Port Elizabeth on MyPR: In anticipation of the US Federal Reserve bank hiking its benchmark Fed Funds interest rate, the first rate hike in the US in almost a decade, the South African Reserve Bank took proactive action by hiking the interest rate by 25 basis points at the last Monetary Policy Committee meeting. This was an attempt to lessen the residue effect that the hike would have on the South African market. Some economists believe that the reaction of the US equity markets to the hike … [Read more...] about How the US Fed hike could impact South African markets
adrian goslett
Think before you accept that highest offer
With the growing demand for property and many areas experiencing stock shortages, it is becoming more and more common for sellers to get multiple offers on their home, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa. He notes that while it might be tempting for the seller to accept the offer with the highest monetary value, it is essential that they assess each of the offers they receive based on its own merits. "At first glance it would seem that the offer with … [Read more...] about Think before you accept that highest offer
‘Huur gaan voort koop’
Many tenants may find themselves in a situation where the landlord decides to put their rental property on the market. What rights does the tenant have if this happens? Are they within their right to breach the lease agreement that they have in place with the landlord? Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, says that according to South African legislation a landlord is not prohibited from selling the rental property to a third party while the property is … [Read more...] about ‘Huur gaan voort koop’
Your 2016 Property Outlook
During 2015 the South African residential property market continued to see improvement with consumers still placing a high value on homeownership. This is despite the fact that consumers experienced increases in electricity tariffs and interest rate hikes. While there were many prospective buyers who struggled to meet deposit requirements during 2015, those with access to finance were ready to embark on their journey towards homeownership and get into market as soon as possible. This is … [Read more...] about Your 2016 Property Outlook
Go it alone or hire a professional?
Five factors to consider before embarking on DIY Home Improvements. Certain household improvements may look easy enough when viewed on TV or the internet, but they are not all as straight-forward as they seem. This brings about the dilemma of doing the project yourself or calling a professional. Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett, says that there are a number of factors homeowners should consider before they decide to embark on a home improvement project … [Read more...] about Go it alone or hire a professional?
5 Tips on buying a Port Elizabeth home long distance
Moving across the country, whether for employment opportunity or family reasons, can be a daunting endeavour. However, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, although it can be challenging at times, we live in an age where technology has made the world a smaller place which makes moving across the country - or the world for that matter - far less difficult. Goslett provides a few tips for buyers who are looking to find the right property during a long … [Read more...] about 5 Tips on buying a Port Elizabeth home long distance
Invest your Tax Refund in your home
During July this year many homeowners would have submitted a tax return and possibly received a lump sum of money back from the South African Revenue Service. Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, says that getting a tax refund is an ideal opportunity for homeowners to invest in their home and make some changes that could add value to their property. "There are several ways in which homeowners can use their tax refunds to make home improvements, regardless of … [Read more...] about Invest your Tax Refund in your home
Learn from the mistakes of others…
While it is useful to learn from your mistakes, it is far more ideal to learn from other people’s mistakes and thereby avoid making them altogether. According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, this is particularly important when selling a home. He provides a few common mistakes that sellers have made in the past, in the hope that future sellers avoid repeating them: Selling the home privately: There are certain things that should be left to the … [Read more...] about Learn from the mistakes of others…
Renting vs Owning
Although a worthwhile endeavour, deciding to take the step away from renting and towards owning a property comes with its own set of challenges. For this reason, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, it is best to consider all the pros and cons before signing on the bottom line. He provides some pros and cons to think about: Renting vs Owning Pros and Cons PROS CONS The home is yours to customize: Goslett says that one of the best things … [Read more...] about Renting vs Owning
So you want to buy a a fixer-upper?
Buying a home that is in need of attention can be a highly beneficial investment, however, this is dependent on whether the purchaser takes the necessary precautions and follows the right procedures, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa. “Regardless of the kind of property that the buyer is choosing to invest in, it is important that they do the required research and lay down the groundwork before committing themselves to the purchase. This is especially … [Read more...] about So you want to buy a a fixer-upper?
High electricity tariffs and cost of living affecting property ownership
According to statistics from the South African Savings Institute, at the end of 2014 the average household debt to disposable income ratio was around 78.3%. Essentially what this means is that the large majority of consumers in South Africa are not able to put money aside for savings because of their high personal debt levels. Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, says that compared to other emerging markets throughout the world, South Africa is considered to … [Read more...] about High electricity tariffs and cost of living affecting property ownership
Are you ready to own a home?
Homeownership is a milestone that most consumers aspire to achieve. It is a step towards growing personal wealth and owning an asset that will appreciate in value over time, provided of course that the correct principles are applied during the purchasing process, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who notes that owning a home can influence the owner's financial well-being for the rest of their lives. "There are several benefits to owning a property; … [Read more...] about Are you ready to own a home?
Buying a home costs more than just the bond
When it comes to purchasing a home there are more financial elements to take into consideration than just the bond repayment. This is according Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who points out that while the bond repayment is a major consideration, there are also a number of other costs that a potential home buyer will need to make provision for. “Very often when buyers are looking for a home that they can afford, they look at how much they will need to … [Read more...] about Buying a home costs more than just the bond
How to make that offer more enticing
With growing numbers of buyers ready and eager to enter the property market and the supply of available property diminishing, multiple-offer scenarios have become commonplace in today’s real estate sector. This is according to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who says that buyers need to be prepared to go up against other buyers and ensure that their offer stands out in order to get the home that they have their heart set on. “The millennial generation, … [Read more...] about How to make that offer more enticing
Be smart when buying a home
While saving up a deposit to purchase a property is a great financial feat, there are several other financial considerations that buyers need to keep in mind when preparing to purchase a home, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa. “Having savings set aside is a major part of preparing to buy a home, but there are also several financial missteps that buyers can make that will complicate their prospects of being able to purchase a property,” says Goslett. … [Read more...] about Be smart when buying a home
