When searching for property in SA, location truly is everything. The old estate agent saying of ‘location, location, location’ certainly applies for those planning to invest in property within any country, not least because it will affect the value of your investment in the years to come.
A good area provides the perfect combination of convenience, growth potential, infrastructure, facilities, high value properties and lifestyle. Properties in these areas may not be as low priced as those within other areas, but the benefits for owners are numerous. Whether you plan to rent out your property or keep it, choosing a good area in which to purchase makes all the difference when it comes to getting the most from your investment.
Choosing the Right Location to Purchase Property in SA
What factors determine a good area for purchasing property in SA
? Here are just some of the top things to consider when scouting for potential areas…
Areas that have service delivery issues, poorly maintained roads, lack of public spaces such as parks, community centres and transport routes or any other signs of subpar infrastructure are seldom likely to offer a good return in investment. Likewise, areas with higher crime rates and other problems also drop in their investment potential. On the other hand, areas that have well-kept roads, maintained facilities and good infrastructure attract families and long-term investors, leading to growth within the area that is good for the property market.
Another factor to consider is the overall quality of properties within the area. A beautiful, highly priced home that is surrounded by neglected houses that are clearly not reflective of the overall area quality should send warning flags to buyers. Properties situated next to vacant land can also be risky in the event of squatters. Well-kept homes that are positioned near other well-kept homes show an area that is on the rise upwards, which is far more likely to offer real quality in terms of living and pricing.
Then there is the growth potential of the area, which is essential to show whether the investment has sound potential for returns. Looking at commercial activity and even corporate investment in the area and its surrounds is a good indicator of whether the area has growth potential. Large scale property developers use careful market research and analysis to determine whether it is worth investing in any given area – if there are signs of development, it is a good bet that developers have fair confidence that the area is targeted for growth.
By taking a bit of care to choose areas and suburbs wisely, you can go a long way in finding the perfect property in SA that is well-positioned and able to provide you with many years of fruitful returns.