Don’t get caught in the moment
Buying a home is a very exciting and extremely emotional experience,especially if you a first time home owner.We often make the mistake of rushing into decisions without considering the most important factors of purchasing a home beside location. Waiting something so badly can at times distort reason and reality, one needs to take their time with the decision.
Will you be able to afford it ?
The South African property market is a very unpredictable market for one to just make a commitment such as taking out a bond to purchase a home.The interested rate fluctuates so rapidly due to the inconsistency of our currency.If you planning to have children or already have kids, you need to consider expenses that may arise in the future such Schools fees and University tuition.
Factor in Housing Taxes and Rates
Sometime these can inflate the price of your home considerably, check out the value of property in South Africa on-line.
Plan for renovations?
Though it might not look like it at the moment , your new House will need renovations in the future.I am not saying purchase a dilapidated house and then renovate, no, simply make sure that you look at how much renovations might be needed in the future,if you plan to build on the house a bit more.
Do some research on the Neighbourhood.
Most of the time the bad guy who murdered an entire family in his basement is the weird , creepy neighbour.He was always such a quit man who kept to himself, you would hear the crowd utter as they hover around the crime scene in their underpants.
I am not saying snoop around and go CSI on your future golf buddy but ask your neighbours about the area,it’s better than moving next to someone you are going to hate for the rest of your life.
Inspect your home?
Do a thorough inspection of your future home, from wall to ceiling.This way you can check for any “cracks”.
Ask your agent for records.
Sometimes having history on previous improvement and renovations will help you with any future problems.It’s like buying a second-hand car with a service history book.
Get your house Evaluated by a professional.
Find out what the house will potentially be worth in the future, a house is an investment and you have to make sure that it’s measurable.