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Property 24/10 - 377

26 October 2017

Why should you adhere to sectional title ‘appearance’ rules?
Homes in community housing schemes such as estates and cluster home complexes are generally sold at a premium, so buyers in these schemes are often confused and annoyed to find that they don’t have much “freedom of choice” when it comes to the exterior appearance of their properties.

However, Gerhard Kotzé, MD of the RealNet estate agency group, says one of the main duties of the homeowners’ association (HOA) in an estate or cluster development is to maintain the value of all the homes in that development, “and one of the ways to do that is to strictly apply a set of ‘appearance rules’ in order to maintain a homogenous appearance throughout”.

“A haphazard mixture of garden walls and fences, trellises, carports, sheds, external light fittings, security gates, plant pots and paint colours in a single development can easily deter potential buyers and play havoc with property values,” says Kotzé.
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The 10 most expensive suburbs and streets for apartments in SA
Latest New World Wealth research for the third quarter of 2017 shows that Cape Town still dominates when it comes to where wealthy people are prepared to pay the most for residential property.

The South Africa Wealth Report lists the most expensive streets, suburbs and towns in SA, as well as the fastest growing suburbs around the country.

There are two ways to best determine the exclusivity of a suburb. These are by using the price per square metre, which is internationally considered to be the best way, or by looking at the number of R20 million homes in an area, which indicates how many wealthy people are living in a suburb, says Andrew Amoils from New World Wealth.
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SA home buyers value green features that save money on bills
South Africa’s residential sector is embracing green, with new builds and existing stock the focus of a domestic market that already has the highest percentage of green building projects currently underway.

Speaking at the Green Building Council South Africa’s (GBCSA) 10th annual Green Building Convention 2017 conference held at Century City in Cape Town, Sandra Gordon, senior research and market analyst at Pam Golding Properties, says the transition to green building practices in the local residential market is further encouraged by young first-time buyers who, with limited spending power, appreciate the value offered by green homes.

She explains the current trends that will ensure the growth of green building from commercial to residential property sectors.
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What you need to consider when buying a stand
How important is the stand on which a house is built? One might assume, taking location into account, that the bigger the stand the more the buyer would pay for it - but that is actually not always the case.

“Depending on buyer requirements and lifestyles, the ‘usability’ of a stand - sometimes also called a plot or an erf - frequently outweighs the importance of its size when it comes to calculating its value,” says Gerhard Kotzé, MD of the RealNet estate agency group.

“For example, a house situated on a large piece of property that is on a very steep hillside might have less appeal and also sell for less than a similar house on a smaller, level stand if what most buyers in that area want is space for outdoor entertaining, children, pets or gardening.”
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