Chevron South Africa to build new HQ at Century City

An artist impression of the Chevron building to be built at Century City

Chevron South Africa plans to relocate its South African headquarters to Century City.  The group has acquired a gateway site at Century City from the  Rabie Property Group on which it is  to build a new 9000 square metre green head office.  The building is being designed by Louis Karol Architects who were up against three other shortlisted architectural firms in a design competition.  Construction is due to start in the first half of 2012 with completion scheduled for end 2013.

The new Chevron head office is to be built according to environmentally friendly principles and is aiming for Green Star SA certification from the Green Building Council of South Africa (GBCSA).  If successful, this will be the second building at Century City to receive Green Star SA certification. The first was the Aurecon building, which was developed by the Rabie Group and which was not only the first certified green building in the Western Cape but was the first building in South Africa to be awarded a 5 Star Green Star SA – Office Design v1 rating by the GBCSA.

John Chapman, a director of Rabie Property Group, said they were delighted to welcome Chevron South Africa to the Century City family.  “Their building will be the first office block to be built in a new 150 000 square metre office node at Century City to be known as Bridgeways and which is already home to the Virgin Active Health Club and the Hillsong Church”

Chapman said Rabie was looking at developing Bridgeways as a “green” precinct and would be implementing measures to provide a base measure to assist environmentally conscious corporates achieve accreditation for their green buildings in the future. In this regard, provision had been made for a multi-tiered parking facility which will allow tenants and owners additional affordable parking within close proximity to these offices.

He said a further two office blocks, each of around 4000 square metres, were also currently in the planning stages for the precinct which is in easy walking distance of not only the Virgin Active, Ratanga Junction and Canal Walk but also the convenience retailing and restaurants of the Colosseum, and the five star dining and spa facilities of the African Pride Crystal Towers Hotel and Spa.

The site of the Chevron head office faces onto Century City Boulevard, the main thoroughfare of Century City, and is directly opposite the Colosseum and the planned bus station for the Bus Rapid Transit System which is expected to be extended to Century City by the end of 2012.

It is also in easy walking distance of one of Century City’s two Public Transport Interchanges for those commuters relying on bus or taxi services as well as the Century City Station.”

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R35m upgrade for Tokai On Main shopping centre

Food Lovers Market at Tokai on Main

A R35million upgrade and redevelopment of the Tokai on Main Shopping Centre in Main Road, Tokai which includes a new, state-of-the-art 3500 square metre Food Lovers Market, is nearing completion.

Colin Anderson, a director of the Rabie Property Group, said the building work had been completed and final touches were now being done.  He said the Food Lovers Market had accounted for the bulk of the redevelopment – which included raising the roof to bring in natural light – with five other shops being closed or relocated to make way for the enlarged store.  The group’s largest store in the Western Cape, the Food Lovers Market had opened in December and was trading way ahead of expectations attracting customers from far afield.

“As a fresh produce emporium it is really spectacular offering not only a huge variety of fruit and vegetables but also cheeses, meat, fish, chocolates and pasta. There is also a general grocery department, a bakery, a deli, a sushi bar, coffee shop, biltong bar, wood burning pizza oven and wine bar.”

Anderson said the incredible support from local shoppers justified the upgrade as there had certainly been a pent up demand for genuine convenience retailing in the area.  “And the increased foot count the new Food Lovers Market is drawing to the centre will no doubt improve the trading density of all the tenants.”

Graeme Liebenberg, Group Property & Business Development Manager, of Food Lovers Market, said the store had exceeded all expectations in terms of sales performance “which bears testimony to the fact that we are providing what the consumer is looking for”.

“The new Food Lovers Market gives the customer the ‘Theatre of Food’ experience, which is unique in South African food retail and brings a level of excitement to an otherwise mundane experience.  The Tokai Food Lovers Market is the latest example of our innovation and years of constantly analyzing international food trends offering the customer an experience that is right on the forefront of global food retail and which could be in New York, Paris or London.”

The shopping centre, which is managed by Rabie Property Administrators, includes Baby City, Sportsmans Warehouse, Super Plants, Postnet and Dial a Bed. This too has received a facelift with work now nearing completion.  The redevelopment had also improved the parking flows while still retaining in excess of 370 parking bays.

The redevelopment of the shopping centre, along with other large urban renewal projects in the area including the upgrade of the nearby Blue Route centre, was assisting the repositioning of the area as a strong commercial node and there had also been a strong pick up of inquiries for the adjacent offices in recent months, said Anderson.

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Lukhanyo jets off to a bright future!

Lukhanyo & his uncle outside their one room shack which they have shared for the past 4 years

Sinenjongo High School’s top matriculant in 2011, 18 year old Lukhanyo Velelo, today jetted off to Johannesburg to enrol for a B Science (Actuarial Science)  degree at the University of Witwatersrand for which he has secured a full scholarship from Metropolitan Life.

Lukhanyo's neighbours looking on as he departs for the airport

Living in a one room shack in Joe Slovo Park with his uncle Brian Velelo for the past four years,  Lukhanyo achieved five As and two 79% (English and Xhosa) for his exams and is hoping for a full house once the two language papers have been remarked.

Natasha Lassen and Maggie Rowley of Rabie with Lukhanyo and Brian Velelo

At the airport to say goodbye to him were a team from the Weekend Argus whose heart-warming story of Lukhanyo’s success in spite of the disadvantages he has faced in his life, helped immensely in securing him a bursary.

Final goodbye before boarding (that's the flight captain on the right)

Nothing was going to get in the way of his excitement, least of all the fact his bag with everything he owns in the world, was double the permitted weight and he had to unpack in the departure hall and separate out the absolute essentials to take with him.

Lukhanyo on his way to a bright future - we are so proud of him!

We are making plans to get the balance of his things, including some books and stationary, to him within the next week or so.

Aptly so, Lukhanyo’s name means Bright Future and we have no doubt that is exactly what awaits him.

We are sure you will join us in wishing Lukhanyo everything of the best!

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Hats off to Sinenjongo!

Rabie Property Group is immensely proud of Sinenjongo High School’s achievements in the 2011 matric examinations.

Celebration for Sinenjongo's Matrics of 2011

The School in Joe Slovo Park, which Rabie adopted as the major beneficiary of its Corporate Social Investment programme five years ago, achieved an 88,5% pass rate with 77 learners against 43 the previous year passing the 2011 matric exams.

The achievement was recognised by the MEC for Education Donald Grant and the Premier Helen Zille who presented the principal, Ms Nopote, with a special award for being among the top 10 most improved schools in the province.

This is a long way from the 27% pass rate the school recorded four years ago with the results showing a year on year improvement thanks to extremely hard work by staff and learners and a number of important support interventions and programmes funded by Rabie and some small sponsors in recent years. These include the St Marys Interactive Learning Experience (SMILE) and five additional maths, science and English teachers.

Of the 10 learners who failed last year, 9 qualify for supplementary examinations.

What is extremely pleasing is the improved quality of the results with learners achieving 19 Bachelors (university passes) and 37 Diplomas (technikon passes) giving a total of 56 tertiary education passes against less than 20 the previous year.

The school achieved 14 subject As, 66 Subject Bs, 111 Subject Cs and 114 Subject Ds – a huge improvement on last year where the majority of marks were below 50%.

100% passes were recorded in Computer Applications Technology, English First Additional Language (the contribution of SMILE very evident), IsiXhosa Home Language, Life Orientation, and Tourism.  The pass rate for accountancy was 69,2% which represented a huge improvement on mid-year and due in the main to the work of a new Head of Department. We expect further major improvement in Accountancy marks this year.  The pass rate in other subjects was  Agricultural Scienc(90%); Business Studies( 89,7%); Economics (76,9%); Geography( 76,2%); Life Sciences (95,8%); Mathematical Literacy  (92,4%); Mathematics (85,7%); Physical Science (84).  The average mark achieved for Maths was 46,7%  – more than double that of two years ago!!The average science mark was 43,8% – Also-double that of two years ago!!

The principal, Mrs Nopote, and top A student, Lukhanyo Velelo

Our top student Lukhanyo Velelo achieved unbelievable results and the first As we have ever had outside of Life Orientation which is not an academic subject. He achieved 89% for mathematics, 85% for Physical Science, 87% for Life Sciences, 85% for Computer and Technology, 92%   for Life Orientation and 79% for both Xhosa and English. He will be applying for a remark in the two languages and is aiming to study a BSC in Actuarial Science at Wits University.

This is an exceptional achievement for a young man who has lived in a single room in Joe Slovo with his uncle and cousin for the past four years!  Well done Lukhanyo!

We are trying to assist Lukhanyo raise sponsorship for his degree and will keep you informed of progress in this regard.

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Century City outperforms office market

The Bridgeways precinct where two new developments are planned, a 9000 m2 office for an international company and 4000 m2 office block for a national tenant.

The latest SAPOA office vacancy survey shows that while vacancies in six out of the seven Cape Town offices nodes rose in the fourth quarter of 2011, Century City bucked the trend with vacancy levels falling to 8,5% from a high of 12,9 percent in August 2009.   The Cape Town office vacancy factor overall rose to 10,5% in the same time.

Giles Balmer of Rabie Property Group, developers of Century City, said that this was even more spectacular given the fact that the size of the Century City office market has ballooned to 243 488 square metres of office space against a mere 83 003 square metres when Rabie acquired the undeveloped land and associated rights in June 2004.  “Currently only 20 889 square metres of offices remain to be let in the precinct so the total take-up since June 2004 amounts to around 150 000 square metres giving an average annual take up of 20 000 square metres per year over  the past seven and a half years.”

Balmer said they knew of no other office node in the country to experience this level of growth over this period.  He pointed out that the bulk of new space at Century City came on stream between June 2006 and September 2008 – a period when the node grew from 96 978 square metres to more than 206 000 square metres.  Factors contributing to Century City’s growing popularity as an office destination is its central location, its integrated new urbanist lifestyle, its high level of infrastructure, security and services; its extensive public transport offer  and the wide range of world class leisure, sports and retail amenities, including Canal Walk shopping centre, all in easy walking distance.

“The launch of Century City Connect, the first open access fibre optic network of its kind in South Africa, is certain to add to its appeal particularly among companies with large broadband requirements.  Century City Connect is providing the country’s fastest, carrier neutral “last mile” open access network over which a select number of Internet Service Providers are offering those living and working in the 250ha precinct the fastest voice, broadband and multi-media services. Because Century City’s fibre optic backbone is carrier neutral, clients are able to choose which of the accredited Internet Service Providers’ (ISPs) packages best suits them in terms of voice, broadband and multi-media services as well as cost,” he said.

Balmer said that while Century City had mushroomed in recent years, there is still a long way to go.

“Century City has total development rights of around 1,3million square metres of bulk including a total of 591 180 square metres of office space so what is here now is less than half that of when it is fully developed, “says Balmer.

He says that with its basket of rights, Century City is in the enviable position of being able to respond to cycles within the different sectors of the property market as these cycles tend to follow each other rather than overlap.

“Continued demand for office space in the precinct has prompted significant new development and 14 years after  it was launched the Century City development has matured significantly with a multi tier office market having emerged giving buyers and tenants a much broader choice of product.”

Balmer said previously all the available offices were much of a muchness in terms of quality and all was largely owner occupied.  “The precinct was not perceived to be a rental node. However, development in recent years has changed that and created a sustainable rental market with a diversity of product and rentals.”

New office developments underway at Century City include The Courtyard, which has been designed to satisfy pent-up demand for small to medium size offices in the precinct.  The 2200 square metre building, being built at a cost of R37million, will comprise 18 units ranging in size from 63 square metres to 222 square metres which can be combined up to a size of 600 square metres if required.  Prices excluding VAT but including parking and installation allowances, average around R16,750 per square metre.

For further details contact Giles Balmer or Sedica Knight on 021 550 7000.

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Buyers snap up Quayside apartments

Quayside at Century City

Buyers snapped up 28 of the 63 apartments and townhouses in Quayside, Rabie Property Group’s latest development at Century City, in the first two days of it being launched.  The total rand value of the sales was more than R41,5 million.

Brian Usher of Property World, the official on site agents for Century City, said the response from buyers had been exceptional and exceeded all expectations.  “This is the first large development to be launched at Century City this year and there was obviously some pent up demand from potential purchasers who have been waiting for a new release in the precinct.  Over and above this, much of the demand for Quayside is due to its being such an exceptional product – as most apartments are north-facing and water-fronting – offering real value for money.”

He said with building costs the lowest they have been for years, and interest rates at an all-time historical low, it was highly unlikely that apartments and townhouses of this quality would be brought to the market anywhere close to these prices again.

“With an average selling price of under R16 000 per square metre, now’s the time to get in. By the time of transfer in mid 2013, we will definitely be looking at substantially increased capital costs.”

Quayside comprises 57 canal-fronting apartments and six double-storey canal-fronting townhouses situated in the residential heart of Century City, and within easy walking distance of Century City’s world class amenities including Canal Walk Shopping Centre and the award-winning 16-hectare Intaka Island nature reserve.

The focal point of the development is the internal canal, which surrounds the development on three sides to create a tranquil residential peninsula and provide shelter from prevailing winds.

It has been designed by Cape Town architect Chris Bam and comprises 22 one-bed apartments of 50 m2, 30 two-bed apartments ranging from 80m2 to 111m2, four three-bed apartments from 130m2 to 149m2, and six three-bed canal-side duplexes sized between 150m2 and 170m2 including garages. Balcony areas have not being included in these figures, and range from a Juliette balcony of 2m2 to a large entertainer’s terrace of 50m2.

Parking is provided for predominantly in a semi-basement, with ground level parking being limited to facilitate a pedestrian-friendly environment. One-bedroom apartments are each allocated a single bay, with the two and three bed units each having two parking areas, some of them being lock-up garages. Units are priced from R850 000 to R2 900 000 including VAT.

Usher said Quayside had broad-based appeal with 60% of sales to date having been to owner occupiers with buyers ranging from newlyweds to retirees.

Two showhouses are currently under construction and will be available for viewing from early next year while a model of the development is on show at Rabie’s onsite sales centre.

For further information please contact Property World, the official on-site sales agents for Quayside on 021 5550105.

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Quayside launches 12 November 2011

Quayside, Rabie’s latest residential development at Century City, launches on Saturday 12 November.

This water fronting residential development comprises 63 apartments and semi-detached homes.

Being developed by Rabie Property Group at a total cost of around R95million, Quayside is the first large development to be launched at Century City this year and is being brought about because there is little or no developer stock left in earlier developments.

The one, two and three bedroom apartments units will range in size from 52 square metres to 118 square metres and penhosues from 118 square metres to 180 square metres while the townhouses will be around 180 square metres. Prices are from R850 000 to R2,8million.

Designed by Chris Bam Architects in a modern contemporary vernacular, Quayside will also comprise six exclusive semi-detached townhouses, each with their own garage.

Project manager, Miguel Rodrigues, says extensive planning has gone into Quayside.

“We have carefully assessed what the strongest selling factors have been in previous residential developments we have undertaken at Century City and have incorporated many of these elements into the design of Quayside.”

These include having all apartments and duplexes overlooking water. In addition, many units are north-facing and most have balconies.

“And very importantly, Quayside will be centrally located within Century City, adjacent to the award winning Waterstone development and in easy walking access of many of Century City’s amenities including Canal Walk shopping centre, Intaka Island nature reserve and the Century City Clubhouse and sports Oval,” says Rodrigues.

Quayside will also link into Century City Connect, the open access Fibre-to-the-Premises network which will offer residents access to the country’s fastest voice and broadband services as well as multi-media connections.

Century City Connect, is “carrier neutral” which means residents will not be tied in or forced to use any specific voice or Internet Service Provider (ISP). Rather they will have a choice of a number of pre-selected blue-chip ISPs to choose from that will be hosting their services in a purposely built Century City Connect Data Centre.

Rodrigues said other innovative amenities within the development include a central hot water system which will not only save space in each apartment but also be more energy and cost efficient than individual geysers in each apartment. This should, he said, also reduce the household insurance payable by the body corporate, and help eliminate resultant damage caused by burst geysers.

Construction of Quayside is expected to start early in 2012 with completion and transfers scheduled for mid 2013. Big Ben, the contractors on Rabie’s Waterstone development, which was voted top residential development in South Africa in 2011 by the South African Property Owners’ Association, have been appointed to construct Quayside.

Quayside will form part of a larger development which comprises three independent erven – Quays which will provide 3500 square metres of low rise studio offices set around courtyards and Quay North, a smaller residential complex of around 28 apartments.

Two showhouses are currently under construction and will be available for viewing from early next year while a model of the development is on show at Rabie’s onsite sales centre. Follow the signposts.

For further information please contact Property World, the official on-site sales agents for Quayside on 021 5550105.

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Landscaping sets Rabie apart

A key factor differentiating Rabie developments is the value added landscaping included in each project.

In fact Rabie spends anything between 2,7% and 3,8% of the total construction costs of a development on landscaping.

Assistant project manager, Nicola Aschmann, says that the Rabie professional team on each development include a landscaping architect as well as professional landscapers who work closely with the environmental officers of both the Century City Property Owners’ Association (CCPOA) and the City Council.

“The CCPOA has a stringent list of indigenous plants that we have to adhere to when landscaping our developments at Century City.

Aschmann said many of Rabie’s developments had won awards and there was no doubt the extensive landscaping in these developments had contributed to their success.

She said not only did Rabie undertake extensive landscaping of their developments but that the CCPOA – which represents all stakeholders at Century City and which is responsible for the day to day running of the precinct – also did similarly in terms of the greening of public open spaces.

“The CCPOA in fact has its own nursery, the primary purpose of which is to propagate endemic and local indigenous species.

“Endemic species, which currently include 24 Red Data Species, are collected within a 5km radius of Intaka Island to ensure the genetic pool stays pure and the endemic plants are mainly used on Intaka Island.”

The CCPOA is in partnership with Kirstenbosch in terms of its Biodiversity programme. The CCPOA assists Kirstenbosch with the collection and cultivation of species for Kirstenbosch while
Kirstenbosch in turn assists with the training of CCPOA’s nurserymen as well as the collection and cultivation of species for Intaka Island.

Aschmann added that as part of Century City’s environmental management plan, all irrigation within the precinct uses recycled water which is piped to Century City from the Potsdam Water Works.

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Residential property : New water-fronting homes launching soon

An artist impression of Quayside at Century City

Quayside, a new residential development at Century City comprising 63 apartments including six semi-detached homes, is to be launched on November 10 to meet the burgeoning demand for waterside living in the precinct.

Being developed by Rabie Property Group at a total cost of around R95million, Quayside is the first large development to be launched at Century City this year and is being brought about because there is little or no developer stock left in earlier developments.

The one, two and three bedroom apartments units will range in size from around 50 square metres to around 150 square metres excluding balconies, while prices are expected to be in the order of just under R1million to just under R3million. One bedroom units will each have one parking bay and two and three beds, two parking bays and some even garages.

Project manager, Miguel Rodrigues, says extensive planning has gone into the development with many of the strongest selling factors of previous developments being incorporated into the design including
all apartments and duplexes being water fronting with balconies and most are north-facing.

“And very importantly,  Quayside  will be centrally located within Century City, adjacent to the award winning Waterstone development and in easy walking access of many of Century City’s amenities including Canal Walk shopping centre, Intaka Island nature reserve and the Century City Clubhouse and sports Oval,” says Rodrigues.

Designed by Chris Bam Architects in a modern contemporary vernacular, Quayside will also link into Century City Connect, the open access Fibre-to-the-Premises network which will offer residents access to the country’s fastest voice and broadband services as well as multi-media connections in the country.

Century City Connect, is “carrier neutral” which means residents will not be tied in or forced to use any specific voice or Internet Service Provider (ISP). Rather they will have a choice of a number of pre-selected blue-chip ISPs to choose from that will be hosting their services in a purposely built Century City Connect Data Centre.

Rodrigues said other innovative amenities within the development include a central hot water system which will not only save space in each apartment but also be more energy and cost efficient than individual geysers in each apartment. This should, he said, also reduce the household insurance payable by the body corporate, and help eliminate resultant damage caused by burst geysers.

Construction of Quayside is expected to start early in 2012 with completion and transfers scheduled for mid 2013. Big Ben, the contractors on Rabie’s Waterstone development, which was voted top residential development in South Africa in 2011 by the South African Property Owners’ Association, have been appointed to construct Quayside.

Quayside will form part of a larger development which comprises three independent erven – Quays which will provide 3500 square metres of low rise studio offices set around courtyards and Quaynorth, a smaller residential complex of around 28 apartments.

Two showhouses are currently under construction and will be available for viewing from early next year while a model of the development will be on show at Rabie’s onsite sales centre from early November.

For further information please contact Property World, the official on-site sales agents for Quayside on 021 5550105.

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Residential Property : Beginners’ guide for would-be home owners

A few observations by Kutlwano Rasodi, project manager, Rabie Property Group

Kutlwano Rasodi - Project Manager

Many conversations about purchasing property either as an investment or in which to live have been had between ambitious 20-something-year-olds looking to build wealth.  These conversations often result in the blind leading the blind and after much speculation there may be some valuable knowledge passed around but seldom any certainty.  This article by Rabie project manager Kutlwano Rasodi aims to help those who want to stop talking and start doing.

There are very few people who make their first million in their twenties so the majority of under 30s looking to purchase property will have to do so through a home loan which in many instances can be a barrier to entry as banks being banks need assurance that the lender will be able to repay them and they seem to have little faith in individuals who are new to the labour market. Getting a grip on the bond application process is the first step to a successful first property purchase.

The minimum home loan from most South African banks is R100 000 but the amount granted by the bank is dependent on a number of factors.  In the current climate of tighter credit, banks are reluctant to grant 100% bonds and in most instances require a deposit. So would-be first time purchasers need to starting saving to stand a better chance of securing a bond.

The property you will be able to purchase will be determined by to the Loan-to-value ratio (LTV) – the financier will look at the ratio between the loan required and the property value. In the current market the LTV is expected to be around 75%. The lower the LTV the lower the interest rate is likely to be.

Other issues banks take into consideration when assessing  a bond application is whether or not the would-be purchaser has a  clear credit history, has been employed for a minimum of 2 years, is over the age of 21 and earns a minimum income of R10 000 and has proof of this.

Those who are looking to buy property purely as a buy to let investment need to be aware that it is highly unlikely that the investment will be cash flow positive from day one and that they will no doubt have to initially dig deep to finance the shortfall between rental income and bond repayments and any other costs including rates and taxes or levies if it is a sectional title investment.

There are two approaches to property investment, namely income motivated approach and the capital motivated approach.

The income motivated approach looks at buying to let and to hold on to the property for the medium to long term. The capital motivated investor on the other hand looks to buy property then sell it on for profit after holding it for a short term.

Jason Lee, in his book Making Money out of Property in South Africa, suggests that an investor does not have to choose one or the other approach but could embrace both and even use the profit from the capital deals to reinvest in the income deals and in so doing gain some financial leverage and make the investments cash positive.

First time buyers should also bear in the mind the additional costs incurred when purchasing a property namely transfer duties (if a second hand property) or VAT (if bought from a developer), bond registration costs and stamp duty.

All the requirements, costs and commitments that go into purchasing a property can make it  a daunting task particularly for first time buyers. Many might be discouraged by this and the fact they do not fully qualify or even if they do qualify for a loan the financial strain of a full bond repayment. A way around this might be to partner with others in the investment and to apply for a joint loan. In this way you could qualify for a larger loan amount than you would have on your own and will only be burden by a pro rata bond repayment and associated costs.

This article may not answer all the questions that come up at dinner conversations among potential first-time buyers but it does highlight some of the issues that you need to bear in mind before making your first home purchase.

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