13 Sep 2012
Sectional title properties located within secure estates in some parts of Gauteng are reportedly a popular choice for many home buyers.
De Necker says they have found that many buyers in the area are choosing to invest in sectional title units for a number of reasons.
Firstly, this type of property offers the buyer a greater sense of security that many feel they would not have with a freestanding home.
There is also the aspect of community living that a large number of buyers are looking for, along with the fact that this kind of property is generally more affordable and financially viable for more consumers, he says.
De Necker explains that it is not just the price of the unit that is more affordable than a freestanding home, but the general maintenance and living costs as well.
This is due to the fact that charges for resources such as water and electricity are shared among the residents of the sectional title complex.
“Another aspect that saves the homeowner money is that any maintenance required for the exterior of the unit will be for the body corporate account, while the homeowner is only responsible for the interior of their individual unit,” he says.
According to Adrian Goslett, chief executive officer of RE/MAX of Southern Africa, sectional title units are perfect for first-time buyers or those who do not want a property that requires a lot of maintenance.
However, he says that it is important for all buyers looking to purchase into these kinds of schemes to apply the same golden rules that would to buying any property.
One of which is buying in the right location. The state of the body corporate financials and the way in which the complex is run are also vital elements to consider before buying a sectional title unit, he says.
One such development that RE/MAX All Stars is marketing is called Norton Heights, a sought-after estate in Albemarle, which has just launched its second phase due to its popularity.
The first phase is almost completely sold out.
He notes that the development has 24-hour security and access control and is an ideal lock-up-and-go option.
De Necker says one bedroom units in the complex are perfect for business people around the country who visit Gauteng regularly.
In fact, the developers will give a R50 000 discount to such a person, he says.
Additionally, the unit can be maintained and cleaned regularly at a fee.
Instead of staying at a guesthouse or hotel, business people can put their money towards an asset that will appreciate in value, says de Necker.
He says the units are good value for money, with one bedroom units on sale from R399 500, two bedroom units from R570 000 and three bedroom units priced from R795 000 respectively.
The complex also offers a swimming pool, laundry room and clubhouse.
According to De Necker, sectional title units will continue to be popular among security conscious buyers in the future and provide a good return on investment over the long term.
“Conditions at the moment favour buyers and this type of property provides a low-maintenance, cost-effective option for those wanting to capitalise on the current market conditions,” he adds.
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