Finding the right property

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derp90

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How did you do your house-hunting? I've set up alerts for the areas I want and the budget I'm looking for. Is there more I should be doing?

I saw a house that I loved, only listed last week and it's already under offer. Seems you have to be super quick.

When you view the right house, do you just know you MUST have it?
 
Introduce yourself to the best agents in the area and let them know your requirements and budget.
 
3WA said:
Introduce yourself to the best agents in the area and let them know your requirements and budget.
Click to expand...
There are hundreds of agents, how are you supposed to know who the best ones are?
 
The right one will come along. Just be patient. And if you like a house you put in an offer.

Not really the best time to be buying at the top of the market.
 
derp90 said:
There are hundreds of agents, how are you supposed to know who the best ones are?
Click to expand...

Count all the For Sale boards per agent in the neighbourhood. Let this value equal X.
Count all the adverts per agent on Property24 and Private Property. Let this value equal Y.

Best agent in the neighbourhood is the one who scores highest on (X+(Y*0.5)). If everyone in the neighbourhood is picking them, they must be doing something well.

You can also sign up with the top 5 agents if you want, as this will let you be more thorough, especially when it comes to sole mandates.
 
Read this thread:

Offer to purchase question

Going to keep it as short as possible. We are in the market for a new home. Went looking at a few places and liked one a lot. But house does need some work and area is not exactly our preferred location. Original listing price was way out of feeling with the market and area. We decided to...
mybroadband.co.za mybroadband.co.za
 
3WA said:
Count all the For Sale boards per agent in the neighbourhood. Let this value equal X.
Count all the adverts per agent on Property24 and Private Property. Let this value equal Y.

Best agent in the neighbourhood is the one who scores highest on (X+(Y*0.5)). If everyone in the neighbourhood is picking them, they must be doing something well.

You can also sign up with the top 5 agents if you want, as this will let you be more thorough, especially when it comes to sole mandates.
Click to expand...
Meh, not true. They are the biggest because they are the dirtiest. Yuck.
 
RedViking said:
Meh, not true. They are the biggest because they are the dirtiest. Yuck.
Click to expand...

The agent's job is to show you properties. The bigger the agency, the more properties, the better the chance you find a place you like. You gotta assume ALL agents are dirty, big or small, and do your own homework properly.
 
rietrot said:
The right one will come along. Just be patient. And if you like a house you put in an offer.

Not really the best time to be buying at the top of the market.
Click to expand...
I've found one I mostly like barring a couple things, but the potential for finding the perfect property at the perfect price in the perfect area always prevents me from actually putting in an offer.
 
Maybe think of what you emphatically insist on i.e. north facing, swimming pool, 5km from high school..... and price. Tell the agent and that should prevent her from taking you to places you definitely don't want.

Things that you're flexible about won't matter.
 
derp90 said:
I've found one I mostly like barring a couple things, but the potential for finding the perfect property at the perfect price in the perfect area always prevents me from actually putting in an offer.
Click to expand...
Make a list of must have and wants.

Wants is a bonus, but can do without or add later. Must haves are non-negotiable to me.

So many of my friends bought properties settling for less and buying under pressure (mostly pressure from the lovely agents), and a month or two later, they not happy anymore.
 
derp90 said:
How did you do your house-hunting? I've set up alerts for the areas I want and the budget I'm looking for. Is there more I should be doing?

I saw a house that I loved, only listed last week and it's already under offer. Seems you have to be super quick.

When you view the right house, do you just know you MUST have it?
Click to expand...
I will just say, be wary of being super quick and thinking you must have it. This could very well be the biggest financial item you'll purchase. So there's two sides to this as well.
1. No place is perfect so don't end up with analysis paralysis. There's things you can change over time (old tiles, funky carpets), and other things you can't easily (neighbours, location, layout) but if you try nitpick over every small bug then no place will be good enough.
2. Even if you find a place that resonates with you, good location, well priced, still take time to do your due diligence and make sure you're comfortable with everything. If someone snaps it up before you, hey, that's life, but don't let that mess up what's comfortable for you. Yes take risks, but on your terms. There is always another dream home, always.
It can take a while but try enjoy the process
 
Sepeng said:
I will just say, be wary of being super quick and thinking you must have it. This could very well be the biggest financial item you'll purchase. So there's two sides to this as well.
1. No place is perfect so don't end up with analysis paralysis. There's things you can change over time (old tiles, funky carpets), and other things you can't easily (neighbours, location, layout) but if you try nitpick over every small bug then no place will be good enough.
2. Even if you find a place that resonates with you, good location, well priced, still take time to do your due diligence and make sure you're comfortable with everything. If someone snaps it up before you, hey, that's life, but don't let that mess up what's comfortable for you. Yes take risks, but on your terms. There is always another dream home, always.
It can take a while but try enjoy the process
Click to expand...
Yeah, there's a property I really like, save for nowhere to put the TV that works properly. It has to be in front of a window (nowhere else to put it).

Weird how a TV can be the deciding factor.
 
Sepeng said:
I will just say, be wary of being super quick and thinking you must have it. This could very well be the biggest financial item you'll purchase. So there's two sides to this as well.
1. No place is perfect so don't end up with analysis paralysis. There's things you can change over time (old tiles, funky carpets), and other things you can't easily (neighbours, location, layout) but if you try nitpick over every small bug then no place will be good enough.
2. Even if you find a place that resonates with you, good location, well priced, still take time to do your due diligence and make sure you're comfortable with everything. If someone snaps it up before you, hey, that's life, but don't let that mess up what's comfortable for you. Yes take risks, but on your terms. There is always another dream home, always.
It can take a while but try enjoy the process
Click to expand...

It is also a sales tactic of estate agents and used car salesmen to pretend theres 10 offers pending, but if you act now you can jump to the front of the queue. This is nonsense.
 
derp90 said:
How did you do your house-hunting? I've set up alerts for the areas I want and the budget I'm looking for. Is there more I should be doing?

I saw a house that I loved, only listed last week and it's already under offer. Seems you have to be super quick.

When you view the right house, do you just know you MUST have it?
Click to expand...

You need to look around quite a bit to know a good deal when you see it. I spent almost a year going to show houses every now and then before I bought a place.

Now, when we decided to rent, we saw a couple of good and bad places, and when the right one came around we knew immediately it was right, and about as good as we can get in that price range. We knew the compromised we had to make on all other properties, and the compromises on this one suited us best.
 
derp90 said:
How did you do your house-hunting? I've set up alerts for the areas I want and the budget I'm looking for. Is there more I should be doing?

I saw a house that I loved, only listed last week and it's already under offer. Seems you have to be super quick.

When you view the right house, do you just know you MUST have it?
Click to expand...

I work out what I can afford, half that and then go buy. When interest rates go up, I still want to afford the bond.

I then look for what is in my budget, which is always "Sort By Lowest Price" and buy the first property. When I view I just walk in, look and then decide on the spot if I don't like it.

That is how I bought my house in Somerset West and my holiday home in Kleinmond.
 
rietrot said:
It is also a sales tactic of estate agents and used car salesmen to pretend theres 10 offers pending, but if you act now you can jump to the front of the queue. This is nonsense.
Click to expand...

It depends. Having now looked at rental properties, there were a few that were listed very recently (same week), and when we wanted to organize a viewing they were already taken.

Then there were others which "all will be gone by this time next week", but you know that they have been on the market for 2 or more months already.
 
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