Canadian expats in South Africa looking into purchasing a home in the African country should do their homework. While it is a good idea to buy a home in South Africa especially if you don’t want to rent, there are a few considerations that you should take a look at. Below are a few tips for buying houses in South Africa.
Unless money is not much of an issue, avoiding the popular places in South Africa is a good way to get a better deal in terms of buying a home in the country. There are a lot of beautiful homes to choose from and not all of them are located in the downtown part of major South African cities. It pays to keep searching in the rural areas to get a spacious home.
While it would be fun to do the research on your own, hiring the services of a reputable real property agency or agent will make the search a lot easier. Real estate agents have a wider network than you do and hey usually have a number of houses that they can show you. With a real estate agent, all you’d have to do is visit one house to the next until you finally fall in love with one.
If you do not do your homework, you might end up having to renovate the whole home after you’ve purchased it. Renovation costs can be a burden so ensure that from the very beginning, you get the house checked or check everything yourself to make sure that it is solid and does not need to be renovated.
Buying a home in an urban area can cause a headache because of the traffic and the pollution. Another consideration is the crime rate in most major South African cities. If you are uncomfortable with these realities, buying a home in South Africa may not be for you.
While there are many affordable homes for sale in the country, there is a possibility for foreign nationals to pay more than they should. You should educate yourself on how much the going rate is for homes that satisfy your specifications.
If you are buying a home in the African country as an investment, you’d better hold your horses because the inflation rate is at 5 percent per annum. This means that once you decide to sell the home you bought, you will not have a return of your investment. The good news is, the economy is starting to recuperate so Canadian expats wanting to buy a home for investment purposes should not be discouraged in purchasing property in the area.