Top Four Tips For Purchasing Property In An Estate

The South African estate community has historically been a relatively small and exclusive component of the residential property sector. This, however, is in the process of changing as property data shows that roughly R15 billion worth of estate properties are traded each quarter. The recent surge of activity in the market, especially in the Western Cape, has highlighted the need for more knowledge and awareness amongst prospective buyers of what to look out for when making such a purchase.

At Mzuri we believe that it is essential for prospective buyers to do thorough research on aspects such as the surrounding areas, security and lifestyle amenities, and the property’s potential investment return. These are our top four tips on what to consider when purchasing property in an estate:

Is the estate situated in a desirable area?

Location remains one of the most crucial considerations when buying a property. However, what is important regarding location will often vary from buyer to buyer. For parents and couples planning to start a family in the future, being in the proximity of a good school is often essential. However, this can cause properties near top schools to come at a premium price or be located in very congested areas. In contrast, for nature-lovers or those just looking for slightly less congested roads, a spot further away from the city may be worth the commute. Living in Somerset West does come with a good selection of good schools that are near Mzuri and other estates,

How important is security?



As safety is, unfortunately, a major factor affecting the desirability of many South African cities, estate living is gaining increasing popularity amongst local buyers. While the neighbourhood and surrounding areas are still important, property within a well-run lifestyle estate offers the tightest security features including 24-hour guarding and patrols, high-definition surveillance cameras and electrified perimeter fencing with anti-dig foundations. The most technically advanced estate security systems even have biometric fingerprint access control, so buyers need to be sure of the level of security they are looking for when choosing between estates.

At Mzuri, the latest generation technology will be installed across the security network. The perimeter - secured with electrical fencing and thermal cameras. Both entrances controlled by biometrics, visitor management, and manned security. Management of the security network will be conducted both on and off-site. Each home is to be fitted with an intercom system connected to the onsite control room to assist with rapid response.

Does the estate have good recreational facilities?



Buyers are attracted by the recreational aspects offered by residential estates, such as exercise facilities, communal pools, and even clubhouses. Top developers are also increasingly incorporating lifestyle elements into their estates, such as private lakes and beaches within the perimeters, allowing for water sports and community activities. As these recreational activities will vary across estates, it is essential that prospective buyers find out what is available and whether this suits their current lifestyle.

Mzuri offers the best of indoor and outdoor living. Walking paths and running tracks that meander through the estate, with fitness equipment positioned along the route to challenge all levels. Parks with play areas that are scattered throughout the estate, creating the ideal environment for childhood development through outdoor playtime.  At the heart of Mzuri Estate is the vibrant clubhouse where residents can unwind after work with a series of laps in our 25-metre undercover pool, while your children play safely in the splash pool. A fully equipped gym allows you the opportunity to work out at your convenience.


Will the property be a smart investment?




Regardless of whether the property is being purchased for the buyer to live in or as an investment, it is important to ensure that the estate is financially secure and backed by reliable investors. Finding out who the property developers are, how long the company has been in business for and what kind of track record and credentials the company has is important to ensure that an estate’s future is in good hands – especially when buying off-plan. Similarly, investigate which investment companies are backing the development – these investors essentially make up the financial muscle of the whole operation.

The good news is that estate properties display quite stable performance regardless of the economic climate. Which means that the risk of a property sharply dropping in value is considerably lower when buying in an estate, making it a safer investment during an economic downturn.

The investment strategy put forward to Mzuri’s purchasers is intended to be a simple one. Whether a seasoned investor or a first time home buyer, Mzuri offers an opportunity to invest in one Cape Town’s most sought-after Winelands destinations that are showing an outstanding forecasted return on investment.  Added to this is the underlying promise of strong capital appreciation which has become inherent in the Cape Town market.  Mzuri will not compromise on this promise nor the quality of the product that it aims to deliver.

Comments

Popular posts from this blog

5 Simple Small Garden Ideas

10 Ways Technology Is Changing The Future Of Water