How to get the home you really want

If you are in the market for a new home, there are a few ways to ensure that you make the right choice and get the home that you really want, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.

Preparation is key, so get ready

Before going out and looking for a property speak to your mortgage professional about your financial situation and credit history to determine your loan options. It’s important to know how much house you can afford based on your down payment and income. According to Goslett, a strong letter of pre-approval can really add to your bargaining power.

If you must sell your current home to afford a new one, consider putting it on the market before starting your search. You can often negotiate a better deal on a purchase if your property is under contract or you already have the cash in hand.

Once you have an idea of what you can afford, have a meeting with your real estate agent to discuss your needs and preferences. Also, establish the best method for your agent to send listings and communicate with you about available properties. “A real estate agent is a great resource that buyers can use to tap into what is happening within the local property market. An agent can provide a wealth of knowledge about an area that can help you make the right decision,” says Goslett.

Shop smart

Homes that are in pristine condition will cost you more than a property in need of attention, but if you do consider a fixer-upper, judge structural deficiencies more harshly than cosmetic flaws. “It can be costly to replace major components or to change the layout, but redecorating with flooring, fixtures or paint is relatively easy and sometimes offers instant equity potential,” says Goslett.

Another key aspect to consider is location. Even if the site seems perfect for you at present, think about whether it will appeal to a large pool of buyers if you should decide to sell in the future.

Next step – go for it

To write a winning offer without overpaying, look at the prices of comparable sales. “Again, a real estate agent will be a valuable resource in providing statistics and figures regarding recent sales in the area,” says Goslett. “Consider whether the property is in a high-demand area or if there is plenty of competition. Ask your agent to find out why it is for sale and if the seller seems motivated. If you accommodate the seller’s preferred closing dates or other terms, he or she may be more flexible with the price.”

Do your due diligence

Once you have come to terms with the seller, schedule a home inspection. Many sellers expect to address issues related to safety or building codes, and additional repairs or a credit may be negotiated. Make sure all of your questions or concerns regarding the home’s condition are answered through the inspection process.

“With the right preparation and research, you will be able to get the right home for you and your family,” Goslett concludes.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 19 Mar 2018
      If a landlord opts to use a managing agent for the rental of his or her property, the inspection process can be easier as the agent is not emotionally involved and will certainly have concluded an in-depth inspection report in the interests of all parties.
    • 19 Mar 2018
      We all wish we could have the cheat sheet for selling a property – a simple Ctrl+Shift+C code that will magically secure an offer on your home in an instant. Though it is not possible to provide you with this cheat code (sadly, reality does not come with such perks), it is possible to provide you with a list of the most common blunders some of your neighbours have committed in their efforts to sell their homes
    • 19 Mar 2018
      Although property technology is now widely accepted as an established trend, especially in the international real estate arena, the industry has been cautious to advance and smaller markets like South Africa are still hesitantly dipping their toes in the water.
    • 16 Mar 2018
      Strange as it may seem, there is a stock shortage looming now in the luxury sector of the Johannesburg property market, because astute buyers have for the past few months been hurrying to snap up high-end homes being offered at excellent prices.
    • 16 Mar 2018
      No one likes having to claim but having insurance for your household contents is vital, and at the start of a new financial year, homeowners either applying for new household insurance or revising their existing insurance should take a comprehensive inventory of their possessions and keep track of the total value.
    • 15 Mar 2018
      First-time buyers typically need to save for at least three years to afford the deposit on a home, and the VAT and fuel price increases announced in this year’s budget are going to make it even more difficult for them to reach that goal.
    • 15 Mar 2018
      Sea Point shows how developers use these organisations to advance their own interests
    • 15 Mar 2018
      As the rand strengthens against other major currencies, the prospect of investing in properties abroad is an increasingly appealing option for South African investors. Several factors, local and international, are sending a clear message: now is the time.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us