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Practical Advice for First Time Homebuyers

Category Property Inflation

Buying your first home is an exciting prospect, but for many first-time buyers, it could seem like an unobtainable task. With mortgages, down payments and levies weighing heavy on your mind, this process can become overwhelming. 

However, buying a property does not have to be daunting. By taking the following tips into consideration you will make the home-buying go off without a hitch.

Let’s take a look at some practical advice for first-time homebuyers:

Make Sure to Save and Budget

When buying your first home, it is crucial that you know exactly how much you can afford and how much you are willing to spend. So start saving for that down payment sooner rather than later. Even if you are not planning to purchase property in the immediate future, you will help to put yourself in a better position to buy a home if you put an extra bit of money into a new home fund every month.

Take Your Time

When we get excited about something we can easily rush in, head first, without giving it too much thought. This is the problem with many first-time home buyers. It is of the utmost importance that you take your time and consider all the factors that are involved in this process. Research different neighbourhoods, look at various property types and ensure that you know exactly what you want and need.

Don’t Get Emotional

If you fall in love with a house or apartment, it is very common to overlook certain things that may not be up to scratch. When you get overly emotional about a property you may end up making a purchase you will regret down the line. This is why it is a good idea that you get a second or third pair of eyes to give the property a once over. Get an objective friend or someone whose opinion you trust and ask them to do a walkthrough. Since they are not financially involved, they are more likely to see the property for what it is.

Hunt for Insurance

This might seem obvious, but shopping around for the best home insurance provider and premium can really pay off. It is always a good idea to compare different policies and investigate which service provider is the right match for you. Don’t just consider the lowest priced policy either, because buying a home is one of the biggest financial investments you are ever likely to make, you want the highest quality insurance that will serve its purpose.

Choose the Right Professional

Buying a home, when you are uncertain of the market or any other property purchasing procedure will go a lot smoother if you work with a reputable real estate agent and agency. They will help you to navigate the intricacies of a property purchase and give you expert advice that will help you to find the right home for you. Although you should make sure to do your research and find an agency that has standing in the industry and will have your best interest at heart.

Currently on offer is a large two bedroom, ground floor apartment in Auckland Park listed at R935 000 – this abode is the ideal property for first-time buyers and young professionals as it is positioned in a sought-after complex opposite the University of Johannesburg. Two large bedrooms, a spacious dining room, and lounge, patio, gourmet kitchen and security gates make this the perfect buy. The owner of this apartment can also make use of the swimming pool, kiosk and laundry facility inside the complex, which enjoys 24-hour guarded patrols and a secure perimeter.

If you are thinking about or are ready to buy your first home in Gauteng, then RE/MAX Masters is the right agency for you. With years of unmatched experience in the property arena, our expert property professionals are dedicated to helping homebuyers find the home of their dreams. Contact us today for more information.

 

Author: RE/MAX Masters

Submitted 13 Apr 18 / Views 538