rental property
Don’t fall into the trap of assuming that the Consumer Protection Act affords you blanket protection when it comes to buying property. In reality, this piece of legislation only comes into play if the seller regularly sells property or markets
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
Rental property markets fluctuate and as a property investor you need to be prepared for times when the rental market is saturated. In a saturated market, you may find it difficult to increase your rental in line with annual inflation
If you intend to keep the marital home after your divorce, make sure that it makes financial sense for you to do so. Sentimental attachment to the marital home can blind you from making decisions that are in your financial
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.
