Syndicate targets sellers of top Joburg estate homes
The exclusive lifestyle on offer in Blair Atholl in Lanseria has attracted more than just buyers who are looking for secure, upmarket homes according to Glenn Norton, Broker/Owner of RE/MAX Masters, who says there has been a syndicate operating in the area and the surrounds, which has portrayed themselves as serious buyers with the objective of gaining occupation of exclusive estate homes.
“Once a buyer has gained occupation of a property it can be a lengthy and expensive legal battle to have them removed, even if they have not made any of the promised payments that they said would be made,” says Norton.
5 things to consider before buying investment property
Buying an investment home is a big expense and commitment. You need to make sure that you know as much about the property and the local market as possible before taking such a big step according to Justin Easthorpe, ooba Regional Sales Manager, who says there are a few considerations to bear in mind when you are investigating purchasing an investment property.
He suggests asking yourself or your estate agent the following questions:
1. Why are you buying the property?
It’s important to understand exactly what you are buying the property for, as this will affect the decisions you make.
South Africans borrowing less recklessly bodes well
Estate agency principals tend to consult different authorities when looking ahead and mapping out the future of their organisations. Most, however, agree that the South African consumers’ credit status will be amongst the more important data they always consult according to Bill Rawson, chairman of the Rawson Property Group, who says in recent years, they have regularly called for South African consumers to adopt more responsible, less 'instant gratification' spending habits.
Now, he says, the latest July FNB Consumer Banking Barometer has come up with evidence that the South African consumer is adopting a less impetuous, more long-term and considered approach to his and her finances, and this augers well for the South African housing sector.
4 affordable eco friendly braai gadgets
There isn’t a South African in the land who doesn’t love a good ol’ fashioned braai. The sharp smell of blitz coupled with the soft crackling of kindle as the scent of fire wafts into the air, smiles blooming as it does.
On 24 September, South Africans across the nation will be celebrating Heritage Day, which is also known as National Braai Day. Although the food on the day will be as unique and diverse as our heritage, every South African should agree to take care of the environment.
To help you do that, Sustainable.co.za has put together a list of eco-friendly braai alternatives for Heritage Day.
3 things you need to know before buying vacant land
Prospective buyers of vacant land for commercial or industrial property development often underestimate the true time and capital requirements involved according to Lloyd Nussey from Baker Street Properties, who identifies three main aspects for prospective buyers to consider:
1. Cash is King
To be eligible to buy vacant land, major banks and financial institutions typically require that the entire property be paid cash, and if not, a significant portion thereof.
The reality is that banks are generally quite reluctant to grant 100% bonds on vacant land, and furthermore considering the cash flow dynamic involved, Nussey says the prospective investor needs to be reasonably “financially sound” before considering buying land for further development.
Best advice and tips for aspiring landlords
If handled in the correct manner, owning a rental portfolio can be a highly rewarding experience according to Annie van den Berg, Broker/Owner of RE/MAX Wildlife Properties, whose office is based in Hoedspruit Limpopo. She says, however, not every property investor necessarily wants to be a landlord. “While many investors may want to own a rental portfolio, it doesn’t always mean that they have the time or resources to effectively manage their rental properties.
Property investors will soon realise that there is a learning curve to becoming a successful landlord,” says Van den Berg.