Purchasing property

My take on Parklands from experience

My wife and I bought a house last year January, and i think we got it at a good price. Freestanding home, 4 bedrooms, 3 bathrooms, splash pool etc in good condition. Bond amount 1.4m. 1 Year on and absolutely no regrets. Very good value for money. As ex-JHB people we admittedly were not familiar with the area at all. So I did like a months worth of research, driving through the area for like a month twice a week, during peak time and off peak. Just checking out the area. So, Parklands has good sides and some dodgy sides - just like any neighborhood. I mean i've seen some dodgy streets in Sandton and even Houghton. I've seen dodgier stuff in Randburg than i've seen in Parklands. We eventually bought on the 'good' side of Parklands. I'm confident the area will see a rise in popularity especially with all thats going on in the West Coast.

Just my opinion :)
 
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MKFrost said:
Give it time, yes there is an increase in the property market and many agents say this is the year, buy now or regret it later, prices from here on in only has one way to go etc....

I however do not believe this as we are bound to see one or two interest rate hikes this year and these hikes will have a far larger impact than those in previous years as consumers are far more 'stretched' to the limits this time round and any hike in interest rates will put a big damper on any larger debt purchases.

I do not say that prices will go back into a slump, just that there is not going to be any spectacular property run like back in 2005-2008.
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+1

I think I'm just going to save up for a year or two.
 
Property in Cape Town Northern Suburbs are insanely expensive at the moment. I almost vomited in my mouth when I did a quick gumtree search for 3 bed houses under R1.6 million in Durbanville. Found 22 hits of which the same listings popped up more than once. Insane. The place we are renting now for R7 900 is going for R1.59million WTF. That is double the rent if you have to pay rates and taxes.
 
Stefanmuller said:
Property in Cape Town Northern Suburbs are insanely expensive at the moment. I almost vomited in my mouth when I did a quick gumtree search for 3 bed houses under R1.6 million in Durbanville. Found 22 hits of which the same listings popped up more than once. Insane. The place we are renting now for R7 900 is going for R1.59million WTF. That is double the rent if you have to pay rates and taxes.
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On those figures you should be paying R13500 at least. The owner would be better off selling and investing the money, his return after expenses is pathetic.
 
Billy said:
On those figures you should be paying R13500 at least. The owner would be better off selling and investing the money, his return after expenses is pathetic.
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The same places were going for R1.4m about a year ago so I think the R1.6 is just very inflated. The current owner bought 15 years ago so his bond is a lot less if not paid off already. We are renting at a good price though.
 
I'm in the process of buying land 2 build. If I am going to be ripped off, I might as well be stuck with a house that I actually *like*
 
Stephanmuller selling free property I see. If I have a net free cash flow per month of 25k, how many of your "free" properties can I buy?
 
Just picked up a unit, for below 800k in a sectional title in Goodwood. Old solid building, 82sqm, thick walls...that has totally been revamped. Had a look at the building via Google Street View ...and I was like OMG, no way in hell.... The place previously looked like one of those flats you find on a main road somewhere, dogeville to the max, looked like a space station with all the DSTV satellites...But after a good wash down, a new slap of paint, sanding, and update of all features, a really nice gem emerged. The area generally is nice, and quiet...and yeah, beats renting. There are some real gems out there, that you can pick up for a steal.
 
Melkbos is even crazier. Sold our house for double/sqm that we are buying in Durbanville.
 
I'm.seeing Cape Town prices are cooling somewhat. The insanely high prices asked in my area have mostly dropped in last few months, although the reduced prices are still quite hefty.
 
mountainboy said:
I'm.seeing Cape Town prices are cooling somewhat. The insanely high prices asked in my area have mostly dropped in last few months, although the reduced prices are still quite hefty.
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Effect of rate increases etc. I reckon in 3 yrs time the prices would be what we pay now(prices never go down, they just stop going up) before it starts increasing fast in 4-5 yrs when I expect economy to march on again assuming nothing bad happens with elections.
 
mountainboy said:
I'm.seeing Cape Town prices are cooling somewhat. The insanely high prices asked in my area have mostly dropped in last few months, although the reduced prices are still quite hefty.
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they may be cooling in your area but not in Cape Town in general. There are still areas in Cape Town with huge demand and strong price growth.
 
Thread Necro

Just picked up the keys to my new place and seen some damage was done by wood borers to floors and window panes. Entomology Report accurately indicated this and treated the affected areas and now there's no sign of the insects. My question is, who covers the repair/replacement of the floor and/or window panes?

Tia
 
peeryus said:
Thread Necro

Just picked up the keys to my new place and seen some damage was done by wood borers to floors and window panes. Entomology Report accurately indicated this and treated the affected areas and now there's no sign of the insects. My question is, who covers the repair/replacement of the floor and/or window panes?

Tia
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If it was declared before hand theres not much you can do, and even if ot wasnt declared youre going to have to go the legal route which will probably cost more than just fixing the problem yourself.
 
Yup if you were made aware of it and accepted it without making a specific condition related to it in the sale then it's now your problem.
 
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