On the road to property ownership: Tick off this list before you buy
Category Advice
Beyond the aesthetics, there are a few other factors to be considered when purchasing a property. We chatted to the Pam Naidu, Head of Sales and Marketing at Devmco Realty about these.
Location and proximity
The first thing to look at is the location - consider the perception of the neighourhood within which the property is located. Is it a family centric neighbourhood? Is it close to appealing and essential amenities like schools, public parks, and retail outlets? Don't forget to consider proximity as well, and with that accessibility. If your child's school is not in the immediate surrounds you may have to consider how you will reach the school on your daily commute - does this involve travelling on a highway or a busy arterial road? Don't overlook how much value convenience can add to your life. Although it is unquantifiable, the value which convenience brings to your life will be felt when running daily errands or on your daily commute.
Security
Security is a huge factor, and perhaps the very first thing South African buyers enquire about when looking at a property. If you purchase outside of an estate, you will need to look very carefully at the security risks that come with your purchase; and you may also have to spend money to upgrade your home security. Needless to say, the security offered by a home in an estate is unequalled when compared to a freestanding home. A home within an estate, like Gold Coast Estate, offers end-to-end, round-the-clock security which is robust and supported by the latest technology as well as physical, human security personnel. Security within an estate does not come at an extra cost to the owner, and all costs for are included in the estate levies. The value of this is that any security upgrades are of benefit to all who reside within the estate and come at no extra cost. Security is no longer an added extra within an estate, in fact, it is essential and has come to be the minimum standard within residential developments. With that said, residential property developers are now being pushed to go above and beyond simply providing the basics - buyers want to know that they are truly safe because the the latest and most innovative security systems are in place. As an example, Gold Coast Estate installed an entirely hands-free, no-touch biometric system a few months ago. Not only does this eliminate the need for skin to surface contact but the system reads your unique 'human' signature on a sub-dermal level. The use of fingerprints is quickly becoming outmoded in some contexts and therefore the Devmco Group wanted to provide a virtually tamper-proof system.
Buying an older home
Although an older home may be appealing, and often offer more space, it can come with a host of challenges. You may find that as time goes by that more and more things are in need of repair, and although you have some recourse with the latent and patent defects, there will come a time when you are not covered by this anymore. You really need to consider the costs of the home in years to come as older homes may need renovations, upgrades, and improvements all of which come at a cost. This is where a home within an estate becomes an attractive option because you are buying a new property and have the support of the developer in this regard.
Purchasing a home is an emotional experience however one needs to look at some of these factors objectively and how these will translate years later. An older, freestanding home may be a cheaper purchase but can cost more in the long run. In order to maximise on the value of your investment, we, as Devmco Realty always advise people to purchase within a residential estate - today there are a range of products at different price points and there is so much added value that comes with it. Developments within key growth areas like Sibaya are poised to increase in value especially as the demand grows.
Author: Devmco Realty
