MISTAKES TO AVOID WHEN INVESTING IN REAL ESTATE




By Neltah Tshepiso Mosimanegape

  1. NOT ENGAGING A REAL ESTATE PROFESSIONAL

Typically property hunters feel there is no need to engage a real estate professional such as an advisor or a real estate agent; they would rather go the investment route alone. Real estate professionals have the relevant market knowledge and understand the property transaction process better than a layman. They can also ensure that you get value for your money and consider your financial status when investing, which is often overlooked or understated by investors who do not engage professionals.

  • CONSIDERING ONLY ‘POPULAR’ LOCATIONS

Buyers tend to gravitate towards up-and-coming ‘hot locations’ when looking at purchasing property only. Buyers/investors need to look at the hidden ‘gems that are often overlooked. A popular saying by William Penn Adair sums this up succinctly: “Find out where the people are going and buy the land before they get there.” Educate yourself on the exponential and growth of your city/district and the country as a whole, and explore all your options.

  • RUSHING TO INVEST…

So your friends have purchased their first property, and you are feeling left out? DO NOT RUSH TO PURCHASE A PROPERTY JUST TO KEEP UP WITH THE JONESES! Due diligence and equipping yourself with real estate market information, and of course, engaging a professional for advice, as well as vetting your financing options, are very important.

  • …BUT DRAGGING YOUR FEET AS WELL

“The house you lookedat today and wanted to think about until tomorrow may be the same house someone looked at yesterday and will buy today.” Take your time to choose the property suitable for your needs carefully, but remember that other potential buyers are looking at the same property you may have fallen in love with. It might take you an even longer time to find a property that you love as much as the first one you were eyeing. So, ‘if you like it, put an offer on it!!!’.

  • NOT CONTACTING ACCREDITED PROPERTY CONSULTANTS

Property consultants with experience in the market can accurately help you avoid the above mistakes. Contact Tempest Gold on 72196950  to engage professional property consultants to guide you through your real estate buying proces

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