Buying A Property
Buying a property is one of your biggest financial commitments. Most people look at it as a long life investment. So why not take time and do it right? Buying a property might be time consuming, expensive and frustrating but in today’s property market you can’t afford to make the wrong decision. When you are looking to purchase property, here are some of the issues you should take into consideration:
- Equip yourself with the right information.
- Make a list of all the features you find essential and cannot do without.
- Location in very important, so make sure you know enough about the area. If possible, take a drive through the neighbourhood and have a look at the surrounding properties and note their condition.
- Check the price of the property by comparing to others in the area.
- Make notes about each property that you are interested in and sit calmly and compare them before you make your final decision.
- Work out what you can afford. Buying a property can cost more than what you think.
- Be aware of running costs such as insurance, rates, water and electricity etc.
- When you have found a property you like view it again and again, making sure it is what you want and that it is in the right condition. Don’t be sidetracked by the décor etc.
- Don’t let emotions get in the way.
- Think about the future and keep home improvements and the resell of the property in mind.
- Why do the owners want to sell?
- Are there any Sub divisions in place?
- Do you have a copy of the Title Deed?
- What are your Rates/Levies?
- Are there servitudes over the property?
- Does the property have Business rights?
- What is the occupation date?
- Are there any latent defects (Damp or roof leaks?)
