Buying a property is an exciting venture, but before you commit, it's crucial to ask the right questions after a property viewing. Whether you’re a first-time buyer or an experienced investor, here are the essential questions you need to ask to make an informed decision.
1. Understanding the condition of the property
When viewing a property in Namibia, it’s important to focus on the property’s condition. While you might be tempted to pay attention to cosmetic details like the paint colour or who will be clearing the garage, the most important thing is to understand any existing issues.
Ask the estate agent about known problems with the property. Every home has its imperfections, and since properties in Namibia are usually sold "as is," you have the right to know about potential problems before you make an offer. The agent should be able to provide a disclosure document outlining any faults that the seller is aware of.
Take photos of any issues you identify and factor in the cost of repairs or renovations when making your offer.
If you're looking for a fixer-upper, you'll need to assess the condition carefully to determine whether the property is worth the investment. Here’s how to spot the perfect fixer-upper in Namibia.
2. The age of the property
Knowing the age of a property is crucial. While fresh paint and new fixtures may give a home a modern look, the property’s age will tell you a lot about the state of its essential systems, like the roof, plumbing, and wiring.
Understanding the age of these components and the maintenance history of the property can help you decide whether it’s worth proceeding with the deal. Older properties may require more frequent maintenance or repairs, which could affect your long-term budget.
3. Ownership costs and hidden fees
Before committing to a purchase, it's vital to understand the ongoing costs of owning the property. Ask about local rates and taxes, as well as monthly utility costs like electricity and water.
These ownership costs will impact your monthly budget, so make sure to factor them in when determining if the property is affordable in the long run. Many buyers overlook these costs, but they can make a significant difference to your financial comfort.
Here we explore how you can maintain your finances as a home owner
4. Local amenities and the neighbourhood
What’s nearby matters, especially when you’re looking for a home that suits your lifestyle. Ask about local amenities, such as nearby shops, schools, restaurants, and public transport options. Additionally, inquire about the area’s safety and security, and get a sense of the neighbourhood's atmosphere.
If the residents are genuinely proud of their community and the area feels safe, it's likely that you’ll feel the same. If the area seems welcoming, it’s a good indication that you will enjoy living there too.
5. Why are the current owners selling?
Understanding the reasons behind the current owner's decision to sell can help you gauge the urgency of the sale. For example, if a family is relocating for work, they may be eager to sell quickly, which could give you more room for negotiation.
On the other hand, if the owners are retiring and in no hurry to move, they may be less inclined to negotiate on price. The answer to this question can give you valuable insight into how flexible the seller may be.
6. How long has the property been on the market?
The length of time a property has been on the market can reveal important information. If the property has been listed for a while or if the price has been reduced, it may indicate room for negotiation.
If the property was recently listed and already has offers, it’s likely that you will need to act fast and make a competitive offer to secure the property. Ask the agent about the listing history to get a better understanding of where the property stands.
Asking the right questions after a property viewing will ensure you make an informed decision. Understanding the property's condition, costs, and the local neighbourhood will give you a clearer picture of whether this is the right investment for you.
