Ready to Buy your First Home?
Category Advice
Ready to Buy Your First Home?
Here's what to consider when you start the search.
Do your homework and decide if this is the right time to enter into the property market. Prepare yourself by doing a credit check and applying for a pre-qualified home loan. From here you will know what your monthly instalments will be and you can base your monthly budget according to these numbers
Once you have a list of preferred neighbourhoods for your search, it's time to decide the type of homes that you wish to view.
There are thousands of homes on the market, so narrowing down your choices will help you simplify the search.
First, look at the features of a home you want and then the type of home you want.
Features are aspects of a home you can't live without, such as the bedroom count, security, off street parking and outdoor areas.
Consider your needs now, and your needs in 7 to 10 years time. If your requirements might change in that time span, you should make sure your home will still be able to accommodate your needs.
Homes come in all shapes and sizes. You may consider an Apartment,Townhouse or Home in a Development / Security Estate, a home located in a rural area located on a smallholding or farm. You may even be in the market for a Retirement option. Here is an overview of what you can expect to find in the market.
There are various types of homes to consider buying, when you start out finding your perfect property.
Freehold:
The owner of a freehold property has full ownership of the property and full responsibility for it. This means that the owner can rent, sell, paint and alter as they see fit (within certain constraints by the municipality). Types of properties that fall under freehold are free standing homes and homes in security villages.
Sectional title:
When you buy property in a sectional title complex you are buying a unit or section of a common property. This common property is shared by other unit owners. Types of properties that fall under sectional title are flats, units in complexes and cluster homes. Changes to your property in a sectional title scheme have to fit within the guidelines and standards set up by the body corporate.
99 Year lease:
A person who enters into a 99-year lease is not purchasing the property but securing the property for a long period of time. Usually, the government owns this type of land, and this land is usually found in historic or protected areas.
Shared block:
A shared block property is owned and registered by a company and applies mainly to apartments or small blocks of flats. Buyers of shared block property, purchase shares in the company as a form of property ownership.
Congratulations you're almost there!
Start searching for your perfect home, using our Team of experienced Property Practitioners.
They will guide & assist you in finding the ideal home, in the perfect neighbourhood. Our Team are there to assist & guide you through the Offer to Purchase, Bond Applications, Registration & Legal processes - and they'll be there to WELCOME you to your new home on the day they hand over your keys!
Contact us & we'll be with you every step of the way.
Author: Marketing
