PROXIMITY, price and security have become such big factors in the choice of home that it is easy to miss some warning signs that should make you think twice before signing a sale agreement.
This is according to Rudi Botha, CEO of BetterBond, SA’s leading bond originator.
“Modern life is fast-paced and complicated, and buyers tend to concentrate on finding homes that are affordable, secure and as close to work and school as possible.
“They do need to be aware of some pitfalls that could have a very negative effect on the value of their investment. These include negative environmental factors, local infrastructure that is not in great shape and sometimes, rules made by a body corporate or home owners’ association that won’t suit their personal lifestyle,” said Botha.
To avoid these problems, he says, prospective buyers need to look beyond the property they are interested in to the neighbouring homes and the surrounding area, and take the time to do some research.
“We see an increasing number of reports on the problems caused by various kinds of pollution in water sources, or supply disruptions as a result of substation failures, pipe bursts and other factors like cable theft or where the roads and stormwater systems are visibly crumbling.”
Closer to home, says Botha, you need to assess how noisy the area really is by visiting at various times of the day and on different days of the week.
“In recent years, we have seen many illegal churches spring up in suburban homes and cause noise and parking problems.
“And then of course there are the neighbours with a fondness for loud parties, leaf blowers and power tools. You will most likely only learn about these individuals when you visit the area unannounced.”
If you are thinking of a community housing scheme like a sectional title block or an estate, he says, you must also be sure to establish what the monthly levies are and what they cover, and to read the conduct rules before you commit to a purchase.
However, says Botha, when you do find the right home in the right area, you should waste no time in making an offer and applying for a bond through a reputable bond originator like BetterBond. Issued: BetterBond
