Johannesburg – A new survey has revealed the realities of today’s local property buyer, and what is most important to them when it comes to where – and how – they choose to live.
Urban property development firm Blok conducted a survey among almost 1 500 respondents to determine what factors were driving the purchasing decisions of would be property buyers.
The survey saw a total of 1 470 respondents, the majority of whom were based in the Western Cape (55%), followed by Gauteng (29%) and KwaZulu- Natal (12%).
Thirty-four percent of respondents fell within the 26-30 years category, followed by the 30-36 age bracket, revealing a largely millennial audience.
Jacques van Embden, MD at Blok, said “a vital step in our planning process is to ascertain directly from buyers what is most important to them when it comes to choosing a property”.
“This takes the ‘guesswork’ out of development and ensures that we are designing a product that meets the real needs of the modern consumer,” Van Embden said.
Of those surveyed, only 20% owned the property where they lived; 26% indicated that they rented with friends or a partner, while the largest group (35%) still lived at home with their parents or caregiver.
This is of particular interest, said Van Embden, when you consider that the majority of respondents who lived at home were between the ages of 26-36, while 13% were over 40. Things to look for when house-hunting.
1. Hidden defects
First impressions are lasting ones. A seller is going to do their utmost to make a memorable impact to attract the best offer. Look for little defects that might have been disguised by a fresh coat of paint.
2. Beyond the clutter
People have different ideas about décor. Look beyond the clutter, colours, cupboards and carpets that might not be to your liking and be open to hidden potential.
3. Price right Not too high and not too low
Do your research on selling prices for the area so that you have a better chance of having your offer accepted. South Africa’s leading home loan comparison service offers a range of home loan calculators to help you establish what you can afford.
4. Use a home loan comparison service
Work out what you can afford to pay on a bond and get the best deal from a bank by using a home loan comparison service. If you can get pre-qualified for a home loan, all the better. That way you know your credit score, and what you can realistically afford, before you put in an offer on a home.
5. Investigate the area
Get a feel for the neighbourhood, day and night, and check on security with the local police station. If you’re buying anything but a free-standing home, high noise levels and bad views should be a deterrent.
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