Everybody loves to have a fancy lifestyle. It is obviously not a crime. It is actually a good characteristic as it increases the quality of life and enjoyment with an overall positive impact in increased performance and development of Batswana as a people and Botswana as a nation.
Lets discuss the factors to consider when looking for a comfortable and high valued home to buy. Apart from comfort, you also need to be trained how to make sound investments decisions stemming from the view that homes are not only for occupation, but also serve as a real estate investment that can be in future converted into cash or be used for income generation.
Location is one of the most important factors that affect property value.
Two identical buildings in Phakalane Golf Estate and Old Naledi can be built at the same cost but will surely have different values soon after completion. The building in Phakalane Gold Estate will fetch a very high value while the one in Old Naledi will be low. This is as a result of location. The location of the property affects one’s buying decision. If the property is in a prime location, it is expected to pay a higher price. Factors that affect the value within a specific location are the prices of the recently sold properties within the area and the community. Also, if there are schools in close proximity to the location, the quality of these schools will have an impact on its value. Potential home buyers care about the community in the area. If they feel the community has strong ties and is pleasant, this can help. Also, bear in mind that properties located in rural areas cost less than those in the business district. In pursuit of comfortable housing, it is therefore beneficial for Batswana to make educated decisions after appreciating the location of the property they want to buy.
Proximity to local transport is again another important factor that affect how much a house is priced at.
Local transport include the popular combis or taxi. Occupants in an ordinary Motswana home are usually children of school going age. These normally require transport on a daily basis to their usual respective destination. It is cheaper to depend on public transport as compared to using own transport. Carbon foot print and emission decreases as well when citizens depend on public transport. For these reasons, an average family finds themselves relying on local public transport. One ought to ascertain the proximity of public services before rushing to commit as these are services that make it easy for a family to be connected to various destinations within the community. Properties near bus and train stations, as well as those near supermarkets, parks and hospitals are preferred by more buyers causing sellers to demand higher prices for them.
The architectural design and size of the property is also an important factor to consider before investing in a property. The larger the property area and the home, the more expensive a house can be. If a house has several bedrooms, it is more likely to sell for a higher price as opposed to one with just one bedroom. In some cases, a house with fewer bedrooms but large ones can be more appealing than a house with many but smaller bedrooms. The layout of the house has an impact on the value of the property too. An open layout with less walls and partitions, looks more spacious and this illusion can convince a buyer to pay more. It is also important for one to carefully study the intended occupants and decide a particular option to take.
The useful life of a building can be 50 years. With timeous maintenance and structural attention, a building can surpass the average useful life. Age of a building can also determine the value of property. Wise real estate investors consider the remaining useful life of the property before committing any resources on it. Normally, the newer the home, the higher the price will be simply because the structure is almost new and no major repairs and renovations are needed however there are homes that have been built decades ago and are still worth far more than the modern homes. These are old homes that have historical significance and have been well-maintained. An ordinary Motswana need to be well informed in the restrictions when one decide to buy a historical building which is protected by planning laws.
Other important factors that Motswana should consider include condition of the property. The condition of a home matters and will definitely increase or decrease its price. Further a kerb appeal is also important to consider before buying a property. The outer appearance of a home or its “kerb appeal” is also one of the factors that can help determine the price of a property. Views are another aspect potential buyers should consider when looking for a property to buy. The view one will see when they look out of the window. A home with a seaside view can demand for a much heftier price than one with a blocked view. Though we do not have a sea in Botswana, views are enticing to buyers. A Motswana should look out in the window checking for scenic view as they can find refreshing views. When impressed one can consider investing. One must have a list of the things they prioritize on a residential property. A suitable factor to include can be a view.
Finally buying a property in a hub that has much economic activities can increase the value of one’s investment. One should investigate the economic activities in a location they want to purchase. When the economic activity is high with workers earning good wages, compensation increase and the buying power of consumers becomes strong. Also the emotional attachments of the previous owner should be established. Depending with one’s respective culture for example ‘Batlokwa practice a culture of burying their dead in a house’, one might not be comfortable occupying a house with a grave inside. It is therefore important that one carries a physical inspection of the property they want to purchase and investigate on whether old occupants had some attachments on the property.
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