AuctionInc - Property Auctions - Whatsapp Icon

Sign up for our newsletter

Be the first to know about upcoming Auctions.

Please complete required fields.
Please enter a valid email address.
AuctionInc - News Letter Close Icon

Time to next auction

0
:
0
:
0
:
0

Back to Blogs

Blog
What you need to know before buying a residential property

When it comes to buying property, we're all familiar with the adage “location, location, location” but what are the other important factors?

Article image for What you need to know before buying a residential property
Posted: 20 March 2019

When it comes to buying property, we are all familiar with the adage “location, location, location” but what are the other important factors to consider before you buy?

What’s your budget?

First and foremost, you need to consider your total budget available for the purchase. Remember to factor in all the hidden costs associated with transaction, these include transfer costs, transfer duties, bond costs, cost of movers and any additional work that needs to be done on the property itself. Once you have a firm number in mind the hunt for your perfect property can begin.

 Where to find the best value?

There are a myriad of property sales platforms available to help you find your property including online sales platforms, local estate agents and auction - a platform that is rapidly gaining in popularity. More and more buyers are attending auctions because they know they can acquire properties at fair value and that they are dealing with committed sellers (not people just testing the market).

Does it serve your current and future needs?

Before committing to any specific property, look at it from both a functional and an investment point of view. From a functional point of view, it’s important to consider whether the property serves both your current and future needs. From an investment point of view, you need to consider how the property stands to perform as an investment over time. Generally speaking, property prices at a suburb level are either on the rise or the decline. Make sure that you only buy a property in an area that’s on the rise to achieve capital appreciation over time.

Inspect it thoroughly

When you have found your ideal property in the right area, make sure to inspect it thoroughly! Walk through the property with an independent contractor who can point out things that may have gone unnoticed to you.

Finally, ask yourself does this property make you feel at home?

Recent Blogs

SA's Largest Wholesale Herb Nursery & Entertainment Venue

Bid on the esteemed Doonholm Plant Nursery, South Africa's Largest Wholesale Herb Nursery & Entertainment Venue, set for auction on August 27th. Situated on a sprawling 8.9-hectare estate in the highly sought-after Bridle Park, Midrand, this property offers a unique blend of income-generating avenues and future growth potential. Its prime...

27 August 2024

Read More

Versatile Medical Property

We are excited to announce the auction of a newly renovated health facility, an exceptional investment opportunity in one of Johannesburg's most sought-after areas. This prime property is located on 17th Street and has a Gross Buildable Area (GBA) of ±360m² and an ERF size of 495m². It shares a wall with the Linksfield...

27 August 2024

Read More

Sign up for our newsletter

Be the first to know about upcoming Auctions.

Please complete required fields.
Please enter a valid email address.

Copyright 2025 AuctionInc