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π Top 30 Things You Should NOT Do When Buying a Property
Buying a property is one of the biggest financial decisions you'll ever make. Yet, so many buyers rush into it without understanding the risks involved. Whether it’s your first home or an investment property, there are certain mistakes that can cost you thousands — or even your dream home.
Here’s a guide to the top 30 things you should NOT do when buying a property in South Africa π
⚠️ 1. Don’t Skip Pre-Approval
Before house-hunting, get a bond pre-approval. It shows sellers you’re serious and helps you know what you can actually afford.
⚠️ 2. Don’t Buy Based on Emotion
Falling in love with a house is easy — but decisions based on emotion can blind you to red flags like poor structure, bad location, or overpriced value.
⚠️ 3. Don’t Forget About Transfer and Bond Costs
These can add 8–12% on top of the purchase price. Many first-time buyers overlook these and run into financial strain.
⚠️ 4. Don’t Skip a Proper Home Inspection
Hire a qualified property inspector to check for damp, cracks, roof leaks, or electrical faults. Fixing these later is costly.
⚠️ 5. Don’t Assume the Agent Works for You
Remember — most estate agents represent the seller, not you. Always verify information independently.
⚠️ 6. Don’t Ignore the Neighbourhood
Visit the area at different times — day and night. Noise, crime, and traffic can drastically affect your living experience and resale value.
⚠️ 7. Don’t Stretch Beyond Your Budget
Buy comfortably within your means. A home loan repayment that eats your income will cause stress and limit lifestyle flexibility.
⚠️ 8. Don’t Forget to Check Rates and Levies
Municipal rates and levies (for complexes or estates) can vary widely. Make sure you know the monthly running costs.
⚠️ 9. Don’t Overlook the Title Deed and Zoning
Always ensure there are no restrictions, servitudes, or land claims that could affect your property rights.
⚠️ 10. Don’t Ignore Future Development Plans
Check the municipality’s spatial development plan. A quiet view today might become a busy highway tomorrow.
⚠️ 11. Don’t Buy Without Comparing Prices
Look at similar properties in the area. Use sites like Property24, Private Property, and MyProperty to compare prices before making an offer.
⚠️ 12. Don’t Skip the Offer-to-Purchase Fine Print
Once signed, it’s a binding legal contract. Get a property lawyer to review it before signing.
⚠️ 13. Don’t Rely Only on Online Photos
Photos can hide flaws. Always visit in person and look carefully at finishes, smells (like damp), and lighting.
⚠️ 14. Don’t Forget to Budget for Maintenance
A home isn’t a once-off cost. Roofs, geysers, plumbing, and painting all require upkeep.
⚠️ 15. Don’t Assume the Bank Will Value It the Same
Banks send their own valuators. If they think the property is overpriced, your bond might not be approved for the full amount.
⚠️ 16. Don’t Skip Checking the Electrical and Plumbing Certificates
Legally, the seller must provide compliance certificates for electrical, water, gas, beetle, and fence systems. Verify their validity.
⚠️ 17. Don’t Buy Without Checking for Arrears
Unpaid municipal bills or levies can become your responsibility. Ensure the seller has cleared all accounts.
⚠️ 18. Don’t Underestimate Interest Rate Fluctuations
If you’re buying on a variable rate, rising interest rates can increase repayments significantly.
⚠️ 19. Don’t Forget About Security
In South Africa, safety matters. Consider the area’s crime stats and the cost of alarm systems or complex security.
⚠️ 20. Don’t Rush the Decision
Buying a home is not a race. Take time to explore all options and get second opinions.
⚠️ 21. Don’t Ignore Resale Value
Even if it’s your “forever home,” life changes. Choose a property that will hold or increase its market value.
⚠️ 22. Don’t Forget to Check School and Transport Access
If you have or plan to have children, good schools nearby can boost both convenience and property value.
⚠️ 23. Don’t Make Cash Offers Without Proof
If paying cash, ensure funds are readily available. Sellers may request proof of funds before accepting your offer.
⚠️ 24. Don’t Overlook Complex Rules
If buying in a sectional title or estate, read the Body Corporate or HOA rules. They might restrict pets, parking, or renovations.
⚠️ 25. Don’t Assume New Developments Are Perfect
Even new builds can have defects. Always do a snag list inspection before final handover.
⚠️ 26. Don’t Buy Without Checking Flood or Fire Risks
Some areas in South Africa (especially near rivers or mountains) face risks that can affect insurance premiums and safety.
⚠️ 27. Don’t Skip Insurance Planning
Get homeowner’s insurance as soon as the bond registers — not after.
⚠️ 28. Don’t Forget About Lifestyle Fit
A great house in the wrong area can make you miserable. Consider commute times, community, and amenities.
⚠️ 29. Don’t Be Afraid to Negotiate
Most sellers expect offers below asking price. Be polite but assertive — you could save thousands.
⚠️ 30. Don’t Buy Alone Without Advice
Consult a reputable estate agent, conveyancer, and financial advisor before signing anything. It’s worth every cent.
π‘ Lake Properties Pro-Tip:
When you find “the one,” pause — and run the numbers again. Ask yourself:
π “Can I still afford this property if interest rates go up by 2%?”
If the answer is no, it’s not the right deal. The smartest buyers are those who plan for the worst-case, not just the dream case.
If you know of anyone who is thinking of selling or buying property, please call me
Russell
Lake Properties
www.lakeproperties.co.za
info@lakeproperties.co.za
083 624 7129
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