Table of Contents
Articles A Buildable Lot. First and foremost, you want to look for lots that are buildable. Location. Naturally, the location of the property is also important. CC&R’s (Covenants, Conditions and Restrictions) Zoning and Utilities. Possible Environmental Hazards. Easements, Home Placement, and Neighbors. High-Growth Areas.
What to look before buying a property?
10 things to consider before buying a property Budget. Purchase a property that you can afford, do not overshoot. Location. See if the location is convenient to all the family members. Lifestyle. Connectivity & transport. Clear title deed. Basic infrastructure. Social infrastructure. Construction quality.
What are the top 5 things to look for when buying a house?
What To Look For When Buying A House House Size. You should have a general idea of what size house you want before you even find a real estate agent. The Ideal Yard. The House’s Exterior. Bedrooms. Bathrooms. Living Room. Heating And Cooling Systems. Basement.
What are the top 10 things to look for when buying a house?
Consider these factors. The Location. They say that the three most important things to think about when buying are home are location, location, location. The Site. Beyond location, look at the site of the home. The Home’s Curb Appeal. The Size and the Floor Plan. The Bedrooms and Bathrooms. The Windows and Lighting.
Do I need a tax clearance when buying a property?
For a transfer of property to take place, a Municipal Clearance Certificate for Rates and Taxes as well as for Water and Lights is also required.
What to check before buying a plot?
There are certain factors you must keep in mind before buying a residential plot: Location. This is a really significant reason when you decide to buy a residential plot. Value of the plot. Area of the plot. Builder verification. Title deed verification. Necessary approvals by the local body.
What should you not say when buying a house?
Ross says there are three things you never need to disclose with your real estate agent: Your income. “Agents only need to know how much you are qualified to borrow. How much you have in the bank. “This is for your lender to know, not your real estate agent,” he adds. Your personal and professional relationships.
What percentage range is a down payment usually?
The average down payment in America is equal to about 6% of the borrower’s loan value. However, it’s possible to buy a home with as little as 3% down depending on your loan type and credit score. You may even be able to buy a home with no money down if you qualify for a USDA loan or a VA loan.
What should you ask when viewing a house?
10 questions to ask when viewing a house How long has the house been up for sale? How long have the sellers lived there? Is there a chain? What’s the area like? What work has been done on the house? What’s included in the sale? What internet access do they have? Can you see the Energy Performance Certificate?.
Why SARS wants your income tax number when you buy a property?
SARS now requires the transferring attorney to provide the tax numbers of the property buyer and seller and also that of any estate agency involved. Clearly, SARS want to ensure that the tax returns and payments of everyone involved in a property sale are in order.
What documents are needed to register a property?
The most important documents include the Title Deed and cancellation figures from the Bank, as well as a rates clearance certificate which serves as proof of payment for rates and taxes from the relevant municipality.
Do you need a tax number when buying a house?
“You have to include an income tax and VAT number (if you’re a VAT vendor) as part of your transfer duty declaration,” he explains, “which means that you have to be registered for tax before you can buy fixed property.
How do I know if a lot is legit?
Check the Paper Material. One of the first things you can check to immediately spot a fake title is the physical appearance of the paper. Check the Copies. Check the Serial Number. Check the Dates. Check the Title and Seal. Check the Title Number. Check the Reconstituted Tags. Check the Register of Deeds.
What is RL in property?
RL stands for Reduce Level. It means you will be the owner of 1600 sq-ft property but you have to construct the house/flats within 1400 sq-ft. 200 sq-ft you have to leave for the road.
What should I not tell my real estate agent?
10 Things You Should Never Say to a Real Estate Agent “I want to buy a home, but I don’t want to commit to one agent.” “Don’t show my home unless I’m available.” “But Zillow said…” “I’ll get pre-approved for a mortgage later.” “I don’t want to bother my Realtor®. “Real-a-tor” “Oh, you sell real estate?.
How much money should you have saved up before buying a house?
When saving up for a home, it’s key to have a reserve of cash savings — or an emergency fund — that isn’t used for the down payment or closing costs. It’s a good idea to have at least 3-6 months of living expenses saved up in this cash reserve.
How should you act when viewing a house?
House viewing tips Drive by. First impressions shouldn’t be underestimated. Be prepared. Make a list of all the things that are important to you and any questions you want to ask before the house viewing. Take a friend. Never go to a viewing alone. Check the outside of the property. Be thorough.
What are the disadvantages of a large down payment?
Drawbacks of a Large Down Payment You will lose liquidity in your finances. The money cannot be invested elsewhere. It is inconvenient if you will not be in the house for long. If the home loses value, so does your investment. You might not have the money to begin with.
Is 25000 a good down payment?
You have $25,000 in savings to make a down payment, covering 10% of the home’s value. Conventional wisdom might tell you to put down at least 20% of the home’s value, and that may be right for those with significant savings or an existing home to sell.
Is a 10 down payment enough?
It is absolutely ok to put 10 percent down on a house. In fact, first–time buyers put down only 6 percent on average. Just note that with 10 percent down, you’ll have a higher monthly payment than if you’d put 20 percent down.
