Real Estate Investor Magazine South Africa March 2014 | Page 29

RESIDENTIAL
Herewith six important pointers to add to
your checklist, before signing on the dotted
line, which you caan’t turn back from.

taxes accounts upfront, as this is nowadays a
standard practice.

Avoid going through the entire purchasing
process without asking if these can be obtained.

Additional costs

Changes in the neighbourhood

Defects

If you have set your heart on a home and there
are large open areas around it ask questions
about the zoning of the property and find out
what the land is being earmarked for because
this could devalue your property

Be on the lookout for obvious cracks, damp,
termites and ants. Take a close look at the grass
and at wooden window frames to ensure that
you are not buying someone else’s problem. Be
sure to switch the swimming pool motor on and
off, and make a point of asking if the swimming
pool is leak-free, as these can be costly to repair.
Check the pool cleaner to ensure that it too is
in good working condition. It is imperative
to check garage motors, automatic gates,
intercoms, security and irrigation systems.

Don’t let these become the straw that breaks the
camel’s back. Look at hidden costs and keep a
keen eye on what you will be paying for rates,
taxes and levies.
Always do your calculations upfront to ensure
that you will be able to afford these additional
expenses. Be on the lookout for special levies
in sectional title complexes.If such a levy was
in place prior to you putting in your offer, it
will be for the account of the existing owner.
However, if a levy is put in place after you have
taken transfer of the property, it will be for your
account.
While on the subject of body corporates,
doing your homework is once again important.
Is the body corporate healthy? What is the