Property 24/10 - 342

Cape Town's former 'slums' now desirable addresses
Massive investment in property regeneration is rapidly transforming the urban landscape of the Atlantic Seaboard between Sea Point and the Mother City's CBD.

This is according to Chad Shapiro, Senior Commercial Broker for Lew Geffen Sotheby’s International Realty in the CBD, City Bowl and on the Atlantic Seaboard, who says after years of decay and stagnation, this formerly vibrant strip is poised to once again become one of Cape Town’s most significant residential and commercial hubs.

“Cape Town’s expanding population and escalating traffic congestion between the city and suburbs during peak hours is driving the demand for living space close to the city,” says Shapiro.

New STSMA stipulates 17 more instances for special resolutions
Now that the new Sectional Title Schemes Management Act has come into force (as of7 October 2016), trustees should take note of what aspects of the scheme’s management requires a special resolution by the members, as it does take more planning and organisation to get these passed at the annual general meeting.

This is according to Mandi Hanekom, operations manager of sectional title finance company Propell, who says certain decisions that trustees were able to take on their own now require a special resolution by the members authorising the trustees to take the decision in question.

In terms of the STSMA, special resolutions by members are required by the body corporate in these instances:

Don't miss the Homemakers Expo in Joburg from 23 Feb
From 23 to 26 February, the Johannesburg Homemakers Expo will be taking place at the Ticketpro Dome in Northriding Johannesburg.

Operating under the theme ‘A Tribute to Your Home’, the expo promises to offer practical house and gardening advice and ideas that you can implement in your own home.

Here’s what you can expect…

Property insurance must-knows vital for all homeowners
For most of us, our homes are the largest and most valuable assets we will ever have. The fact that it might be damaged or destroyed is an inevitable risk, and one that we need to guard against.

For this reason, Richard Gray, Harcourts Africa Chief Executive Officer, says getting the right insurance is a facet of the property business that can never be overemphasised.

“Insuring a home is often seen as a necessary hassle, invariably required when taking out a home loan. Home buyers, and especially first-timers, will sign the necessary forms, make the required payments and move on to more exciting things, like interior decorating and laying out a new garden,” says Gray.

Should you pay extra money into your home loan?
With savings rates at rock-bottom, overpaying on your bond is often a no-brainer. And for many it is - there’s the potential to save a huge amount, even if you can afford an extra R100 a month.

“If you get it right, paying more into your bond can be a huge cash boost,” says Charlotte Vermaak, principal of Chas Everitt Nelson Mandela Bay.

“You’ll eat into the debt you've built up from buying a home, meaning you pay it off quicker, you don't pay interest on the amount you have paid into your bond, and the money you'd save on interest often beats the returns possible by putting it in savings, given savings rates are currently so pitiful.”

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