Port ElizabethWhat to look for when buying your first home – Port Elizabeth https://showme.co.za/port-elizabeth Port Elizabeth, Nelson Mandela Bay, South Africa - for all your local and tourism information; from accommodation to events, entertainment, attractions and news in Algoa Bay, Eastern Cape. | T Feed Mon, 25 Mar 2024 13:18:30 +0000 hourly 1 https://showme.co.za/port-elizabeth/?p=41901 What to look for when buying your first home https://showme.co.za/port-elizabeth/property/what-to-look-for-when-buying-your-first-home/ Wed, 15 Apr 2020 12:55:00 +0000 With years of experience in and knowledge of the dynamic real estate industry, these guys are able to offer expert advice ...]]>

Our slogan ‘Let us guide you home’ has many interpretations, not least of which is the fact that we pride ourselves in going the extra mile for our valued clients, and this includes guiding them on their home-buying journey.

With years of experience in and knowledge of the dynamic real estate industry, we are able to offer expert advice when it comes to buying a home.

The big challenge comes when we deal with first-time home buyers with big expectations of what they can get for their hard earned bucks. Truthfully, according to electrician perth reality can often be disappointing if they are not practiced in the art of ‘seeing the potential’ in a property.

Often, what might look like a hot mess actually holds huge promise of becoming your dream home. For great deals and coupons on your home improvement project visit Raise.

Buying your first home can be exciting and stressful at the same time. The joy and anticipation of owning your own home can sometimes be overshadowed by the many concerns you may have.
That’s where we come in!

Here are some top tips for you to run through with your property practitioner when you are buying your first home:

Financial & Legal:
  • Save up for a deposit – the more you put in the less time needed to pay off what’s still owing. The banks also give a better interest rate if you put a nice size deposit down.
  • Know what you can afford and get pre-qualified for a home loan – banks will only give you what can afford – so avoid disappointment from the get go and shop with confidence within your limits. If you have been pre-qualified, your chances of getting the property you want is so much better.
  • Shop around for your home – The best place to start is on the internet. Thereafter view properties on show on Sundays, learn the different suburbs and what houses sell for in the area. Call a property practitioner to assist you once you have decided on the area. Being informed about what’s out there prevents you from buying in haste and allows you to go for what you really want.
  • Shop around for a bond – banks are in constant competition with each other, so make sure you’re getting the best deal you can. Ask your property practitioner to assist you. They are usually very well connected with bond originators who could do the shopping around on your behalf.
  • Understand all the costs, and be aware of the hidden costs. Bond registration costs, transfer duty and the conveyancer’s transfer costs can come as a nasty surprise if you’re not prepared for them. Ask your property practitioner for a quote from the conveyancer.
  • Know the difference between occupation and possession – the house does not belong to you until the transfer is registered at the Deeds Office, so if you take occupation before the property is registered in your name you will need permission from the Seller before you can make any alterations. Don’t just go ahead and spend money on alterations before this happens, you could lose it all if the transfer doesn’t go through.
Structural:
  • Look past all the household contents such as furniture, curtains, wall hangings, etc. and make sure the walls or plaster do not show signs of damp or structural cracks.
  • Look for signs of a sagging roof or fittings that are falling off or missing completely.
    Check the water flow in the showers, baths and basins, and flush the toilets to see if there are any problems there.
  • Check for missing roof tiles as this could cause water problems if they haven’t already occurred.
  • Check if the pool looks sound and ask if there are any leaks, if the pump and filter are working properly and look out for uneven paving that may need to be re-laid.
  • If the house is plastered on the outside, look to see if this needs any maintenance or possibly a complete paint job.
  • The owners will have to get certificates to confirm that all installations – electrical, plumbing or gas – comply with the legislated requirements as detailed in the Occupational Health and Safety Act.
Security:
  • Is there an existing security system you can take over, and what are the costs involved?
  • Are there additional security measures in place on the property – like burglar bars, external security lights, remote controlled gates and garage doors and are they in good working order.
  • How’s the neighbourhood in terms of security? Is there an existing neighbourhood watch? Does it experience much foot traffic through the area that may be cause for concern?
Location, Location, Location:

The basic rule is ‘buy the worst house in the best area’ – but only if you have the budget and the inclination to do improvements on the property. Check on the following as it will have an effect on the re-sale value of your property.

Is the house conveniently situated near:

  • Shops
  • Good schools
  • Medical facilities
  • Places of worship appropriate for you

Find out if the Seller has any problems with their neighbours or the area in general in terms of recent or pending developments that may affect the value of your new home.

Extra Costs and Considerations:

Running a household brings with it certain additional costs and considerations that you must be aware of before you make an offer.

  • Ask your property practitioner to confirm, levies, rates, taxes and insurance.
  • Business rights – can you run your business from the house and if so what are the restrictions or implications (e.g. having clients visit you).
  • Find out what the WiFi/Internet access is like in the area if this is an important factor in your life.

There are actually many different facets to buying a new home, and we don’t want these to be overwhelming for you, especially if it is your first one.

Forewarned is forearmed we say! It’s always best to chat to friends and family who have done this a few times before and will have sound advice for you as you navigate your way through the whole experience.

Property Practitioners at Affinity Real Estate are ready to make this experience as easy and exciting as it should be for you!

Visit their website for more information …

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