Buyers must research area before signing

Calvin Ndlovu

Many first-time buyers who are excited about owning property often underestimate the importance of a good location, until area or neighbourhood problems pressurise them to relocate.

Before signing on the dotted line, research the neighbourhood and make an informed decision based on your individual circumstances.

Here are a few tips on what to look out for when researching a neighbourhood:

Engage home owners: speak to various home owners in the area and find out what they love most about their neighbourhood and if there are any problems.

Houses for sale: check the rate at which houses are being sold as well as the reasons, if possible. If many people are eager to sell, there could be a cause for concern.

Property prices: ask for area reports from your agent and see how prices have risen over the past five to 10 years.

If prices aren’t growing as expected, try and establish why, while also taking economic factors into account.

Crime: area crime statistics give you a good indication of what to expect.

Schools and day care: many first-time property owners relocate to get closer to schools and day care for their kids.

Amenities: early morning traffic and travelling far to get to amenities can catch up with people in the long run. If you plan to buy outside towns think carefully.

Calvin Ndlovu is head of operations at FNB Home Loans