25 November 2024
If you've been renting for a while, and you love the neighbourhood you're in, it might be time to consider making the transition from tenant to homeowner.
According to Jacqui Savage, National Rentals Manager for the Rawson Property Group, renting
offers a fantastic opportunity to get to know an area intimately, experience the local amenities, and decide if it's the right place for you in the long term.
Once you’re certain you’re in it for the long haul, however (or you’re excited by the neighbourhood’s rental dynamics) transitioning from tenant to homeowner or investor can be a very smart financial decision.
The journey from renting to owning
Regardless of whether you’re buying a property to live in or to rent out as an investment, the transition from renting to owning can be a little daunting at the outset. With the right guidance and resources, however, it’s possible for the experience to be both smooth and rewarding.
The Rawson Property Group has developed a comprehensive suite of services designed to achieve exactly that, simplifying the process to help you achieve your property ownership goals, stress-free.Here’s what you can expect.
Step 1: Assess your financial readiness
The first – and arguably most crucial – step in transitioning to property ownership is understanding your financial position. This is where Rawson Finance comes into play.
As the in-house bond origination division of the Rawson Property Group, Rawson Finance specialises in assisting potential homeowners with prequalification, making the entire process of assessing your financial readiness straightforward and hassle-free.
“Prequalification is a preliminary assessment that determines how much you can borrow from a lender,” says Leonard Kondowe, National Manager for Rawson Finance. “This gives you a clear idea of your budget and ensures that you’re looking at properties within your financial means. It also lends credibility to any offer you may place on a property when the time comes, raising your chances of acceptance above those of any un-prequalified competition.”
Step 2: Improve your credit score (if necessary)
According to Kondowe, a healthy credit score is critical for securing favourable home loan terms. If your credit score needs improvement, however, Rawson Finance has your back, offering a six-
month rehabilitation programme designed to boost your financial standing.
“Our rehabilitation program provides tailored advice and support to help you address the specific credit challenges affecting your credit rating,” says Kondowe. “Over the course of six months, we’re usually able to have a significant strengthening effect on buyers’ financial standing, dramatically improving their chances of securing a favourable bond offer.”
Step 3: Secure the best home loan
Once you’re prequalified and your credit score is in good shape, Rawson Finance can also support you across the finish line by helping you secure the best home loan deals in the least amount of time.
“We do this by working with multiple lenders simultaneously, increasing your chances of getting the highest possible bond at the best interest rates,” says Kondowe. “Our strong relationships with banks allows us to negotiate favourable terms on your behalf, maximising your chances of securing a great home loan.”
Why choose Rawson Finance?
Rawson Finance has been helping South Africans achieve their property dreams since 2008. Their services are free of charge, whether you end up purchasing a property or not. This zero-obligation service provides valuable insights into your buying ability and puts you in a strong position when the right property opportunity comes along.
Making the move easier
The Rawson Property Group’s comprehensive service offering makes the transition from renting to owning property easier than you could ever imagine. Beyond their extensive rental management experience, they provide a one-stop-shop solution for all your property needs.
Whether it's managing your rental property or assisting you on your journey to homeownership, the Rawson Property Group is there, every step of the way.
