If you are a first-time home buyer or just looking to upgrade, the process of buying property can be daunting. It is a huge investment and due diligence on your part can go a long way.
Gumtree has collated valuable tips from real estate agents and homeowners on what to look out for before buying property:
- The first essential factor to consider is the location. Determine which school your children will be attending and your commute time to work.
- Buying property is a long-term investment. So, if you have chosen a home, we recommend living there for five years at least.
- As it is popularly said ‘the first impression is the last impression’. Real estate agents are experts at what they do and are able to disguise little defects during the viewing process. As a buyer, it is important to stay alert and look out for any issues such as dampness, structural cracks, wear and tear, uneven floors and the like.
- Avoid looking at homes that are beyond your budget. There is nothing worse than finding a dream home and not being able to afford it. This can lead to frustration and colour your opinion on any subsequent homes you see. On the other hand, buying a home beyond your means can mean a huge financial crunch for years.
- Once you have zeroed down on a property, do your research and find out how long it has been on the market, what other properties in the area are priced at, how the complex is etc.
- Finally, begin saving up for a deposit even before you have found your dream home. Remember, the higher the deposit, the lower your monthly installments.
Now that you’ve got the knowledge, it’s time to shop! Head to gumtree.co.za or your Gumtree app (click for Apple & Android) and don’t forget to use your location settings to find local property information close to home.