Need-To-Knows When Buying A Home
Category Blog
Buying a new home can be both an exciting and daunting experience and it is very easy to get lost in the chaos of it all that we often forget the little things (and sometimes the big things too).
CEO of Greeff Christie's International Real Estate Mike Greeff says that: ''buying a home is not child's play and anyone who is considering making such a large investment needs know the basics before signing on the dotted line''. So, what are those basics? This piece aims to unpack the few essential must-knows for prospective homeowners - from checking for hidden defects during the showing to doing in-depth research on the area - this will cover it all.
- Location Is Key
You have probably heard agents repeat this line time and time again and that's because it's true. When buying a home, the area you decide to live in, is everything! It is important to figure out where you want to live before you start looking for a home because that will narrow down your search dramatically. Factor in things like schools you'd like your child/children to attend (think about future kids if you don't have any yet). Another important thing to consider is the commute to and from work and how easy/difficult it is to get to and from.
- Buy a home that fulfils all your needs
Your home is your sanctuary. It's the place where you going to spend most of your time, so you have to make sure that it ticks all your boxes. Do not choose a home if it doesn't meet all your requirements - you need to be 200% happy with it. Nothing is more frustrating than being in a space that doesn't fulfil your needs so determine what those needs are before you start house-hunting and do not compromise.
- Identify the flaws early on
As mentioned above, it is essential to identify and address the flaws of the property from the very beginning so that there are no surprises later on. There are a few things you need to look out for when viewing a property - some you can ''ignore'', others you cannot, as they will cause a bigger problem further down the line.
What to look out for:
- Damp: Water damage and rising damp are things you want to avoid as waterproofing can be an expensive exercise should it not be done correctly the first time. Look out for scaly or bubbly paint that covers damp ceilings or walls. You will also see what looks like black ''blotches'' at certain pressure points of the walls/ceilings, depending on the extent of the damage. If you are not sure of what you should be looking for, or if you would like to know what exactly needs to be done, get a qualified plumber and/or damp specialist to come along to provide expert advice on what the problem is and how it can be repaired. Make sure that it's repaired by the current owner before you buy the property.
- Structural condition including the roof: There are some cracks that are insignificant, it comes with the wear and tear of the home but keep an eye out for structural cracks - deep cracks that appear on both sides of a wall - this is a sign of potential foundation failure which can lead to serious structural problems. If you are interested in a certain property, consult with an architect or engineer to ensure that that the structure is in tip-top condition.
- Uneven or bouncy floors: Always bring a marble along to an open house and place it around different parts of the floor in each room. The older the property is, the more important it is to do the ''marble test'' so you can see how even (or uneven) the floors are. Sometimes a house will start to sink aggressively which creates a hump in the middle. These are costly to fix because it means ripping out the existing floor, correcting the support columns, finding a matching floor and if the sinking is too far gone, it may sometimes mean re-doing the foundations.
- Be prepared for hidden costs
More often than not, we think that once we've paid our deposits that's it, we're done and the next thing to pay are is bond repayments. Sounds accurate right? Wrong. Hidden costs can be anything from transfer and conveyancing fees to deposits for lights and water. These all need to be paid, usually before you're able to move in so they need to be taken into consideration. Get an idea of what you're in for before buying the property, and make sure you have enough cash to take care of all the additional costs.
Buying a home is exciting and it should be something you look forward, however, amidst the excitement, do not miss the basics. If you prefer, hire a reputable agent who will go through the process with you and guide you through what you need to look out for. Greeff says that a ''good agent will put in maximum effort, while keeping in mind your interests. What sets a good agent apart from a great agent is being able to communicate with you and ensuring that communication lines are kept open at all times'' - which is what you need when buying a home - that security is imperative.
Remember, your home is your castle. It's where you will raise your family, entertain your friends and make life-long memories. It doesn't have to be your ''forever home'' but it needs to be your happy place.
Author: Greeff
