Cru­cial home buy­ing ques­tions

Lesotho Times - - Property -

MORE of­ten than not, first-time home buy­ers lose out when they don’t ask the right ques­tions and only find out the con­se­quences of not do­ing re­search too far down the line, and of­ten too late.

Whether buy­ing your dream home or a fancy new set of wheels, do­ing your homework up­front and know­ing what ques­tions to ask is es­sen­tial in pre­vent­ing any sur­prises down the line.

Na­tional bond orig­i­na­tor, ooba, is wellplaced to of­fer ex­pert ad­vice on how to take the headache out of home buy­ing.

ooba lists th­ese cru­cial ques­tions to help home buy­ers get the right an­swers when buy­ing a home:

1. Asses your Af­ford­abil­ity the ques­tion of af­ford­abil­ity is an ob­vi­ous one, and very im­por­tant to bear in mind from the be­gin­ning.

in ad­di­tion to think­ing about the de­posit, you need to also con­sider the monthly bond re­pay­ments and whether you will be able to af­ford to keep your prop­erty in a good con­di­tion. A good place to start is to get pre-qual­i­fied; this will give you an idea of what you can af­ford.

Be­fore sign­ing off on the prop­erty, do a spot check to en­sure that, should you need to do ren­o­va­tions, this has at least been ac­counted for in the ask­ing price. 2. En­sure that the lo­ca­tion suits your life­style Lo­ca­tion is cru­cial in en­sur­ing that your home fits the life­style you lead. It is im­por­tant to con­sider the fol­low­ing fac­tors when think­ing about the area you are buy­ing in: what is the dis­tance from home to work, is the prop­erty in a de­vel­op­ing area where you see the re­sale value in­creas­ing at a con­sid­er­able pace, and lastly, is the neigh­bour­hood safe?

3. Gather a his­tory of the prop­erty and area

do some re­search on the prop­erty and area; find out how long the prop­erty has been on the mar­ket and how long the cur­rent own­ers have been living there.

if it’s pos­si­ble, speak di­rectly to the own­ers to find out why they are mov­ing, just to make sure there is noth­ing wrong with the prop­erty.

Also ap­proach neigh­bours to get an idea of what their ex­pe­ri­ence of the area has been. All this in­for­ma­tion should an­swer the ques­tion: is the prop­erty a wor­thy in­vest­ment?

— Prop­erty24.

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