Getting the best home for your moneyTue 03 Nov 2015
Are you ready to own a home?Mon 02 Nov 2015
How do interest rates affect the property market?Thu 29 Oct 2015
External factors that impact on property salesMon 26 Oct 2015
Steps to building wealth through real estateTue 20 Oct 2015
Older property purchasers continue to have greater buying powerThu 15 Oct 2015
Financial questions to askThu 15 Oct 2015
Tips for long distance home searchesMon 12 Oct 2015
DIY or professional contractorMon 12 Oct 2015
Maximising small spacesTue 29 Sep 2015
Tenants and landlords should know their rightsMon 28 Sep 2015
- Failure to refund deposits
- Unlawful notice to vacate
- Exorbitant increases in the rental
- Failure to pay rent
- Unlawful seizure of possessions
- Failure to reduce the lease to writing
What sellers can expect from a show dayTue 22 Sep 2015
Making compromises during the home searchTue 15 Sep 2015
Fixtures and fitting - what goes and what stays?Thu 10 Sep 2015
- The first aspect to establish is the intended nature and purpose of the item when it was attached. Is the item attached to the land or a structure erected on the land and does this item intend to serve the land on a permanent nature?
- How was the item attached? If the item is attached to the degree that removing it would cause damage to the structure or land that it is attached to, then the item should remained fixed and be considered permanent.
- The owner’s intention when attaching the item should be taken into account. If the intention of the owner was to permanently attach the item, then that should be given consideration.
Ways to use your tax refund on your homeMon 24 Aug 2015
Purchasing a fixer-upperWed 19 Aug 2015
Tips for surviving a house huntTue 18 Aug 2015
Pros and cons of going from renting to owningThu 13 Aug 2015
Although a worthwhile endeavour, deciding to take the step away from renting and towards owning a property comes with its own set of challenges. For this reason, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, it is best to consider all the pros and cons before signing on the bottom line. He provides some pros and cons to think about: PRO: The home is yours to customize Goslett says that one of the best things about owning a property is there is more freedom around what can be done. “Whether it’s changing the colours of the walls or removing the carpets, the owner has the ability to do just about whatever they want within the boundaries of their property. In most cases, owning a home means not having to consult with another party or agent before making changes or upgrades,” says Goslett. CON: All upgrades and changes are at the owner’s expense Along with the freedom of choice around changes that can be made to a home, comes the financial responsibility. If anything breaks or needs to be upgraded in a rental property, the tenant can simply request that the management agent or landlord sort it out. “When one owns a property, bear in mind that the onus will fall on the property owner to find a contractor that they trust to undertake the work, and to cover the cost of the repairs or replacement,” says Goslett. PRO: You can finally settle in one place Owning a home means no more worrying about the rent going up or the landlord deciding to sell. As a homeowner, there is security in the fact that you will probably be in that home for the next five to ten years. “Buying a home means that the owner can establish their roots, build long-term relationships with neighbours and settle,” adds Goslett. CON: No longer as mobile Renting a property gives the tenant the flexibility to move once the lease is up or their circumstances change. For owners however, the monthly bond repayment will remain their responsibility until the property has been sold. PRO: Build home equity The money that is paid towards rent is going to someone’s bond and it is money that the tenant will never see again. For homeowners, money paid towards their own bond is paying off an asset and building equity. Ideally the equity that has been built up in the home will be realised once it is sold and the owner will be able to walk away with money for a deposit on another home. CON: The market plays a part When one owns a property, they are affected by the phase of the market when it comes time to sell. “The market will have a major impact on how long a property stays on the market, as well as the price at which it sells. While it is ideal for a homeowner to sell their property for more than what they paid for it, this is largely dependent on the conditions surrounding the market, when they bought the property and when they decide to sell it,” says Goslett. “At the end of the day, there are several benefits to buying and owning a home, provided that the buyer is ready for all that homeownership entails. It is important that the decision is not made lightly and that all aspects are carefully considered beforehand,” Goslett concludes.
Things to avoid when selling your homeTue 11 Aug 2015
While it is useful to learn from your mistakes, it is far more ideal to learn from other people’s mistakes and thereby avoid making them altogether. According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, this is particularly important when selling a home. He provides a few common mistakes that sellers have made in the past, in the hope that future sellers avoid repeating them: Selling the home privately There are certain things that should be left to the professionals. Selling a property can be a complex, intricate process. While going it alone might be a tempting option to avoid paying an estate agent’s commission, working with a reputable real estate professional will ensure that the home is sold for the best possible price within the shortest possible time. A professional agent from a reputable company will provide the seller with a valuation, advice and all the additional data they need in order to ensure the property is correctly priced to sell. They will also market the property to the correct type of buyer from their database of potential purchasers. Selecting the wrong real estate agent While not using an estate agent can be a mistake, using the wrong agent can be just as detrimental to the success of the sale. The simple fact is that all agents are not equal, so it is vital to select the right one for the job. It is important to work with an agent who has working experience in the area that the property is situated. The agent must have a depth of knowledge on the property market, specifically the micro-market in the seller’s neighbourhood. Overpricing the property While it is good to have high expectations, sellers should rather be smart when pricing their home. Although many sellers will be tempted to over-price their property to counteract buyer negotiations, overpricing could chase buyers away altogether, leaving the home sitting on the market for longer than it has to. Listing the home at a price above fair market value and then letting it drop several times can also lead to a lower selling price than the seller was originally hoping for. A savvy agent can help the seller set the best, most competitive price for their home based on other recent sales and local market trends. Worrying about the little things When selling a property it is important to keep things in perspective. The seller needs to bear in mind that they are in the process of one of the biggest financial transactions they are likely to ever make. While it might be easy to get distracted by the costs of the pre-listing repairs and upgrades, once the home is sold, the seller can focus on the rewarding outcome and forget about the small frustrations along the way. Becoming overly emotional It is easy to get wrapped up in the fact that many memories have been built up in the home, however while these are heartfelt stories, they will not win over buyers. Although sellers will have an emotional attachment to the home, potential buyers will only be looking at the home itself. The seller’s personal history with the home can sometimes cloud a buyer’s judgment, which is where an objective estate agent can be a valuable asset.
“Avoiding these mistakes will help to ensure that the process of selling a home is less stressful and a far easier procedure to handle,” Goslett concludes.