t deter potential home owners – expert
A property expert says even with the recent interest rate hike, it is never not the right time to buy property.
This is because property works like a savings account where the earlier you start saving, the better.
Marketing manager at Engel & Völkers real estate company, Helandi Moolman, says the property is a long-term investment and it is important to climb the property ladder as soon as possible.
"The best advice is to buy whenever your finances allow you to take that step and yes if you want to buy property do it now or as soon as possible in order to start building your own property portfolio. Almost like saving funds, the earlier you start the better."
She adds rather than selling or renting out the property if access to the bond is available, one can use it to upgrade their current property while increasing its value.
However, it is important for one to ask themselves if there is really a need for an upgrade on the existing property and if the upgrade will make sense to the next buyer.
