Whether you’re a first-time homebuyer or an experienced property investor, the process of buying a new property can be full of challenges. From finding a suitable property, to delays in the buying process and confusion over paperwork; not to mention structural issues, sellers getting cold feet or even the stress of completion day - there are so many pitfalls in the property market that an experienced guide can help you avoid.
At Jossour, we understand the importance of a smooth and successful property transaction and our team of experienced professionals are here to attentively advise & support you with achieving your property goals.
Buying property can be a complicated and intimidating process, especially for those who are new to the market, so it’s essential that those entering the property market be aware of the potential risks associated with this kind of investment. Here we'll discuss the pitfalls of the property market, and offer advice for new buyers too. We hope this information will be a valuable resource for those taking their first steps into the real estate industry…
Consulting with a professional property expert.
One of the biggest risks associated with buying property is the potential for financial loss. This can occur if the value of the property decreases, or if the buyer is unable to sell the property for a profit. There are a number of factors that can affect property values, including the health of the economy, how desirable the area is, interest rates, inflation and population growth, so it’s vital to do your research and consult with a professional before making any decisions - or even more ideally, partner with a “Property Portfolio Partner” at Jossour so you can make every real estate decision with the utmost confidence.
Another risk to consider is the possibility of fraudulent activity. This can take many forms, from false advertising to misrepresentation of the property itself, which is far more common than you might initially realise. It’s important to be wary of any red flags that may arise during the course of your research or negotiations & if something doesn't seem right, it's always best to err on the side of caution and simply walk away.
Choosing your property investments with confidence.
Finally, it's important to remember that buying property is a major commitment, because once the purchase is complete, you’ll also be responsible for annual property taxes, as well as the monthly fees for the upkeep and maintenance of the property, which scales with the built-up area and whether you have a pool, at least in El Gouna, Somabay & Makadi Heights. This can be a costly expense on an annual basis, so be sure that you’re certain that these fees are acceptable before making any buying decisions.
Whether you’re looking to buy your first home, invest in a buy-to-let property or even sell your current property, we can help you. Our experienced team at Jossour will guide you through every step of the process, ensuring a smooth and successful completion of your deal.
So if you’re looking to buy or sell a property, or even want to have your overall portfolio of properties overseen by experts, get in touch with us today and let us take the stress out of real estate investing!
Create your free residence account now!
To learn more about the buying process, you’re welcome to create your free residence account online, where you’ll find lots of tips and information to shed light on the buyer’s process which will help you with understanding & avoiding so many common issues:
👉 https://www.jossour.com.eg/residence
