How big should your property be?
http://www.iolproperty.co.za/roller/news/entry/how_big_should_your_property
“Unless they focus on what they need rather than on what they might want, homebuyers are quite likely to end up with too much house.”
So says Harcourts Africa CEO Richard Gray, who notes: “In many countries, there has already been a significant move away from suburban ‘palaces’ to more compact homes that are more affordable, use less energy and are easier to maintain.
“And now we are beginning to see that trend gain momentum in SA, thanks largely to the strict application of the National Credit Act and the limits placed on initial affordability by the lenders’ almost universal insistence that homebuyers put down hefty deposits.”
“But there are several more good reasons for prospective buyers to be very practical when choosing a new home.”
The three main things to think about, he says, are the size of the stand, the size of the home itself and the need, if any for “extras” such as a pool, a second garage or even a garden shed.
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