Buy a home you will ‘love’

When you are buying a property, it’s important to find a home that not only offers good value for money and a good location, but is also a place that you will love living in.

If you’re ‘shopping’ for a new home make a list of everything you want and don’t want in a home – and work out what it will really cost you!

There needs to be a balance, says Harcourts Africa CEO Richard Gray. “These days we find that many homebuyers are more focused on the investment potential of a property than on whether it meets the needs of their family.”

He says that no matter how great the growth potential, if your home does not appeal to you and feel comfortable, it is very unlikely you will live there long enough for that growth to materialise and give you a good return on your investment.

Consequently, Gray suggests buyers do some careful thinking about what sort of home and lifestyle they want before they venture into the market.

In addition to their budget, he says, buyers should think about what type of area they would prefer and also whether they would like to be close to certain schools, shops, workplaces and public transport.

The type of home is important and it’s a good idea to work out all the costs of running and maintaining this kind of property. For example, what are the rates or levies, utility costs and what will it cost to run and maintain? Also consider the pros and cons of buying a sectional title versus a freehold property.

Homebuyers should also consider what size home they will need, says gray, and whether they want a new home or are content to do some work on an older one that perhaps offers more space or a garden, especially if this would give them the opportunity to get into a better area in terms of growth prospects.

“And they should list features on which they are prepared to compromise, such as a separate dining room, for example, and those which they feel are essential in terms of their lifestyle, such as a top quality kitchen, for example, or a great entertainment area.”

In fact, says Gray, potential buyers should try to be as precise and economical as possible about what they are looking for, and keep their list handy when they ask estate agents to show them suitable properties, search online property listings or visit any homes on show.

“Although every home purchase is a compromise to some degree, the more clearly you can envisage the home you want, and the more details you can supply to those helping you in your search, the more likely you are to quickly find one that is the closest possible match to both your personal and your financial requirements,” says Gray.