Top 5 Questions to Ask When Buying Property
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As a property buyer, there are five vital questions to ask when buying property to adequately prepare yourself for the purchase.
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Top 5 Questions to Ask When Buying Property in South Africa
There are specific essential questions to ask when buying property in South Africa to avoid wasting your time and money.
Five Questions to Ask When Buying Property
From affordability to thinking long-term, here are what you need to consider before signing on that dotted line.
1. Can I Comfortably Afford This Property?
Can you afford agent fees, legal fees, transfer fees, monthly rates and taxes, and the general upkeep and maintenance of the property? It's vital to do the maths accurately, planning for at least 12 months.
2. What Exactly Do I Want in a Property?
Questions you should ask yourself may include:
How many bedrooms, bathrooms, garages etc., do I want?
What should the size of these rooms be?
Do I want a single storey home?
Should the garage be connected to the property?
Having clarity on what you want will enable property advisors to aid you more effectively in your search.
3. What Are My Top 3 Locations?
Location matters. Consider all the nearby amenities and whether this caters to your lifestyle or not. Identifying a second and third choice of location is a wise move, as this will lower your chances of disappointment. Also, think long-term! The life stage you're in now might not be the one you're in five years from now.
4. Has the Property Been Renovated?
Any significant structural changes to the property will require maintenance in the future. Therefore, being aware of renovations is vital to financial planning.
Did I Request a Disclosure Document from the Seller?
A disclosure document states any flaws that the seller of the property may be aware of that could negatively impact the property's value. This will give you a full picture of what to expect in terms of maintenance and fixes you might need to make. Also, always check for how long the property has been on the market to spot any red flags.
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Author: Tyson Properties
