Buyers market ?

supersunbird · Jan 20, 2009

Hosehead said:
Jeez. Are the walls that thin?

Sometimes yes...

Paul_S · Jan 20, 2009

Houses are still too expensive.
In the last 6 months that I've been searching I've found less than 10 houses for under R800K that are decent and in a safe area (Centurion and Randburg).

What I mean by a decent house and safe area is :
120m2 minimum, 3 bedroom 2 bathroom, double garage, 1000m2 stand and safe area.

I cannot understand why people buy these new cluster developments that have only 70 to 90m2 of floor area for R700K. How on earth are you supposed to live in that with 2 kids?!

supersunbird · Jan 20, 2009

Paul_S said:
Houses are still too expensive.
In the last 6 months that I've been searching I've found less than 10 houses for under R800K that are decent and in a safe area (Centurion and Randburg).

What I mean by a decent house and safe area is :
120m2 minimum, 3 bedroom 2 bathroom, double garage, 1000m2 stand and safe area.

I cannot understand why people buy these new cluster developments that have only 70 to 90m2 of floor area for R700K. How on earth are you supposed to live in that with 2 kids?!

Cause its all they can afford?

Hoof-Hearted · Jan 20, 2009

Paul_S said:
Houses are still too expensive.
In the last 6 months that I've been searching I've found less than 10 houses for under R800K that are decent and in a safe area (Centurion and Randburg).

What I mean by a decent house and safe area is :
120m2 minimum, 3 bedroom 2 bathroom, double garage, 1000m2 stand and safe area.

Frankly I'm surprised you even found one place with that kind of spec in a decent area. Avg price / m² is probably around 7.5-9k at the moment and that's sectional title ... no stand

Paul_S said:
I cannot understand why people buy these new cluster developments that have only 70 to 90m2 of floor area for R700K. How on earth are you supposed to live in that with 2 kids?!

They aren't meant to accomodate families. Unfortunately anything big enough costs a whole lot more ammo

Paul_S · Jan 20, 2009

supersunbird said:
Cause its all they can afford?

Yip. Gone are the days when I man could work, pay for the house and food and everything else while his wife could stay at home.
Would need to earn about R60K pm minimum to live "comfortably" like that.

blunomore · Jan 20, 2009

Paul_S said:
I cannot understand why people buy these new cluster developments that have only 70 to 90m2 of floor area for R700K. How on earth are you supposed to live in that with 2 kids?!

Those matchboxes! The peeps living there must feel like they're going crazy, cannot even turn around properly.

Peder · Jan 20, 2009

Paul_S said:
Yip. Gone are the days when I man could work, pay for the house and food and everything else while his wife could stay at home.
Would need to earn about R60K pm minimum to live "comfortably" like that.

They are not "Gone" but its more difficult.

MY dad works mom doesn't

60K WOW

thats allota money...

Kokop · Jan 21, 2009

Too late to sell, too soon to buy

Velenoso · Jan 21, 2009

It's definitely a buyers market at the moment. I actually managed to sell 6 of my properties which I bought in the beginning of 2008 at a reasonable profit. This is an indication to me that there still are buyers out there. Time to start hunting for this years projects, there are really some nice bargains to be had right now. If you can afford it, I strongly suggest buying now. I plan on leaving at least two houses for the World Cup in 2010 to rent out to Europeans and Americans. I've already arranged for 10 guys I know to come down from the US. What they'll pay me for the duration of the World Cup will cover my bond on at least one house for at least 6 months or more. There's some good money to be made, this is the year to buy property in South Africa.

koeks · Jan 21, 2009

Velenoso said:
It's definitely a buyers market at the moment. I actually managed to sell 6 of my properties which I bought in the beginning of 2008 at a reasonable profit. This is an indication to me that there still are buyers out there. Time to start hunting for this years projects, there are really some nice bargains to be had right now. If you can afford it, I strongly suggest buying now. I plan on leaving at least two houses for the World Cup in 2010 to rent out to Europeans and Americans. I've already arranged for 10 guys I know to come down from the US. What they'll pay me for the duration of the World Cup will cover my bond on at least one house for at least 6 months or more. There's some good money to be made, this is the year to buy property in South Africa.

Wow, 6 properties. nice Velenoso

blunomore · Jan 21, 2009

koeks said:
Wow, 6 properties. nice Velenoso

Show-off

thatdamnJoe · Jan 21, 2009

So I went to an auction this morning. Lets just say next time I wont just be going for a look-see

Pitbull · Jan 21, 2009

thatdamnJoe said:
So I went to an auction this morning. Lets just say next time I wont just be going for a look-see

How did it go ?

Size of the house, area and price it closed on ?

blunomore · Jan 21, 2009

Auctions make me nervous

Dolby · Jan 21, 2009

Some people prefer the 70-80sqm places for R700k than the larger.

My brother is 22 and just bought a place in Jackel Creek for R750k - but he's hardly ever home, has no pets, the place and fittings are modern etc etc Serious lock and go.

He prefers that to larger, older places.

Pitbull · Jan 21, 2009

Dolby said:
Some people prefer the 70-80sqm places for R700k than the larger.

My brother is 22 and just bought a place in Jackel Creek for R750k - but he's hardly ever home, has no pets, the place and fittings are modern etc etc Serious lock and go.

He prefers that to larger, older places.

Never heared of it, sure it's not "Jakkels Kraans" ?

Hoof-Hearted · Jan 21, 2009

Pitbull said:
Never heared of it, sure it's not "Jakkels Kraans" ?

It's a "golf estate" near Northgate shopping centre.

(" " because no golf has been played there to date

)

Hoof-Hearted · Jan 21, 2009

Pitbull said:
Never heared of it, sure it's not "Jakkels Kraans" ?

I'd have said that's in Cape Town but then it would be "Jakkalas Krans"

thatdamnJoe · Jan 21, 2009

Pitbull said:
How did it go ?

Size of the house, area and price it closed on ?

Let's see. The one with the most wow factor was probably the 5 bedroom(subdivided into 5 flatlets) one for R410k. Already has occupants paying r6500 a month.

Area? If I tell, I might end up bidding against you at the next auction so unfortunately I'm gonna stay mum on this one. sorry mate, no hard feelings

Pitbull · Jan 22, 2009

thatdamnJoe said:
Let's see. The one with the most wow factor was probably the 5 bedroom(subdivided into 5 flatlets) one for R410k. Already has occupants paying r6500 a month.

Area? If I tell, I might end up bidding against you at the next auction so unfortunately I'm gonna stay mum on this one. sorry mate, no hard feelings

hehe no I understand. Just wanted to know if the area is nice, not perfect or good.... just a nice area

But that is a damn steal... R 410 000

I think I'll also start doing auctions before I go via an agent. With the amount of repo's might not be a bad idea

Thank you for the info.

Buyers market ?

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