The number of people preferring to live in sectional title schemes or HOA-run estates has increased over the years, and this trend looks as if it is set to continue in the years to come.
Hassan says each estate type will have a certain type of person buying into it. For example, the first-time home buyer will have a certain budget and might not have a need for large family-style homes, whereas the 40-something buyer will often want a larger home with a garden and space for his or her children to grow up in.What is important, however, is that these are built with integrity and thought given to who will be living in them in the future, as well as whether they will be able to sustain what the developer has envisaged, says Shiraaz Hassan, commercial director of Asrin Property Developers.
Looking at various statistics released, as well as previous experience, Hassan says there has been a 7% year-on-year increase in the demand for sectional title units, and first-time home buyers are driving this market.
On looking at the average ages of each life stage of home buying, Hassan says it is not often easy to pinpoint why each price category and lifestyle category needs to be assessed when deciding to go ahead with the development of an estate.
The imperative goal, however, is balance. Hassan says this can be achieved by creating a product which is equally popular and price sensitive while mutually benefiting young families, first-time home buyers and older folk reaching retirement.
With the rise in construction of higher density developments as South Africa’s population increases but land availability does not, comes the need to “soften up” the impact of these by adding as much greenery as possible to each in the landscaping and communal areas, says Hassan.
“Adding open space encourages residents of the complexes to engage with each other and not live separate lives,” he says.
Hassan says each estate type will have a certain type of person buying into it.
For example, the first-time home buyer will have a certain budget and might not have a need for large family-style homes, whereas the 40-something buyer will often want a larger home with a garden and space for his or her children to grow up in.
In all instances, buyers are looking for security and lifestyle options such as swimming pools, tennis courts, and other amenities where costs would be shared among the owners. Because living in a freestanding home can be costly, it is easy to understand why buyers opt to live in estates, says Hassan.
“At Nuutgevonden, for instance, the units have been extremely popular with young adults and families alike because of its competitive cost per square metre, as well as the open green spaces and security offered,” says Hassan.“This is why it is imperative to do research when starting a new development, which is what Asrin does before tackling each new project,” he says.
“At Nuutgevonden, for instance, the units have been extremely popular with young adults and families alike because of its competitive cost per square metre, as well as the open green spaces and security offered.”
In addition to this, he says it is in close proximity to the centre of Stellenbosch and the university.
“At Somerset Country Estate, where homes have larger gardens, and larger homes have been built, the buyers have tended to be families and executives who want the quieter lifestyle offered there, with average ages in the 40s. There are now only three homes available in this development,” says Hassan.
Creating successful developments is not purely about constructing units, says Hassan, but rather about the sustainability of the schemes.
Many developers have in the past built sound buildings, but have not succeeded in implementing the correct management procedures to be used after handover to the owners.
The impact that a larger scheme has on the environment, as well as maintaining of all the common areas, will need a plan from specialists in order for them to work in the future, says Hassan.
In addition, he says recommendations from consultants should not merely be submitted with the aim of getting schemes approved, but should rather be used to enhance and improve the area to which it is being brought.
Construction management plans should be implemented, as well as post-construction management guidelines, as these will ensure the upkeep of estates.
“The handover process from developer to managing agent to the trustees and owners should always be a transparent one, and all parties should be engaged in order to understand the plan,” says Hassan.
“This translates to good management, maintenance and upkeep, which in turn contributes to healthy property values.”
