Real Estate Investor October 2020 October/November 2020 - Page 9

I know it is the right time to buy my property , but what is the very first step ?
PROPERTY ADVICE

Q

I know it is the right time to buy my property , but what is the very first step ?

ROB
WESSELO
MD International Housing Solutions

A

Knowledge is power , and it is important that you take your time to study the information to gain some knowledge . As professionals in the residential property industry when we look at acquisitions at a piece of land that we intend developing in , we spend months going through market analysis trying to understand what is around the property , what is coming into the area and when , and we also look at the other properties that are in the same area . Consider how much they are worth and / or valued and what are their rentals going for . In today ’ s market you need to be careful about open spaces near you , you don ’ t want to buy property that is on the peripheral of the development mode . So , spend the time understanding the market , look at other reliable properties in the area , be very careful about understanding the that is coming in as well . Just research .
MARK SCHONROCK
Development Manager , Concor Developments

A

The more research you do , the better position you are going to be in making a decision . Everyone has different circumstances , so Identifying where you want to be and considering the factors that influence making this decision is very important . Consider where you work , where your family is , where your friends are , what is important to you and can you work remotely ? Once you have identified these and where you want to be you can check the affordability of the properties you may have viewed already and check what is available in terms of property developers , prices etc . Government subsidies also works to the advantage of first-time property buyers , however this is not at their disposal and in the market for them . The subsidies from the government is a great programme in terms of assisting people climb the property ladder , first time property buyers should also check this one out . Otherwise speak to real estate agents and developers about these things , they are there to help you .
SA Real Estate Investor Magazine OCTOBER / NOVEMBER 2020 3