Buying a home can be one of the most exciting and rewarding things you will do, but it can also be the most daunting. Be prepared and informed with Multinet Mortgages.

Starting out

The 3 most important factors to consider when buying a home are Location, Location, Location. This factor becomes crucial when its time to sell. If you buy a home at a reasonable price in a sought-after location, there’s a good chance that its value will increase over time. Choose the wrong location and you could find yourself watching in horror as the value of your property keeps dropping.

Important questions to ask yourself:

• What is the general popularity of the area and the condition of nearby properties?

• Are there schools and shops nearby?

• How close is the home to a highway or train station?

• Do you need to be close to work?

• Do the children go to school nearby or will they have to change schools?

• Do you want to live close to relatives or friends?

Now we know where the property should be… Ask yourself what kind of property you need. Assess your lifestyle and make of list of necessities and possible extras. How many bedrooms, how many bathrooms, garaging, size of stand for future expansion, security, swimming pool, staff accommodation, etc. A lot of features can be costly to add on at a later stage and these need to be taken into consideration when looking at your options.

The Search is on...

To help with your search for the perfect property, we have drawn up a Buyer’s Check-list that you can print out. Take this list with you to each and every property you view - it will help remind you of certain features at the end of the day. If possible, take some pictures with a digital camera. You may not get another opportunity to see these homes again before deciding which one to buy. Estate Agencies and local property papers and magazines will help you get a perspective on what is available and at what price. Your estate agent should be able to supply a CMA (Comparative Market Analysis) of your chosen suburb. This could prevent you from paying too much for a property. Beware: some homes are overpriced in today’s market and you need to know what is a reasonable amount or not for a particular property. After many days, maybe even weeks of searching, you come across a property that appeals to you more than the rest. Before rushing to make an offer, follow your check-list to make sure that you do not get left with a hole in your pocket from spending thousands of rands on unforeseen urgent repairs. Then, once you are absolutely certain that this is the home for you, go ahead and make an offer!