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Be aware of potential price decline of your home

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Cape Town - It is crucial that property purchasers get the buying price right so as not to financially over-commit, according to John Loos, household and property sector strategist at FNB.

This financial over-commitment can result from a lack of good research regarding prices in an area and not having a good understanding of the many home running-related costs.

"Although in the majority of cases the resale price is higher than the original purchase price, we cannot entirely take it for granted that this will always be the case," said Loos.

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