When to Look at Houses for Sale in Pretoria
PUBLISHED 6 NOV 2013
We offer an extensive portfolio of houses for sale in Pretoria and surrounds. With the housing market in good shape again, it’s better to buy now than to wait a few years. And with house prices rising year on year, one can almost certainly expect a good return on your initial investment.
What can you expect to pay?
The average price for smaller houses for sale in Pretoria and other large cities in South Africa was about R790 000 at the start of 2013. For small to medium-sized homes the average price came to just less than R1.1 million with medium to large family homes selling at an average price of between R1.4 and R1.6 million.
The interest rates at present are reasonable, making it more affordable to buy a home today. Though the economy has shown a slow-down in recent years, with real house price growth also constantly under pressure, the outlook is still positive. Although a long way from the housing boom which ended in 2008 in line with a global financial slow-down, house prices showed a steady increase during 2012.
For buyers the slow-down is indeed favourable, enabling them to afford houses which if the price rise kept at the pre-2009 rate of around 32%, would not have been possible today. It has become considerably cheaper to buy an existing home than to build your own home and waiting for a better market before buying, which also means buying at a higher price in future.
Making a wise investment
A property is not just a living space, but can also be a solid investment if you manage the property right. This includes maintenance and improvements that will enhance its visual appeal to potential buyers. How long you will stay at the property or have it rented out before selling it again will also make a difference in the return on your investment.
Buying one of the houses for sale in Pretoria will eventually also mean a solid return on your investment if you manage your bond right and ensure regular upkeep of the property. Once the bond is paid off, you will have around a quarter to a third of your income free for investing in a retirement or investment plan. Though natural appreciation in the capital price will take place you don’t have to rely solely on the year-on-year rise in house prices to ensure that you will get the best possible selling price.
Aspects such as the state of the roof, any additions to the floor space, well-maintained garden, neatness of the property, the way you show the house and more can all contribute to getting a top price. As a buyer you will want a house that’s reasonably priced, well-maintained and located in a safe environment. Though this may not always be possible, it’s best to look for property that in terms of location meets the criteria you see as the most important such as:
- Proximity to good schools.
- How far the house is from your work.
- Is it in a security estate or do you prefer to live outside security estates?
Buying considerations shouldn’t be made solely on how big and modern the kitchen or bathrooms are or whether it has a well-designed barbeque space. You should consider whether you need a garden or prefer a communal area where people can swim and socialise. Also consider whether you want a lock-up-and-go type of property that’s easy to maintain or if you want something that you can work on. First determine what you want in the property, whether you will stay there or rent it out, how many people should live at the property, whether you have pets and what you see as affordable. Once you have made a list of what’s important to you, it will be time to browse for houses for sale in Pretoria.
Selecting a real estate agent
You can shop for a home through private ads without having to make use of an agent, but then you need to make sure you know and understand pitfalls such as clauses in the contract. You also need to understand that it can be a complicated process in getting the loan in time and working with the conveyance lawyer.
The real estate agent normally knows the area in which he or she is selling. The agent already has the responsibility of ensuring that the price is market related and that the interests of both parties to the agreement are protected. You will find that the houses we advertise for sale in Pretoria are competitively priced and our agents have the expertise to help you avoid any selling or buying pitfalls. View our range of properties and let us help you find a home that will meet your requirements.