select
|

Let the ‘trendies’ show you the way

With interest rates low and economic prospects looking better, the number of first-time buyers is rising again. But most are still looking for “bargains” and in this respect they might want to take a tip from best-selling author and motivational speaker Harvey Mackay (Swim with the sharks without being eaten alive).
 
Quoted in the Chas Everitt International newsletter Property Signposts, he suggests searching in up-and-coming suburbs where creative people are settling. “The pattern in urban revival is always the same: first come the artists - writers, painters, art directors and photographers who are looking for cheap space, for each other and for that certain cachet that their eyes can detect before ours can.
 
“Then come the galleries and the restaurants, then the boutique advertising agencies and small architects who want to give off an aura of artiness. Then come the yuppies. Then come the tourists.
 
“And with every new wave, property values go up. Until eventually, the artists who started it all get priced out of the market and have to go somewhere else.”
 
Chas Everitt International CEO Berry Everitt says such areas are also, of course, the haunts of career renovators – “those who not only love turning sad old homes into cheerful, desirable properties, but who also know how to make decent profits doing so”.
 
And, he notes, their advice on what novice buyers should be looking for includes the following:
* Learn to spot the best prospects - homes with peeling paint, overgrown gardens and tatty roofs but sound structures;
* Look for a good, “liveable” floorplan;
* Also look out for homes with shabby or outdated décor where the only changes needed may be cosmetic;
* If remodelling is necessary, try to contain it within the existing exterior walls;
* Make an offer to purchase immediately you find a good renovation prospect, as they are not so plentiful as one might imagine.
 
Issued by Chas Everitt International


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 20 Jun 2018
      Buying or selling real estate isn’t as easy as it is portrayed sometimes, especially if there is a death of a party during the transaction which can make it awkward, tricky and inconvenient.
    • 20 Jun 2018
      With interest rates remaining at historic lows and banks continuing to compete for mortgage finance business, first-time buyers with funds at their disposal are currently well-placed to gain that initial foothold on the property ladder, particularly in the light of the slightly lower growth rates currently experienced in residential property values.
    • 20 Jun 2018
      The average size of bond granted in SA has grown 7,7% in the past 12 months to R934 000, according to BetterBond, the country’s biggest bond originator.
    • 19 Jun 2018
      In the current market, letting out a property can be a good option as rental demand remains strong, especially in the northern suburbs of Johannesburg. This is according to Chris Renecle, MD of Renprop. However he says that before homeowners let their property out, there are five key points they should make sure are covered before they market the property for rent and sign any lease agreements.
    • 19 Jun 2018
      The Capetonian dream is to live by the ocean with the iconic mountain making an appearance somewhere in the horizon. But, that dream comes with a hefty price tag that many simply cannot afford. But, should you venture some kilometres out of the city centre, entirely new realms of beachside bliss await you …
    • 19 Jun 2018
      Douw Steyn, one of the richest men in the country, recently allowed a rare glimpse into his Fourways Palazzo when it was featured on the SABC lifestyle programme Top Billing - and it is beyond your wildest dreams!
    • 18 Jun 2018
      Many home sellers are motivated to appoint estate agents because they know that the agency will carry the costs of advertising and marketing their property.
    • 18 Jun 2018
      When a property is sold when it has a tenant in occupation, the questions often raised are: “What happens to the tenant if the landlord sells the property?”, and what rights the tenant will have with regards to cancelling the lease or enforcing it, says Sunell Afrika, rentals manager for SAProperty.com.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK