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How to spot a property bargain

How to spot a property bargain

Author: Pranil Maharaj
Date: 2017-06-30

There are many factors besides price that astute buyers will consider before investing in property. Here are 6 factors to keep in mind.

Research

It is vital to have a good understanding of the market you are buying into. Markets change from area to area and sometimes even from street to street. Don't rush into something simply because the deal looks good - take a long hard look at the area.

Keep your eyes peeled

Bargains come onto the market every day and are generally snatched up quickly.

Read the fine print

Keep an eye out for legal notices and note which homes are being repossessed. Go and view the home before the sale

Handyman's dream

Many 'bargain' properties are marketed as needing a little TLC and indeed there are properties which have been bought for a song because work needed to be carried out before the owner could move in.

Price is king

A listing that's been on the market for a lengthy period without a drop in price is unlikely to be a good buy for those seeking a bargain.

Don't delay

Once you've done your homework and recognise a good deal when it presents itself, act on it as soon as possible. Remember there are others who, like you, want to bag a good deal and those who dither could end up losing out on the bargain of a lifetime.