Buying or selling a house? Where to start...
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Whether you're a first-time buyer or an experienced property investor, every new sale and every move presents challenges you may or may not have faced before. We understand that buying a home and dealing with the logistics can be daunting. That said, we've gathered tips from our years of real estate experience and listed six crucial points you should always have covered.
1 - Working with a reputable property practitioner
First things first, you may think you've had enough experience in the real estate industry to go at it solo. Listing your house privately seems quick, easy and inexpensive, but while it may be tempting to avoid that commission fee, it presents more hassles than it's worth. Read more about the PPRA and why this is the case.
One of the most hair-raising experiences is navigating legal paperwork without the proper guidance. Beyond this, potential buyers, who work with professionals, will often be steered away from FSBO (For Sale By Owner) homes.
A professional property practitioner will always have relative market and area knowledge on hand and will have your back through the transfer process.
2 - A sole mandate is the best option
Also referred to as an exclusive mandate, sole mandates offer exclusive authorisation to one property practitioner to sell your home. The advantage of this approach is the onus of making their commission relies on them completing the sale. Property practitioners offered sole mandates are often more motivated to list and sell your home and will grant you a more personalised experience.
Beyond this, property practitioners prioritise their sole mandates and will often work out better prices for their clients, buying or selling, and spend more energy, resources, and time to ensure a sale.
3 - Research the suburb
The garden is immaculate, and the home is simply stunning, but the community centre goes wild every Friday at 11 pm. There's perhaps nothing worse than finding out that your neighbourhood isn't quite what you expected.
You must get a proper feel for the area you're moving into during the day and the evening. Join the local community page and get the low-down on security, noise levels, pets, unruly neighbours, and service delivery. Even travel at peak times in and out of the suburb to get a feeling for travel times to work or schools.
4 - Security and energy saving
While security has always been the number one factor for South Africans, these days, a combination of good security and stored energy like solar and inverters is a significant plus. Homes that offer these amenities are at the top of the listing deck.
Solar panels are an expensive upfront investment. Coupled with the cost of inverters and battery systems, a complete installation usually travels within the six-figure range. Finding a well-priced home with the added benefit of generating electricity is a must-have in our current climate.
Read our previous article on Escaping the Eskom energy crisis for more information.
In terms of security, a smart security system that allows homeowners total control over their homes through a device offers value in terms of investment and piece of mind.
5 - What to do during a walkthrough
After arriving at your viewing, don't be afraid to be as thorough as possible. If you're walking through the bedrooms, you have every right to check the cupboards, open and close windows, and lift loose carpeting. While exploring bathrooms, flush the toilets, check the light switches and look under the sinks.
This could be your next home; as such, you'll be inheriting every unforeseen problem. You won't catch everything, but you'll know what you may get into. Adding to that, if you're not quite sure, then have a professional house inspection carried out.
6 - Use online comparative services
Find out what your budget can cover quickly and easily using comparative home loan tools such as Ooba. These comparative tools also allow you to select the best rate, giving you better odds of getting loan approval while helping you establish your affordability range.
If you want to buy or sell your home, contact one of our Real Estate Property Practitioners by following the link: https://www.homesofdistinction.co.za/agents/
Homes of Distinction CC holds a Fidelity Fund Certificate issued by the Property Practitioners Regulatory Authority.
Author: Bryce Anderson
