Sub­di­vi­sion costs must be stip­u­lated

Business Day - Home Front - - HOMEFRONT -

WARN­ING More home own­ers with large stands are sell­ing parts of their prop­erty to re­duce their home loans, achieve greater se­cu­rity and lower their main­te­nance costs and prop­erty rates, and the trend is be­ing fu­elled by lo­cal au­thor­i­ties keen on den­si­fi­ca­tion and get­ting bet­ter us­age out of ex­ist­ing in­fra­struc­ture, says Berry Everitt, CEO of the Chas Everitt In­ter­na­tional prop­erty group.

“In ad­di­tion, there is rel­a­tively high de­mand now for empty stands in wellestab­lished sub­urbs from buy­ers who want to build mod­ern homes but still live close to town cen­tres.”

How­ever, to de­rive the most ben­e­fit from such a move sell­ers must en­sure the sale agree­ment specif­i­cally stip­u­lates who is to pay the costs of sub­di­vi­sion, he says.

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