Property 24/10 - 325

Property.CoZa expands to the Atlantic seaboard
Property.CoZa is now operating along Cape Town’s exclusive Atlantic Seaboard, where financially-savvy residents are in control of their financial futures and investment opportunities.

Gustav Kruger, Chief Executive Officer and co-founder of Property.CoZa, says property investors in this part of the city are astute, and know what they want well ahead of trends and buying curves.

“Property.CoZa is an alternative to ‘traditional’ real estate companies because our innovations allow buyers and sellers to be more proactive in transactions, as well as monitor them in real time - with access to expert guidance when they need it most,” says Kruger.

Guide to the new Sectional Titles Act must-do's for next 90 days
The new Community Schemes Ombud Service Act (CSOSA) and the Sectional Titles Schemes Management Act (STSMA) have become effective as of 7 October 2016, and there are certain things that trustees of sectional title schemes, share block schemes or homeowners’ associations will need to do within the next 90 days.

“We have compiled a simple list of what needs to be done so that these tasks do not seem overwhelming, nor anything gets forgotten,” says Michael Bauer, general manager of property management company IHFM.

The step-by-step guide:

'Country life' attracting more urban dwellers in SA
There’s a growing trend worldwide for couples and families to ditch the city lifestyle for something a little less fraught, and among them are the “greenshifters” - those who not only want to move to the country, but also to give up urban life altogether and work on their own smallholdings.

“We’re noticing more and more couples aged 40 and over with small families and above-average incomes looking to invest in smallholdings,” says Charlotte Vermaak, principal of Chas Everitt Nelson Mandela Bay. “They've reached a stage in life where they no longer want the stress of city living.”

However, she says making a move from suburbia to the countryside isn’t always easy.

Sell privately or use an estate agent?
In an attempt to cut down on costs, some sellers might be contemplating listing their homes without the services of a real estate professional. Although it may seem like a great way to reduce costs and avoid paying an agent’s commission, it also means that sellers will have to do all the work themselves.

“At first glance, selling a property privately may appear to be an easy process of just listing the home online and waiting for a potential buyer to come calling, but there is a reason that only 5% of South African homeowners decide to take this route. Apart from the convenience of leaving it to a professional, an estate agent brings several other crucial values to the table,” says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.

What to consider when buying retirement property
For many homeowners, retirement signifies the start of downscaling to a smaller apartment or townhouse. This transition not only allows for living expenses to be reduced and safety and convenience to be improved, but also provides the opportunity to be a part of a community in one’s later years.

Wilma Vorster, Estate Agent at Knight Frank Residential South Africa, says there are two very important factors when planning to move to a smaller home or retirement complex: what you can afford and what the area you are relocating to has to offer.

“If you are contemplating moving to a retirement village, it is imperative that you look at amenities such as frail care and security, as these are of high priority later in one’s life,” says Vorster

Four potential pitfalls after signing an Offer to Purchase
Putting in an offer to purchase (OTP) and having it accepted by the seller is a great feeling, but this doesn’t mean that the deal is complete and the house is yours.

According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, there are still a few more hurdles that need to be dealt with between the time the offer is accepted and the keys to the front door are handed over.

Not being able to overcome any one of them could result in the deal falling through and the buyer having to start the house search over again.

“Knowing what the possible hurdles are and how to prepare for them will put buyers in good stead when going through the home-buying procedure,” says Goslett. “Understanding what problems could arise during the process will allow buyers to either prevent the issue or mitigate it to some extent.”

Goslett discusses possible problems:

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