REAL ESTATE TIPS FOR BUYERS
Tips for Real Estate Buyers
Whats New:
This is La Grande's New Web Site.
February 2011
Please feel free to give your comments on La Grande's new website, by clicking on Contact Us in the Main Menu.
Current News
Interest rate Cut
November 2010
On 18 November 2010 The Reserve Bank has anounced that the repo rate is reduced by 50 basis points. This means that the banks will reduce their prime lending rate down to 9%.
Recent Events
No Transfer Duty or Capital Gain Tax?
February 2011
For those of you who have their primary residence registered in a CC., Trust or Company, now have the opportunity to transfer the property into your own name, with out paying transfer duty or capital gain tax. Before you take any action, consult with your finacial advisor to establish whether this will be to your advantage. Then consult with your transferring attorney to establish whether you will qualify not to pay transfer duty and capital gain tax. Then establish with your bank wheteher you will qualify for the outstanding bond amount. You have to take action before the end of 2011.
TIPS FOR BUYERS
• Try and visit the neighbourhood during the week and on the weekend to ascertain road traffic and noise levels at certain times.
• View and inspect the home in daylight and in the evening. This may help to confirm your decision whether to buy or not.
• Find out what is the crime in the area like?
• The nearer the schools, shops, parks and transport are, the more you can expect to pay ?
• Is the house on a busy road or a quite close?
• Is it near an industrial area, are the surrounding areas better or worse?
• Are the houses in the street better or worse? (Remember your neighbours home will affect the value of your home).
• Check with the local authority for plans for future highways, roads, shopping, centres, schools or low budget developments etc.
• What security features are there?
• Remember the electrical inspection is a safety inspection and does not mean all electrical appliances work .
• How much to offer? Ask yourself, how much is the property worth to you. The majority of people do buy their house while being in an emotional state. The buyers in front or in the back of the queue may be even in a more emotional state and may be prepared to pay the asking price. The same house may be much more valuable to one person or family than to another.
Buyers Take Note
Buyers, it will be in your own interest to do the necessary research, to empower yourself to know whether or not you can put in an offer to purchase. By empowering yourself with knowlege you will find the purchasing of a property to be much less stressful.
