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Benefits Of Getting Prequalified

Benefits Of Getting Prequalified

22 June 2020

One of the most important steps in home buying is getting prequalified. Getting prequalified is an important decision-making tool unless you’re planning on buying your home cash. Here are the top benefits of getting prequalified: 

Avoid personal disappointment

You will be able to save a lot of time and effort and avoid potential disappointment. Imagine spending hours, days searching for your dream home. Going through countless listings of beautiful homes that you can see yourself living in, only to find out that you won’t be able to live there because it is out of your price range. Knowing your buying power from the get-go will allow you to focus on properties that fall within your affordability and that can actually be yours! You also won’t have your dreams and hopes shattered. 

Achieve peace-of-mind

Getting pre-qualified will give you some peace-of-mind. It will allow you to address potential issues with our credit ranking, your budget and your spending behaviours before committing seriously to the purchase of a home.  With your financials in order, you’ll be able to cast your worries to something more important, like trying to figure out if you’d like to repaint the lounge walls of your new home, and if you should play it safe safe with grey or take a chance with that bright yellow you’ve been eyeing.

Enjoy competitive advantage

Another benefit of getting prequalified is that it gives you a competitive advantage. With many people seeking decent houses in desirable locations, there will be plenty of offers coming through. This is especially true in the current market that favours buyers.  If you have a pre-approval letter, the seller is more likely to take your offer more seriously. Having the letter will make you a more attractive purchaser and your offer a more credible one. Your letter could be the deciding factor and tip the scales your way! Sellers will know that they aren't accepting an offer that may fall through because you don’t qualify for the required finance, and you will be confident in knowing that you can afford the house, so both parties will be at ease. Having the letter can also fast track your bond application process, reducing your risk of losing the property to another purchaser. 

Make your move

Our partners at Betterbond can submit your bond application to South Africa’s major banks, including your own. The banks will then compete for your business, ensuring you get the best possible bond deal. Ask a local agent to connect you with a Betterbond consultant.

If you’re the type of person who wants instant gratification, try out our Bond Repayment Calculator and our Bond Affordability Calculator. And you may find your dream home here too!

With so many positives, get that pre-qualification certificate and start house-hunting with confidence! 

Our colleagues at Betterbond can help you get pre-qualified. Ask an agent to connect you: https://just.property/find-a-branch/

For more information on Just Property please visit www.just.property or call (087) 550 2258.

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