So you are staying, how about actively choosing to contribute positively to a better South Africa and be a part of the solution. One way to do that is to commit and invest in property. Now is a great time to buy property anyway – we are in a buyer’ market! Here are a few reasons why it is still a good idea to own property:
- We are expecting an upturn and growth in the property market after quite a few years of stagnation.
- You can customise/upgrade your own property to suit your lifestyle and family situation.
- Capital growth in property = building your own wealth or equity.
- If you rent, you have annual rental increases vs reasonably stable bond repayment over 20+ years (only subject to interest rate changes – it could go down!)
- Build your own equity / forced saving.
- Family stability not bound by a lease or policed by a Landlord.
- Earn Extra Rental income (from a flatlet or if this is a rental property)
Take the following into account when deciding to buy a property:
- Free standing, Secure Estate or Sectional Title – what are my needs vs additional costs?
- Security features – this is Jo’burg!
- Maintenance requirements – does the house I want to buy have a long list of items that need repairing now and what about in future? Certain styles and features have more on-going maintenance requirements than others. A lot of maintenance now could mean that I can negotiate with the seller.
- What schools and amenities (shopping centres, restaurants, etc) are within easy reach?
- Does this suburb mean a long or short commute to work? Is that important to me?
- Take the Costs of Buying into account, such as one-off items like Transfer duties, bond registration cost and on-going costs such as monthly levies, rates & taxes, maintenance, security, etc
- Renovation/ upgrade potential – can I improve this home at some stage? Is it physically possible or will I be limited because of potentially over capitalising?
So, you may now have more questions than answers, maybe you even want to find a place to rent first.
So don’t delay, let us help you right away! Our experienced and professional agents a (Rental or Sale) are standing by to help, provide advice and answer your questions.