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Things you should consider as a first time buyer of Cape Town Property
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Posted On :
Nov-09-2010
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Article Word Count :
535
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The current economic climate makes investing In Cape Town properties for sale as sound idea – however before taking the plunge, be sure to do some research on what real estate will give you the best return.
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The current economic climate makes investing In Cape Town properties for sale as sound idea – however before taking the plunge, be sure to do some research on what real estate will give you the best return.
The first fundamental is to figure out the quantum of gain. Do you want to make a killing in the short term or are you patient enough to weather out the Cape Town property market in the log term.
What you answer here will decide the direction of your investment in the Cape Town property market. If you are only interested in short term gain, you need to look at properties that are heavily in demand like beach front apartments on the premium suburbs of the Atlantic Seaboard. This however can be risky as these suburbs are already priced high. If instead you are willing to be patient for your return there a good range of suburbs that are slowly getting gentrified and in the next decade will become very desirable pieces of real estate.
Any real estate investment even when it’s very rewarding is risky. Before wetting your beak you need to be aware of some of the basics of real estate investment before investing in the Cape Town property market.
There are lovely suburbs that cater to all your lifestyle needs in the Cape Town property market, however be sure to check with neighbors of the area you decide on before making an offer. Your neighbors will be the best barometer of the street’s viability. Remember you will have to live with them for a very long time.
All locations within the purview of the Cape Town property market have listing agents who will be able to give you all pertinent details that you need to buy the best house for yourself. If you are buying a previously owned property, be sure to ask your realtor about the history of the house? It is very important to know about in previously existing fire, mold, plumbing or dry rot issues that the house might have. Find out if there have been unnatural deaths on the property, also make sure that all back taxes have been paid and the seller has the right to sell the property.
If the House has any association of coop dues find out when they have to be paid, whether the dues take care of things like lawn maintenance? Are the fences and trees within its purview etc?
To be able to enjoy your Cape Town property without any worry make sure you know how old the appliance, water heaters and furnaces are. This is also an indication when they have to be changed. Remember changing a significant appliance, taking care of a mold issue or arrears in back taxes can add a large chunk to the money you will spend to buy your Cape Town property.
Remember that your realtor is appointed buy you to find the best possible house. If you are not happy with what he or she is showing you it might be time to go in for a change.
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Article Source :
http://www.articleseen.com/Article_Things you should consider as a first time buyer of Cape Town Property_40930.aspx
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Author Resource :
Find more information relating to cape town properties, and cape town property here.
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Keywords :
cape town property, cape town properties,
Category :
Business
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Business
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