Property investor Dave Welmans, says that unless you are a professional investor or an avaricious pop star, purchasing a property may be the biggest investment you ever make, so you need to get it right.

Buying the wrong property and then being forced to sell it is an expensive exercise. Welmans says you should look at least five to seven years down the road when buying a home, because selling it in a shorter time frame, may cost you a small fortune.

Let’s say that you purchase a two-bedroomed modern townhouse for R300 000, but decide a year or two later that you need another bedroom to accommodate the needs of an aging parent. If you need to sell and purchase a larger property for the same price, it could cost you around R65 000 in transfer costs and agency fees.

That is assuming that you have the money to spend in the first place. Most people could not come up with the funds to move quickly and end up having to live with their mistake. Your decision is a long term one, so take some time to consider all the pros and cons.

Here are the factors that Welmans says are vital to consider:

Schools
Even if you do not have children it is a good idea to locate a property near a good school district. There are two reasons for this. Firstly, if you are married and children arrive down the track, being close to good schools means that you do not have to travel three days by camel to get them there. The second is that in terms of resale value, being close to good schools is a plus. If you have older kids, then proximity to universities and colleges is also an important consideration.

Work
A rambling house in the country may be very appealing, but if it means that you have to travel for a few hours a day to get to work it could soon lose its appeal. Before you sign on the dotted line, do a feasibility study. Work out how much it will cost you in petrol, car maintenance and time.

If you are the type of person that gets stressed in traffic, you should rather concentrate on finding a home close to where you work. If you are self-employed, chances are you will be working weekends. Being close to home means less time away from your family. You could also consider purchasing a home that has an office, as this will save you time, energy and money.

Amenities
If you are used to living in a town or city with plenty of amenities you may overlook the fact that moving to a rural area may mean that the nearest Woolies is too far away for comfort. Living on a plot or in a development that is far away from a town needs careful consideration. If you are organised and remember to stock up on household supplies, being an hour away from a convenience store is fine.

Medical services
If you do decide to live in a rural area find out where the critical services, such as hospitals, police and fire stations, are. If you or a family member has a chronic illness, or requires regular medical attention, driving for extended periods to get to the nearest hospital or clinic is not an option.

Relatives
Many individuals take for granted the benefits of having relatives close by. If you retire to a house at the coast and leave family members behind you may miss them more than you anticipated. Make sure that when you move you consider the consequences of not having relatives close by, especially if you have young children, or are older and need assistance from your family.

Also take the time to discuss the move with older children that are still living at home. Taking teenagers out of a familiar school and environment can often cause stress and huge resentment on their part. You may love your new home that’s 'away from it all', but if it is filled with grumpy, bored teenagers you will wish you had never moved.

Desirability
Ask any estate agent what they think is the most important criteria to consider when buying a home and they will recite the 'location, location, location' cliché.

Features of a well-located house are easy to spot. If your home overlooks a serene lake on a wooded hill chances are it will be desirable, but a view of chimneystacks may put prospective buyers off. We often make the mistake of falling in love with one desirable feature of a home without thinking about potential negatives. Make sure your judgement is not clouded by a new kitchen or manicured garden. You can make some improvements but an ugly view will always be an ugly view.

Security
Unfortunately this will always be a concern. Generally speaking, cluster-style developments offer better security than freestanding homes or plots. If you are frequently alone at home or you are nervous about your security, stick to a high security environment.

Accessibility
Traffic is a common problem, but choosing wisely will save you hours in traffic. Check the traffic flow in an area as some areas have significantly more congestion than others.

Welmans says that if you follow these guidelines your home will provide you with good growth potential, and a lifestyle that you will enjoy for years to come.