Helpful Hints and Tips when buying property
Do a building and pest inspection. Foundations, structures and roofs are important. Get professional help if needed. Age of property can result in large financial expenses.
Location is probably the most important consideration when buying property. Take a good look at the area, neighbourhood and aspects such as safety, schools, shopping centres and more.
List your most important factors when considering to buy property, make a comparison and evaluation of all options on what you really need and what you can afford.
Owing property gives you financial security, flexibility and stability, but ownership comes with a great deal of responsibility. Maintenance, insurance, rates and taxes, bond repayments, are only a few thereof.
Ensure that you know and understand the financial implications involved when buying property. Bond costs,( if applicable), transfer fees, valuation fees, registration fees and transfer duty can have a considerable and sometimes large financial impact on your financing.
Obtain information and professional help from estate agents and internet sources to assist you on decision making.
Get it all in writing. All promises and discussions are not worth much if not in writing. Remember – if it is not in writing, it doesn’t exist.
House hunting – Where do I start?
First things first – Ask yourself why you want to buy a home -
- to stop paying rent?
- to start building equity?
- to have a place of your own?
- to move up to a bigger home?
Next list what kind of home you would like and where you like it to be. Be specific. Separate the “must have’s” from the “want to have’s”. Rate both lists on a scale from 5 (high) to 1.
Think of yourself as zeroing in on a target, going from the general to the specific. Consider:
- area ( suburban,);
- community (north, south, east or west side);
- neighbourhood (older, and settled or sparking new; recreational facilities and other community services; transportation; day care; stores; entertainment ).
- How long are you willing to commute to work?
- Think about home styles (1-story, 2 story, townhouse, ect).
- How much space do you need, and how much will you need in the foreseeable future (number of bedrooms, baths, kind of kitchen and total rooms); size and kind of property.
- Do you want a new home, or an older one to fix up?
- Is the community a good area for resale? Someday you or your family will want to sell.
- Consider how long you expect to live in this particular home. Keep going with whatever you want to add.
Knowing exactly what you think you want makes house hunting and later decisions easier when you get into the nitty-gritty aspects of buying.
What must I do when I want to sell my house?
Preparing your home for selling
Create a warm and homely atmosphere for prospective buyers. There is no need to redecorate your home extensively before putting it on the market, yet some attention to the following will pay dividends:
Inside your home
Since you will be marketing your home as well, take advantage of the incentive to make your home look more spacious by discarding unused items.
- Check cupboards for neatly arranged clothes, make sure as few items as possible are stored on overhead shelves.
- Leave kitchen tops uncluttered. Arrange the inside of the kitchen cupboards in an orderly manner.
- Go through the attic, storeroom and garage and organise them so that they appear as spacious, neat and clean as possible.
- Check all walls for smudges, chips in paint and torn or loose wallpaper. If the walls are in poor shape, consider painting – be sure to use only neutral colours.
- Wash curtains, or dry clean if needed.
- Shampoo carpets, wash floors. If your carpets have seen better days, consider replacing them.
- Tighten loose doorknobs, cupboard doors, towel railings, light switch covers. Fix sticking windows, squeaking doors. Repair and clean waterproofing around baths and hand basins. Fix leaky taps and remove water stains.
Outside your home
The appearance of the house from the street is very important – first impressions count. Maximize your sales potential by ensuring this appearance is appealing.
- Keep your lawn trimmed and edged. Remove all garden refuse.
- Put away lawn equipment. Arrange outdoor items, patio furniture, etc.
- Repair broken perimeter walls and paint.
- Clean out gutters – touch up with paint, realign if crooked.
- Fix broken windows and clean.
- Check roof tiles that need replacing.
- Make sure the outside lights and intercom work.
(Also see our information bar on “Financial Implication”)