Johannesburg, October 2024 – Whether or not you’re a first-time home buyer, searching for a new property can be daunting. Not only is there a great deal of financial and emotional pressure riding on getting the purchase right, but you’re also faced with myriad choices in every aspect—from the location to the type of property and all the feature possibilities.

“When you buy a home, you’re not only making a major financial investment, you’re choosing the place that will be your personal haven for years to come, where you’ll raise your family, make memories, celebrate milestones, and relax after a long day’s work,” says Claude McKirby, Co-Principal of Lew Geffen Sotheby’s International Realty in Cape Town’s Southern Suburbs and False Bay.

“All of these factors have to be taken into account when searching for the right property to call home, and it can be overwhelming,” McKirby adds. “So, in order to successfully identify the right property and have confidence in your choice, it’s essential to understand what is financially feasible both in the short and the long term, and to clarify what you really want and need from a property.”

McKirby offers the following guidelines for choosing the right property for you and your family:

1. Define Your Priorities and Budget

Before you start browsing online or attending show houses, it’s essential to have a clear understanding of what you’re looking for in a home and what you can afford to buy. Start by making a list of your must-haves and nice-to-haves. Consider factors like the number of bedrooms and bathrooms, the size of the yard, proximity to work or schools, and any specific features like a garage, pool, or open floor plan.

Equally important is setting a realistic budget. Take a close look at your finances and determine how much you can afford, considering not just the purchase price but also property taxes, insurance, maintenance, and utilities. Don’t neglect to factor in potential interest rate hikes, which will affect your budget and affordability down the line. Pre-approval for a mortgage can help you establish a clear price range and show sellers that you’re a serious buyer.

2. Research Neighbourhoods

The location of your home is as important as the home itself. If you aren’t 100% sure where you’d like to buy, spend time researching different neighbourhoods to find one that best suits your lifestyle and needs. Consider factors such as safety, the quality of local schools, the proximity to work, public transportation, amenities like parks and shopping, and the overall atmosphere of the community.

Visiting the suburbs at different times of day and on weekends can give you a better sense of what living there might be like. Talk to residents, if possible, to get insider knowledge about the area. Remember, you can always renovate a home, but you can’t change its location.

3. Work with an Experienced Estate Agent

A knowledgeable real estate agent can be an invaluable resource in your home search as they can provide insights into the local market, identify properties that meet your criteria, and help you navigate the buying process, including negotiations and paperwork.

When choosing an agent, look for someone with experience in the area you’re interested in and one who understands your needs. A good agent will listen to your preferences, offer advice, and ensure that you don’t miss out on potential opportunities. They can also alert you to new listings before they hit the general market.

4. Leverage Online Tools and Resources

In today’s digital age, there are countless online tools available to help you search for a home. Websites like Property24 allow you to browse listings, filter by your criteria, and even see virtual tours of properties.

Use these tools to stay updated on new listings, compare prices, and get a sense of the market in your desired areas. Many of these platforms also offer insights into price trends and neighbourhood statistics, which can be crucial in making an informed decision.

5. Attend Open Houses and Private Showings

Once you’ve identified potential homes online, the next step is to visit them in person. Attending open houses and scheduling private showings will give you a better sense of the space, layout, and condition of the property.

During your visit, take note of things that might not be apparent in photos, such as the amount of natural light, the state of the appliances, or the condition of the roof and windows. Don’t hesitate to ask questions about the property’s history, any recent renovations, and any potential issues.

6. Don’t Rule Out Properties Too Quickly

Keep an open mind and view a variety of properties at the start of your search journey to help you draft your wish list. Once you understand what’s available within your budget, it will be easier to hone your wish list and identify the compromises you can accept, and those that are deal breakers.

7. Be Prepared to Compromise

If you don’t keep an open mind, you risk tunnel vision, and that will make it harder to find a property. Rather think about the things that can be changed in the properties you view versus those that can’t. For instance, internal layouts can usually be reconfigured, but if a property is situated on a main road, or too far from the school, that may be a genuine red line.

8. Focus on the Big Picture

It’s very easy to be seduced by a property that has one stand-out feature that’s high on your wish list, whether it be a large sunny kitchen, generous landscaped garden, or a walk-in wardrobe, but if you put too much focus on this feature and try to force an unsuitable property to meet your needs, you may live to regret it.

9. Be Ready to Act Quickly

The market can move fast, especially in desirable areas. When you find a home that suits your needs and falls within your budget, be prepared to make an offer quickly. Having a pre-approval for a bond, all the relevant documentation, and a well-prepared real estate agent can give you an advantage.

10. Trust Your Instincts

Finally, trust your instincts. While it’s essential to be practical and thorough in your search, your home is also a place where you’ll create memories and spend a significant portion of your time. If a home feels right and meets your key needs, it might be the perfect fit.

“Finding the right property takes time and patience, and drawing a blank when house hunting can be very frustrating,” says McKirby. “However, extending the scope of your search at the beginning will help you better understand your options and, later, to efficiently narrow the list down.”

“You’ll get much more traction with agents, too, once it’s clear to them that you have done your homework, have a good idea of what you want, that you are realistic about your options, and that you’re ready to proceed when the right property comes up.”

Press Release Submitted By:

Lew Geffen Sotheby’s International Realty
Contact Person: Claude McKirby

Total Words: 1,243