The Property Search

How to find the right house in the right area

The first step to finding the right home is determining how much you’re willing to pay for the property. This is often closely related to the size of home loan you’ll qualify for. Luckly getting a pre-proved home loan certificate is not a very long process. And once you’ve secured your certificate you can begin your property search with the confidence of knowing that you’ve already been approved.

If you’re interested in getting a pre-approval certificate – visit IBO HOME LOANS online now

Finding the right home
You’ll find that houses and flats will always be for sale in your area, therefore a good place to begin your property search is by paging through your local newspaper. You’ll be able to gauge what’s on offer in your price range.

The Internet is quickly becoming an excellent resource for finding the perfect home. Private Sellers and Estate agents advertise their homes on the internet to ensure they’re reaching a wide audience.

Websites such as MyHome.co.za and PrivateProperty.co.za have a huge selection of residential and other properties for sale in South Africa and Namibia.

The advantage of using these sites to hunt for the ideal home is that you can often find a really good price on homes that are being sold privately. Private sellers are often more willing to lower their prices because they’re already saving on estate agent commissions.

Important Factors to consider
Finding the perfect home is not a simple as pointing and clicking on the best looking home – if you’re shopping online. Before you buy – consider these important factors:

1) Location:
The location of a property is probably the single most important factor one should consider. Firstly, location determines price. You’ll find that an amount that would get you a three-bedroom home in one area will get you a bachelor pad in another.

The location of your property will determine its price growth. “Hot areas” are areas where property prices are increasing fast, these areas often are not the elite neighborhoods. Keep an eye out for areas that have undergone major restorations recently.

And the location of your property is key when considering its proximity to schools, public transport and your office.

2) Investment Potential:
You house is probably the biggest investment you’ll ever have to make and therefore its important to consider it as not only a home but as an investment too.

After a few years you want to see that your property has increased in value. The rate of that increase the dependent on a number of factors, some are within your power of influence while others are not.

Like any investment – if you hope to enjoy a healthy rate of growth you’ll need to invest your time, effort and money into it.

Also, you should keep a close eye on the local home loan market. You should also be aware of ways to lower your bond repayments and handle your mortgage like you would any financial investment – without too much emotion. Banking with your favorite bank may offer you some comfort, but if you’re able to get a better interest rate at another bank grab the opportunity, because even a half-a-percent difference in your mortgage rate will result in a huge saving over the period of your bond.