estate agent
Depending on the property market at the time, a property can take anywhere from two to nine months to sell, and this can adversely impact your financial position if you need quick access to capital. Having all your capital tied
Ensure that you view the property multiple times before putting in an offer. Be intentional about looking past the aesthetics to identify potential defects and faults, especially those that could be critical. Specifically, look out for damp or water seepage,
Some holiday resorts and/or complexes are very strict in terms of maintenance, upkeep and adhering to body corporate/resort specifications, so understand what you are signing up for before buying. Keep in mind that seaside homes in particular may require more
Buying property is expensive and, as a rule of thumb, if registering a bond to buy the property, it is wise to budget for transfer and associated costs of between 8% and 10% of the purchase price of the property.
Before putting in your offer to purchase, be sure to find out what you can expect to pay in terms of rates, taxes and other municipal services. Property rates and taxes are calculated with reference to the municipal valuation of
If you’re planning to do renovations to your new home, you may need to budget for the services of a draughtsman or architect if your renovations require plans to be drawn up. Other costs to factor in include security upgrades
Unlike trading shares, the process of buying or selling is generally quite lengthy and this can cause liquidity problems especially if you need to access your money quickly.
Municipal rates and taxes are calculated based on the market value of your home, which means that larger homes with a higher market value will have higher municipal rates. Speak to the seller of the property about what they are
