For first-time property buyers in South Africa, stepping into the market is an exciting yet daunting experience. With fluctuating property values, regional market differences, and unique legal requirements, the process can be complex. Antonie Goosen, principal and founder of Meridian Realty, shares his insights on what new buyers should consider to make informed and sustainable decisions when entering the property market.
According to Goosen, one of the most crucial elements for first-time buyers is to consider the long-term implications of their purchase. “Buying property isn’t just about meeting your current needs; it’s also about considering how the home will fit into your future plans. This includes its potential resale value and how easily it could attract buyers down the line,” he says.
While first-time buyers may be focused on affordability and functionality, he advises them to think ahead about what they may want from the property in five or ten years. “Think about how your family or career needs might change, and try to choose a property that offers room for growth,” he adds.
Location is a critical factor in determining a property’s long-term value. he emphasises that buyers should prioritise established or developing areas with good access to amenities, quality schools, and safety features. “Location is one of the most influential factors in determining a property’s value,” he explains. “A well-situated home not only enhances your living experience but also offers stability in property value.”
Moreover, Goosen suggests examining future development plans for the area. “Infrastructure upgrades, new business hubs, or public transport routes can boost property values, while new industrial zones may have the opposite effect. Do your research or ask your estate agent about upcoming developments that could impact the area’s appeal.”
“Information for this article was sourced from Property24.”
