Budgeting tips to help save for a depositTue 10 Nov 2015
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
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.