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CityPress - - Opportuniy Index - YVONNE GRIM­BEEK projects@city­press.co.za Van Driel: Maseko:

ead­ers Bongani Maseko and MJ van Driel want to buy houses in a se­cu­rity es­tate, but are not sure if this is a good idea.

“In the next 12 months or so, I am plan­ning to in­vest in a prop­erty. I have not yet de­cided whether to buy in a com­plex or get a free­stand­ing house. I spend one or two week­ends out of town, and se­cu­rity is my main con­cern. Would buy­ing in a com­plex be ad­vis­able? If I buy in a com­plex, what are the costs to be con­sid­ered?”

“We rent, and the daily com­mute dur­ing peak hour takes an hour and a half one way. We’ve de­cided to rather pur­chase a small, two-bed­room unit in a se­cure com­plex that is 15 min­utes from work. Dur­ing my re­search, it has be­come ap­par­ent that the body cor­po­rate is op­er­at­ing at a deficit.

“The banks will only give me a 70% bond. The unit has been on the mar­ket for eight months. We want to make a cash of­fer of 80% of the ask­ing price. Is it a good idea to pur­chase the unit if the body cor­po­rate is op­er­at­ing at a deficit, and what are the con­se­quences?”

Wimpie Pot­gi­eter

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