What price range can you afford?
It is always best to know what bond amount you qualify for and if the repayments are affordable. The best way to do so is by contacting a bond originator who can assist you in the qualifying process. Alternatively, there are affordability calculators online if you would like to get a quick overview. South Africa’s leading home loan comparison service offers a range of home loan calculators to help you establish what you can afford.
Make sure the price is right!
Do your research to get an idea of the average house price in your desired area. Ask questions about how long the property has been on the market, this will give you an idea of how negotiable the seller is and increase chances of your offer being accepted.
Inspect the property
Take a real good look at the property you are interested in and make sure you know what you are buying. Look for little defects that might have been disguised by a coat of paint. Look beyond the clutter, colours, cupboards and carpets and be open to a home’s hidden potential. Ensure that you know what is or is not included in the sale of the property. If you are really interested in a property insist on a report following a professional home inspection which should highlight any physical defects which would include leaks, faulty geysers or noteworthy cracks. A good inspection report will also establish whether a property is structurally sound.
Work with a reputable estate agent
The right estate agent will help you find the right house in the right area at the right price for you, and be there every step of the way until the registration of your new home is yours! Know what Costs you will liable for The fees related to transferring the property from the seller’s to buyer’s name as well as the cost of registering the bond, are the responsibility of the buyer. These will need to be paid prior to the transfer of the property into your name.