Over the past couple of years, Black Friday has become more popular among South Africans. More consumers now look forward to this originally American concept, where significant discounts are offered on all types of retail goods and services.
The benefit to consumers is increased value, as they get to enjoy discounted prices and deals on products and services. For producers, the benefit results in added transaction and revenue volumes. The downside of Black Friday sales and discounts is the inevitable over-indulgence in purchases that leave consumers indebted and having to pay off items that diminish in value over time. At a time such as this, where the average consumer’s income has shrunk and businesses are having to survive the pandemic, one wonders if consumers and producers can afford a Black Friday indulgence.
The reality is the Black Friday concept is part of the retail calendar and the best way to take advantage of it is to plan your essential purchases around it and avoid the purchase of non-essential items.
However, what if you as a potential homebuyer could extend these Black Friday benefits to purchase property? Use this period as an opportunity to stem the tide of consumption-based expenditure to enjoy long-term benefits.
Forward-thinking property developers have decided to take the plunge to participate in the Black Friday culture, by reducing their margins to give consumers exceptional value during November. These offers range from discounted prices, furniture packages and in some cases attorney discounts.
If you are considering the purchase of property for primary or investment use, November could be an opportune time for you to secure your home. Purchasing property during this period enables you to take advantage of specials and get equity in the property, through a Black Friday discount. The fact that it is a purchase you need to make in any case makes it even more attractive as a smart purchasing decision.
In Bryanston, Johannesburg, 73 on Grosvenor is offering R90,000 off selected units plus free SMEG appliances including a fridge. Ellipse in Waterfall is offering a 10% discount off the original price or a furniture package worth R180,000. Another development that is bringing Black Friday deals into the property market is The Rockefeller in Cape Town. This opulent development is offering potential buyers free furniture packages worth R120,000 to R130,000.
These offers are just some of the ways in which Black Friday can have a positive impact on consumers' buying behaviour as they are giving them added value on an investment as opposed to a consumption-based expense.
For aspiring first-time home buyers now and into the future, noting the property edition of Black Friday is something you should consider, as it could be a ladder towards starting a property portfolio or even owning a home.
What these property developers have done is commendable, especially in a country like SA where quality residential housing is in demand.
Make Black Friday a worthwhile long-term investment by purchasing property in a development offering you value for money.
For more information about property developments participating in Black Friday specials reach out to mortgagemarket.co.za.
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