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Taking advantage of the climate

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Grant Smee’s top tips for investors and buyers who want to take advantage of the climate:

 ◆Determine your strategy and
goals: do your due diligence and educate
yourself. Rather than listening to various
sources, find a trustworthy source of information
and stick to your plan.
Know your “why”. If you are purely investing
for quick gains, then the property market might
not be for you.
We need to take a long-term view to the market
and be realistic about the returns in the short,
medium and long term.

◆Be prepared for change: it is important to
continuously revisit your goals and strategies.
As we grow older, our appetite for risk changes,
as does our finance independence.
◆Negotiate carefully: when negotiating, factor in
every cost. Our levies are, on average, R1 500,
a proportionally high cost often forgotten when
evaluating a property.
Our interest rates will change, the market will
change. Insurance is needed, bond and transfer
costs are to be factored in and even the cost
of eviction.
Eviction is an expensive and laborious process,
so be sure to factor in a monthly fee using a
trusted service provider.

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