How do I find the right home when living in South Africa?

Once you have decided on a price range, try to establish exactly what you are looking for in a home.

Your new house has to meet the needs of your family. By thinking it through, you will be narrowing your search down to manageable proportions.

What to look out for

Assess: When you visit a new property, keep your requirements in mind. Assess the neighbourhood as well as the house’s internal and external state of repair. Look at other structural and physical criteria.

Room-by-room: Conduct a thorough room-by-room check, as missed cracks, damp and electrical faults could pose problems later on. It’s also worth noting areas that are oddly shaped or colour schemes that will need to be changed.

Quizzing the seller: Ascertain if the area is noisy or if the crime rate is high. Don’t feel shy about questioning why they are moving.

Property that qualifies for a loan

When looking for a new home and the prerequisite home loan, keep in mind that only certain properties are considered valid by the banks. (Consult with your home loan consultant about this and see Buying and Selling a Home: Estate Agents & Legal know how LifeGuide for more detailed information on homes eligible for bonds.)

Property that qualifies:

  • A normal house
  • Cluster homes – These are individually owned freehold property, usually in a development of similar homes, with limited access and security, and with no levy to be paid.
  • Mini subtype house – A small, subdivided portion of a larger property which is suitable for cluster housing developments.
  • Semi-detached houses – Two houses that are attached to one another. They may be on separate stands and bonded individually or on a single stand under one bond. They may also be sold as separate units in a sectional title development.
  • Townhouse or flat – The unit must be in an approved sectional title complex and comprise only of residential units.
  • Other properties – Including duet houses, residential property used for business purposes, and smallholdings.
  • Mini subtype house – A small, subdivided portion of a larger property which is suitable for cluster housing developments.
  • Semi-detached houses – Two houses that are attached to one another. They may be on separate stands and bonded individually or on a single stand under one bond. They may also be sold as separate units in a sectional title development.
  • Townhouse or flat – The unit must be in an approved sectional title complex and comprise only of residential units.
  • Other properties – Including duet houses, residential property used for business purposes, and smallholdings.

Property that does not qualify

  • Farms
  • Share block schemes
  • Blocks of flats
  • Timeshare (where ownership of the property has not been transferred to the client).
  • Smallholdings (in excess of 20 hectares)
  • An unconventional construction

Article From: CyberProp