Extended families all on one property - Market News, News
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13 Oct 2010

Extended Families All On One Property

The decline in property sales countrywide has led to more families living on shared properties with, for instance, the parents living in the main house and their grown offspring living in a cottage on the same property.

“This is quite a common trend in KwaZulu-Natal where properties are being sectionalised so that they can be developed into more homes or units or can be split off into separate tracts of land,” says Tony Hickman, managing director of Seeff Westville.

He says that one such property was The Grisdales in Ferndale Avenue.

“This was owned by Dr Grisdale and his wife for more than 30 years,” says Hickman. “They lived in the extensive main house but built another house on the property for their son Harry,” he says.

The property could have been sub-divided and then sold as two separate homes but a buyer decided that it would be a good idea to buy the entire property for R3,5-million, paying R2,1-million for the main house and R1,4-million for the second property.

Hickman says the double-storey main house is set on 7 014 sq m of land, has five bedrooms, four bathrooms, two lounges, two dining rooms, a large swimming pool, plenty of parking and an enormous kitchen.

The smaller home is a low-maintenance face brick house of 208 sq m with four bedrooms, two bathrooms, staff accommodation, two lounges, a modern kitchen with laundry and scullery, a solar water heater and gas stove.

Hickman says that Seeff is selling another property near Westwood Mall that is set on 5 247 sq m and has been rezoned for 16 flats in two blocks on the property while keeping the existing house.

“Properties like this are a great investment particularly if they are in a central position, close to schools, shops and other amenities. Small complexes built on large pieces of land are more secure than stand-alone homes and offer the added benefit of having the family care for elderly family members such as the surviving parents.

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About the Author
Paddy Hartdegen

Paddy Hartdegen

Freelance columnist at property24.com.

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