Share

6 things to consider when buying your first property

accreditation
Image: Property24

You've found a (dream) house. You've saved a deposit. You’re finally ready to make the big jump.

Here's some advice on what you should look out for before signing on the dotted line:

Patent defects

These are flaws that will be visible, like wall cracks, sagging gutters, broken windows and missing tiles. Whatever you do, don’t be fooled by the décor. Before negotiating any agreements be sure to acquaint yourself well with the property as there's no way to claim you 'didn’t see' these problems.

Cracks in the walls

If you spot large cracks, you may want to get the experts in to analyse it, as these could be structural. This could impair the integrity of the wall structure and may be a sign of foundation failure or severe structural problems. Repairing these cracks could be very costly, so make sure they aren't there when house-hunting.

Water pressure and geyser

Turn on taps to check water pressure and ask the agent to find out how old the geyser is. If it's an old geyser, ensure that it is covered by your insurance policy. Also be sure to check the toilet for any leaks after having flushed it.

Neighbours

Establishing everything about your prospective neighbourhood is vitally important, especially your soon-to-be immediate neighbours. You’ll know in a matter of minutes whether or not the neighbourhood is for you. If you’re looking for a quiet home and the neighbours have small children or teens frequently visiting then you may want to reconsider. From very early on establish whether or not small businesses or crèches are being run within the neighbourhood, as this may also lead to future disturbances.

Approved plans for alterations

Consult the local municipality as to whether or not the building on the property is approved and falls within building regulations. Once you have bought the property and you later discover that certain illegal alterations were carried out, you would be liable to rectify these. This would include application costs for approval of plans or it could even result in the illegal structure being demolished at your expense.

Location

A very important fact to remember is that property should be an investment, which will continue to grow in value. This makes location extremely important. Here are a few things to keep in mind:

  • Look at the surrounding areas. What sort of infrastructure is there? How good or bad is the security?
  • Will you be comfortable commuting?
  • Even if you don’t have children, buy in a good school district. If you ever decide to sell, your property value would increase, as school districts are top priority for homebuyers.
  • A well-located property gives you better chances of securing home loan finance.
  • More money advice? Go here.

    Follow Women24 on Twitter and like us on Facebook.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE