Weekend Argus (Saturday Edition)
360 AREA DETERMINES PRICE
It’s all a matter of location, location, location when it comes to buying property. If you want something in an utterly desirable area, it’s going to cost you. A relatively small budget could get you a small flat in a great area or a decent house and gard
KNOWING how much you are able to spend on a new property is the first step in the house-hunting process but where you want to buy will determine what your money will get you.
A property’s value is dictated by how much a buyer is willing to pay for it. If it is in a popular area with high demand, you will get less property for your money.
An area that is not as sought after, and perhaps not ideally situated in relation to work, school and recreational facilities, will allow you to buy more property for your buck. Of course, what you gain in physical space could be lost in convenience and future value.
If you have a budget of R1.5 million, this is what you could buy in the following areas:
WESTERN CAPE Atlantic Seaboard
R1.5M WILL get you a “nice-sized studio apartment” or, if there is a highly motivated seller, possibly a one-bedroom unit, says
Lolly Unterslak, property consultant at Jawitz Properties Atlantic Seaboard.
“At that level, you would probably have to renovate the one-bed and it may not have allocated parking. You’re unlikely to get a property with views at this price.”
A spacious studio apartment in a desirable block in Green Point, with 24-hour security, pool and communal gardens, sells for R1.599m.
A 25m² property in The Ivory is on the market for R1.45m, including transfer duty, through Dogon Group Properties. Agent Paul Upton says a further R25 000 will get you a scooter parking bay while a basement parking bay will cost an extra R350 000. Private storerooms start from R75 000.
In Green Point, Dogon’s Alison Rob says there is a 25m² micro unit in Greenpark available for R1.3m, excluding transfer duty. It has great views but would need minor renovations to modernise it. A further R150 000 will get you a private parking bay.
City Bowl
THE GREATER City Bowl area includes Woodstock, Zonnebloem, Vredehoek, Oranjezicht, Tamboerskloof, Gardens, Higgovale and the city centre, says Dogon sales agent Byron Kruger.
While some parts of the city centre can be noisy and congested, they are close to amenities and for R1.5m you can buy a one-bedroom, renovated apartment or a two-bedroom, unrenovated apartment.
You could also get a new two-bedroom apartment or an unrenovated freestanding cottage in Zonnebloem or a one-bedroom apartment in Gardens, he says.
Darice Loeb, property consultant at Jawitz Properties City Bowl, says: “You could purchase a studio apartment under 50m² in the area for around R1.5m while in Woodstock you could buy a one- or an older two-bedroom flat.
While Upper Woodstock is slightly further away from the city and beaches, Kruger says there is the opportunity to add value.
“You also get a bigger home that is still close to artisanal coffee shops and restaurants.”
For R1.5m you can get a new studio apartment in Upper Woodstock or an unrenovated cottage in Lower Woodstock.
Salt River and Woodstock offer proximity to the CBD and Atlantic seaboard but property is more accessibly priced, says Craig Algie, an agent with Seeff Southern Suburbs. For R1.35m you can get an older semi-detached cottage with two bedrooms, a courtyard and great features, ready for upgrading.
Southern Suburbs
IF YOU are happy with a sectional title property you should find a home in almost all of its suburbs for R1.5m, says Claude
McKirby, co-principal of Lew Geffen, Sotheby’s International Realty in the area.
“However what you find for this price will depend on the suburb. In Rondebosch, Claremont and Newlands you will obviously get much less for the same price than in Kenilworth, Plumstead and Wynberg.”
In the less expensive suburbs, you might find bigger apartments with a possibility of a garage or parking bay, whereas in the higher-priced suburbs you will find smaller apartments, with a parking bay if you are lucky.
In Kenilworth you could buy a two-bedroom, one-bathroom maisonette in a secure complex for R1.3m, and in Kenilworth Upper a modern one-bedroom apartment in a complexes like Three Fountains, for R1.495m or, “if you’re very lucky”, for R1.395m.
James Lewis, managing director for Seeff Southern Suburbs, says Kenilworth is one of the most affordable suburbs in the area, so R1.5m will buy you a property but there is not much available for that price.
Northern Suburbs
PROPERTIES in the northern suburbs are bigger and offer more garden space than properties closer to the city. Caron Leslie, broker/owner of Re/Max Property Associates in the area, says it has “excellent schools” and many major shopping centres close by.
“It is easy to jump on to the highway to head in any direction. There are also many commercial nodes for offices and companies. The area is popular with various age groups as these are mainly family areas but also suit retirees.”
Properties in Brackenfell are mostly apartments, with a few freestanding houses.
Jason Thiart, an agent at Rawson Property Group, says a three-bedroom property with two bathrooms and two garages is on offer for R1.499m. It also offers parking for three cars, a pool, a braai area and staff accommodation.
In Tyger Waterfront (Bellville), Seeff agent Anéne Botha says R1.5m can get you an apartment with two bedrooms, one bathroom, and one or two secure parking bays
Winelands
WITH R1.5m, it’s not easy to find a property in the Winelands, says Chris Cilliers, chief executive and co-principal for Lew Geffen Sotheby’s International Realty in the area. In Stellenbosch, for example, there are mainly student flats on the outskirts of town with a few two-bedroom town houses outside the town.
In Paarl finding R1.5m properties is also a challenge but several new developments are offering good value at this price.
“Northern Paarl sometimes has older threebedroom homes in this price class but generally you are looking at new builds in developments. These could have two or three bedrooms.”
Linda le Roux and Marilize de Beer of the Seeff Property group say R1.5m can get you a duplex or townhouse with two bedrooms and one or two bathrooms in a complex such as Wellington Mews, Bainsvallei, Versailles Village and Les Huguenot.
Nelia Retief, an agent with Seeff Tulbagh, says R950 000 will get you a cute two-bed duplex cottage on a 388m² plot in the old part of town.
“There is no garage or garden, though, and the house can do with a little renovation, but it is a real little gem.”
For R1.25m you can buy a compact family house with three bedrooms, two bathrooms, a granny flat and a single garage with a garden.
Hermanus
HERMANUS is made up of a few suburbs that offer a variety of affordable homes. Johann Larney, broker/owner of Re/Max Town and Country, says Sandbaai, one of the most popular suburbs has the largest number of such properties, ranging from free-standing shore-line villas to two-bedroom units in security estates.
The eastern side of Sandbaai contains the industrial area and properties here are priced slightly lower, while the western end is chiefly residential and consists of both free-standing homes and numerous estates. Plot sizes vary significantly. Within the estates, plots are sized from 195m² up to around 600m², while standalone plots are usually from 600m² upwards and priced from R500 000 upwards. Houses, both stand-alone and within estates, are usually between R900 000 to around R3m.
Neighbouring Benguela Cove, Fisherhaven, is a small suburb on the the Bot Lagoon and a property on the market here is selling for R1.475m. However, it needs TLC, Larney says.
You could also buy a two-bedroom apartment or house in Hermanus, says the Seeff Property Group.
Khayelitsha
WITH R1.5m you could buy a property in the most affluent section of Khayelitsha, says Fernando Antonio, founder and chief executive of Zakasi. This includes Ilitha Park, Graceland and Thembani.
“You can expect to get a home with three or more bedrooms, a huge garage and yard. In addition, some internal features would include two bathrooms – one of which would be en suite, a beautiful kitchen that is fully built-in and tiled throughout, lounge and dining room.”
Not only will such a property be “very secure” with alarm systems but it could have two or more outside rooms.
“The benefits of living in the area would include the amenities, such as close proximity to the Khayelitsha Mall; petrol stations; train and bus stations, as well as easy accessibility to the N2, food outlets and other entertainment facilities,” he says.