Researching a New Affordable Housing Development: What to Know Before Moving In
Category Affordable Housing
The price of property in South Africa has grown significantly over the past few years and with a similar growth in population – the demand for more affordable accommodation has emerged. Due to this need, many affordable property developments have been established, with many other projects still being planned.
When home buyers look for property in these affordable housing developments, there are a few important things to take note of. Before diving head first into a sales agreement, it is vital that proper research is conducted, so that you can protect you and your family’s interests.
Is the Builder/Developer Reputable?
There are many ongoing affordable housing developments that are being advertised and marketed across South Africa, but unfortunately not all of these projects may be as legitimate as they seem. Before spending or investing thousands on a property it is important to be careful and find out whether or not the developer or builder is credible. Talk to a property professional and conduct some research of your own online to find out what their industry standing and reputation truly is. Housing SA works with SA’s largest developers who have a very long and proven track record in the market.
Stick to Your Budget
It is very easy to become overly excited about buying a new home and commit to purchasing a property that is well-over your planned budget. Keeping in mind that there are many additional costs involved in buying real estate, you have to be mindful not to spread your finances too thin and end up in a mountain of debt. Make your sums carefully and stick to the plan when spending funds.
Research the Neighbourhood
Before relocating your family to a new area, it is a good idea to examine the neighbourhood. Being familiar with the area will not only help you to better adjust, but will also enable you to make a well-informed decision that you will not regret at a later stage. Find information about the crime rate and safety in the suburb; know where the best schools are located etc. This affects the quality of life you will enjoy while residing there. By personally visiting the neighbourhood, you will get a first-hand overview of your new location.
Amenities, Facilities and Services
Depending on your lifestyle and the needs of your family, a new development needs to provide you with access to the various facilities and services that you will require. How far the closest shopping centre is, whether or not there are any transport or commuting opportunities; as well as emergency services are all things you have to look at before buying a home.
Work With a Property Professional
When buying a house, the best person for the job is a real estate agent, as they can advise you on a specific area or development. Working directly with developers and servicing these specific areas on a daily basis, they have personal experience and insights which will help you to make the best choice.
If you are looking to invest in a new affordable housing development, Housing SA has a comprehensive portfolio of developments available. Our team of area specialists are devoted to educating and assisting our clients in making well-informed purchasing decisions. Contact us today to find affordable property options in an area near you.
Author: Housing SA