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Property 24/10 - 311

7 July 2016

Love old homes? Buying heritage property in Cape Town
As the oldest city in South Africa, Cape Town’s architecture is a testament to its many and varied influences. Buyers in search of a home reflecting a past era can acquire residences varying from thatched and gabled Cape Dutch houses to the central city’s ornate, organic forms of Art Nouveau and the stark, geometric lines of the Modernist Movement.

“Whether bought fully-renovated or still in need of some love and care, the romance and emotional pull of an older home holds enormous appeal for many,” says Richard Day, Pam Golding Properties National General Manager.

However, Day says potential investors should work with an experienced estate agent to ensure they are fully informed of the possible property requirements - from Council paperwork to specialist building contractors.
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Urban vs suburban living: Which is cheapest?
Most people believe it is cheaper to live in the suburbs than in the city, but this is actually not always true. It very much depends on which suburb you choose, what type of home you buy and what sort of lifestyle you are looking for, says David Jacobs, Northern Region and KZN Manager for the Rawson Property Group.

“Purchase an apartment within walking distance of the Sandton commercial centre in Sandown, for example, and you can expect to pay an average of R2.2 million, which translates into a monthly bond repayment of around R17 600 after you’ve paid a 20% deposit,” says Jacobs.

“Your transport costs will be negligible if you can walk to work, and just about everywhere else you want to go, but property rates, utilities and your sectional title levy will add another R25 00 to R3 000 to your monthly accommodation expenses, bringing the total to at least R20 100.”
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Growthpoint CEO receives Sapoa lifetime achievement award
Growthpoint Properties CEO Norbert Sasse has been presented with the inaugural South African Property Owners Association’s (SAPOA) Lifetime Achievement Award.

This first-ever award was announced at the milestone 50th Anniversary Convention of the South African Property Owners Association (SAPOA), held in Sandton Central, last week.

The new accolade recognises and celebrates the exceptional contributions made by an individual who has changed the face of the South African property sector.
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Sectional title property insurance claims explained
Despite winter only just setting in, Cape Town has already experienced heavy rain storms which have left houses across the city flooded, damaging roofs and windows extensively.

Carl Smit, Managing Director of Sandak-Lewin Property Trust, says that as extreme winter weather conditions usually result in an increase in property damages, homeowners need to ensure that their insurance policies are up-to-date should the need to claim for weather-related damages arise.

According to Smit, for those living in sectional title schemes, it can be assumed that the body corporate will have adequate insurance cover against weather-related damage to the building.

However, he says that individual unit owners need to properly understand what exactly is covered within the body corporate’s policy, as well as know how to claim for related damages should the need arise.
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Easy DIY home staging tips for sellers
For many, selling their home means starting a new and exciting chapter in their lives. While preparing for this next chapter, it is important to prepare the current home for listing to ensure that it stands out from the crowd while on the on market.

Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, says preparation is a key element to guaranteeing that the home is sold for the best possible price within the shortest time frame.

He says there are a few tips that homeowners could utilise to give them the edge over the competition.
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What 'permission' to credit check means for a tenant
Tenants may not realise that by giving an estate agent or landlord permission to do a credit check on them before signing a lease, they are effectively giving that agent or landlord permission to re-check their credit score any time during the lease period.

Natalie Muller, Regional Head of Rentals at Jawitz Properties, Western Cape, says just paying your rent is apparently not enough of a guarantee that you can afford to rent where you live.

“If you miss a payment on other accounts, it can be seen on your credit record, and may be a red flag against you when it comes to renewing your lease,” says Muller.
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