Know your rights as a neighbour
South Africa - Engel & Völkers
If you have nice neighbours you are very lucky, however in reality some are not very pleasant and can make your life miserable at times.
It is worth making the time getting to know those who live next to you, as neighbours can play an important role in our lives and our community, and it's always a good thing to keep in mind that you are a neighbour too.
"Since the beginning of time we have seen countless dramas unfold due to neighbourly disputes and as many estate agents will testify, small problems between neighbouring properties can at times cause larger issues when it comes to the selling or the buying of one of the properties in question", states Craig Hutchison, Engel & Völkers Southern Africa.
With the increasing trend to fit as many houses into developments and gated areas as possible, we are also seeing more instances of larger stands being subdivided and homes being built closer together.
Know your rights
Owning your home can boost your income in retirement
South Africa - IOL
Fully owning your home when you retire not only reduces how much you need to live on, but you can use your property to supplement your income in retirement, according to the 2017 Alexander Forbes Benefits Barometer.
This highlights the importance of buying property early in life and being able to manage the costs associated with homeownership.
Research by Statistics South Africa shows that South Africans spend about one-third of their income on accommodation. Although this includes paying for utilities, most of it is spent on mortgage bond repayments or rent.
Alexander Forbes says there is a need to change mindsets and provide crucial information to encourage more people to buy their homes.
Positive economic indicators could trigger a property market turnaround
South Africa - Rawson
Statistics released by Statistics SA on 5 September 2017 have revealed that South Africa is officially no longer in recession. The announcement of a 2.5% annualised economic expansion during the second quarter of this year joins other positive indicators including a decrease in Consumer Price Inflation (CPI) and a drop in the repo rate.
While consumers may be hard pressed to spot any immediate effects in their bottom line, Bill Rawson, Chairman of the Rawson Property Group, says this combination of economic factors could have a very positive effect on property market activity.
“It’s early days, and too soon to make any definitive claims,” he says, “but this may be the first step towards a turnaround in the national property market. The industry has had a tough couple of years with a nationwide market contraction, but economic growth and increased consumer spending power could be enough to boost the market upwards again.”
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