If you’re in the market for a property, you’ll know what a big decision it is. Exciting? Yes. Challenging? Most certainly! There are so many things to consider when buying a property. True North development director Bruce Bremner shares some key points to keep in mind.
Price point:
The first component in the buying process, affordability, should be high on your list of considerations seeing that it could be the first barrier to entry. Buying a cheaper property has benefits, but it’s important to recognise that when it comes to price, ‘size does matter’! Always remember to factor in the meterage and compare apples with apples!
A long-term investment:
Property is a long-term investment and should not be viewed as a short-term investment solution. Although short-term investments have the potential to give you a great return on your money, they come with a higher inherent risk. Long-term investments offer a stable, guaranteed return over a period of time.
Buying off plan:
There are many benefits to buying off-plan and it has become increasingly popular. Enjoy the capital appreciation you receive between purchasing and completion of the development and, when buying in a sectional title scheme, you only start paying for your unit when your section (or the whole development) is completed.
Location and neighbourhood:
The old adage of location, location, location still rings true. People want to live in neighbourhoods that are convenient with easy access to lifestyle amenities, schools and work. Buying a cheap house in a blossoming suburb may be a safe bet, but buying into estates that form part of a mixed-use development with everything on your doorstep can be a winning formula.
Safety:
Safety has become even more paramount, and as an investor you want to invest in a property where your end user feels protected. Living in an estate that offers 24-hour security is especially attractive.
Lifestyle:
The pandemic highlighted the importance of living a balanced life and there is a growing need for wellness and better quality of life. More developments offer family-focused facilities that are pet-friendly and positioned in idyllic settings with landscaped streets and communal parks or green areas.
When and who it was built by:
Living in a new house or apartment means you’re not buying into existing maintenance or possible structural problems. Units at new developments are also generally constructed in line with the latest design trends and modern! Be warned though: do your homework on who the developer and contracted construction team are so you know the quality of the build will be up to scratch!
Set within North Point Ballito, Bliss Ballito is an affordable resort-style estate, boasting exceptional live-work-play facilities, a laidback lifestyle and proximity to the best amenities of the North Coast. It’s family-focused, pet-friendly and has 24-hour security.
Details: blissballito.co.za, [email protected], @bliss.ballito
