Weekend Argus (Saturday Edition)
Former renter is now a happy owner
ACCOUNTANT and businesswoman Uviwe Mzilikazi grew up in Ilitha Park in Khayelitsha, but when she went to university and then on to do her articles and started working, she lived in suburbs such as Bryanston in Joburg and Claremont in Cape Town.
“I had always rented but it got to a stage where I knew I had to buy property. I wanted to create a home for my two children.
“The problem was that property was so expensive and these were my options: stay in the suburbs and buy a flat, or buy a house in the townships.
“The house I bought in Khayelitsha is in my mom’s street, six houses from where I grew up, which means it comes with family support.
“Khayelitsha is a fairly new township. In the late 1980s and early 1990s the government began building subsidised houses for teachers, police officers and others. My mom bought here in 1991.”
Mzilikazi obtained her home from a family friend “who I grew up in front of”.
“I bought the house without an agent – it was a private sale. The house was not on the market, but I had inside information that the owner was going through a divorce and wanted to sell. We spoke and agreed on a price.
“I went to all the banks to apply for a bond and chose the one with the lowest interest rate. The transfer went through in December 2014. I was 34 years old and I felt so grown up.
“The owner had an attorney who drew up a sales agreement which I took to the bank for my bond application. The bank gave me a lawyer who helped me deal with the title deeds.
“I bought the house for R500 000 at the time and today it is worth double that. It has two bedrooms and is a corner house. I have redone a few things, including the kitchen.”
The bonus?
“The owner had four flats on the property which I rent out and that covers my bond.”
Mzilikazi married two years ago and has had two more children.
“The money I’m saving is going straight into my childrens’ education, which is what I wanted.” –