Buying a New Home? 5 Important Checks to Make

If you are buying a home for the first time, then this is the year to do it. The property prices have slowed down and we are experiencing a positive lending environment. However, if you have found your dream home then you need to do some checks before your put in that offer.

It’s a good idea to have a home inspection conducted before you buy a home. You can also include a clause in the offer to purchase that makes it subject to stipulated repairs. This means that your offer comes with the condition that the seller must fix any damages. 

So, what essential checks should you do before you buy a home?

Is The Geyser in Good Condition?

The general condition of the geyser should be checked by a registered plumber and to make sure that it meets regulatory requirements. The geyser needs to be in top condition because replacing a geyser can cost thousands and if a geyser leaks or bursts then it can destroy a room and the items in that room. 

Is The Roof in One Piece?

The roof of a home can hold many surprises, so get a registered builder to inspect it and check for any cracked tiles, potential leaks and so on. You don’t want to find that further down the line that there are roof problems as these can be expensive to fix. 

Pay Attention to the Ceiling

A ceiling can hold many secrets, so you need to look out for mould or fresh paint jobs that could be hiding damp or mould. 

What’s the Garden Like

Is the garden green and beautiful? If it is then be careful. You need to think about how much you will spend to maintain it and if it’s a water wise garden. You may find that down the road you will need to redo the garden to make it low maintenance and water wise.

Check for Electrical Faults

The seller will need to get an electrical certificate issued, which will identify any electrical faults. If any issues are identified, then the seller will be responsible for getting these fixed. 

Have a professional inspection done and if you know someone that has experience in spotting problems then take them to view the property with you. 

The home that you move into needs to be structurally safe, up to code and damage free. Add the home inspection clause to the contract so that your offer is dependent on a home inspection. However, keep in mind that the seller may see your offer as less desirable with this clause included, especially when the seller knows there are things to fix. But you want to make sure the home is safe and won’t cause you expensive issues later on, so it is advisable to include the clause. 

Why Investors Are Hoping for a Big ANC Win

This Wednesday, South Africans will be casting their votes and investors are hoping that the ANC has a strong win so that stability can return to the market. 

Source: www.thesouthafrican.com

According to the City Press, who spoke to several economists, investors and market analyst explained why it is important for the ANC to gather a lot of support on May 8th

If the ANC gains strong support of around 60% then:

  • Ramaphoria will gain a second wave, which will result in a market rally and boost the rand.
  • Policies are more likely to be implemented and when there is policy certainty growth is stimulated. 
  • The reform agenda of President Cyril Ramaphosa will be able to continue and he will be able to carry on tackling corruption. 
  • Foreign investors will be more willing to put money into the country
  • Eskom will be in a better position to reform, which will then please rating agencies

However, on the flip side, if there is low support for the ANC then:

  • It will show a rise in populism, which is anti-business. This will then lead to further uncertainty, a wobble in the market and the rand would weaken. 
  • Coalitions will need to form; which South African has proven to be bad at. This will result in further uncertainty.
  • Ramaphosa will be in a more delicate position and further down the line he could be removed
  • Eskom reformation will be uncertain and this can lead to downgrade by rating agencies. 

However, the growth prospects of South Africa over the next few years will remain subdued and even the reform that is strongly supported will take time no matter the outcome of the election.

Article Source: https://businesstech.co.za/news/government/314974/why-investors-want-a-big-win-for-the-anc/