GARDEN ROUTE NEWS - Many first-time buyers who are excited about owning property often underestimate the importance of a good location, until area or neighbourhood challenges pressurise them to relocate.
Before signing on the dotted line, take time to research the neighbourhood and make an informed decision based on your individual circumstances.
Look out
What to look out for when researching a neighbourhood:
- •Engage homeowners - speak to various homeowners in the area and find out what they love most about their neighbourhood and challenges being faced.
- •Houses for sale - check the rate at which houses are being sold as well as the reasons, if possible.
More often, if many people are eager to sell, there could be a cause for concern.
Similarly, if only few properties are sold, there’s a likelihood it’s a good neighbourhood.
- Property prices - ask for area reports from your agent and check how prices have grown over the past five to 10 years.
If prices are not rising as expected, try to establish the rationale, while also taking economic factors into account.
- Crime - although no area is 100% crime free, some areas are of more concern than others. Area crime statistics can give you a good indication of what to expect.
- Schools and Day Care - many first time property owners relocate to get closer to schools and day care for their kids.
- Amenities - early morning traffic and travelling far to get to amenities can catch up with people in the long run. If you plan to buy outside towns think carefully about your decision.
- Use technology - innovative online tools allow customers to access reports and get information on an area, price trends, points of interest, number of houses sold as well as area lifestyle characteristics.
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