We’re all aware of the crisis facing international property markets. With everything heading south, is the ownership of a second property on the coast of South Africa a good investment?
According to Dina Porteous, area principal for Pam Golding Properties in Margate, this is one of the best investments you can make if you’re focused on a long-term view. “Look at it as a savings account and that you’re building wealth through property rather than saving the money in the bank for your retirement.”
How would you go about purchasing this property if you already own another home? Here’s one way that you could secure a bond on your second property with very little effort and six buying tips for you to consider when purchasing the property. By following this process, you can rest assured that you’ll profit from this long-term investment opportunity.
Now You Can Get Your Slice of Retirement Paradise with Very Little Effort
When you purchase a coastal property, you’ll probably have to acquire a second bond over and above your existing one. Most of us don’t have the time to visit various banks and lending institutions to acquire these loans. This is where the services of a mortgage originator come in.
Sifiso Msomi, of Shepstone & Wylie Attorneys’ property department, explains that the key function of a mortgage originator is to introduce a lender to a borrower with very little effort on the buyer’s side. The mortgage originator will apply to the financial institutions and negotiate your home loan on your behalf.
An added bonus is you only need to fill out one application and most of this can be done online. The mortgage originator only requests one relevant set of supporting documentation and everything else is done for you. This allows you time to focus your attention on the type of property you’d like to purchase, while they negotiate the perfect loan to suit your investment requirements.
This makes getting your loan and property so much easier. Here’s what you need to do to get your hands on the best coastal property to secure the best returns!
6 buying tips for a coastal property:
A house situated in close proximity to a beach with a sea view represents a sound investment.
Coastal properties with easy access to amenities, such as schools, hospitals and shopping centres, have quicker turnaround times if you need to sell.
Look for an area that has its own Active Policing Forums. South Coast areas, such as Ramsgate, Southbroom and recently Uvongo, have achieved major successes with keeping their areas virtually crime-free.