PROPERTY NEWS - There’s a great deal of excellent property for sale in Oudtshoorn at the moment and prices favour the buyer due to years of slower-than-hoped-for growth but South Africa is also prone to unstable market fluctuations. With the recent hikes in VAT and fuel costs adding to the assorted chaos, it’s difficult to know for certain when the best time to invest in real estate might be.

One thing remains certain, even with the ANC’s land reform interests in the agricultural sector, resident property remains one of the most secure forms of investment one can make. The returns on such an investment, however, do not come overnight. Buyers should plan to be in it for the long haul which means utility and maintenance bills as well as insurance premiums.

Many first time buyers only take the deposit and transfer fees into account, which can leave them strapped for cash on a month to month basis when the reality sets in. This is why proper planning is critical. Buyers who already own property can do so with far more confidence though, since they already have a leverageable asset to sell in order to raise the money needed for a comfortable deposit.

First time buyers can avoid circling too close to untenable debt via several means but one of the most effective is to purchase newly developed property with no previous owner. This lets you avoid exorbitant transfer fee costs which could be put towards the deposit instead.

Investing in property is a serious business and should never be entered into with the idea that the home can be sold if the financial strain becomes too much. It's not a short-term investment and you stand a real chance of losing a substantial amount if you sell too soon, but for the savvy investor the current market climate presents significant opportunity.