ADVERTORIAL Chatting to Seeff, Hillcrest, Kloof, KZN owner

2017-01-17 06:01
PHOTO: supplied Michele Wilson of Seeff Hillcrest.

PHOTO: supplied Michele Wilson of Seeff Hillcrest.

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HILLCREST Fever spoke to Michele­ Wilson, Seeff Hillcrest, Kloof, KZN owner about the market.
HF: What do you consider to be the pros of buying a house rather than building one?

MW: In building a home the owner can concentrate on their own style and preferences instead of altering someone else’s choice. The thoughts behind your own building project allows you to choose your own proportions freeing you up to place your own accent on how you want to live. The building option allows your freedom of choice on finishes too, which would more than likely be upmarket and the latest in high-end finishes, which add value to the property. You are then able to have the choice of colour and trendy even tones, which has great an easy flow on the eye that will end up on the creation of formality in the home.

Buying, on the other hand would often lead to the buyer wanting to put their own footprint on the home and effect changes that could not only be very disruptive, but also cost a lot. When effecting changes in an existing home you often come across a few surprises you might not have been aware of, like supporting walls which cannot be structurally altered and hence not really achieving what your vision was.

HF: What advantages are there to building rather than buying, though?

MW: When building one would often find the land to purchase under R750 000 and not incur transfer duty on the land price. This is a big savings. If the buyer, who was building has his or her own cash to do so the end product is also free of transfer costs. Likewise, if the person building goes through a developer to effect the build there is no transfer duty applicable. On the other hand when buying a second-hand product or home there is always transfer duty applicable on top of your purchase price.

HF: What advice would you give someone considering building a house?

MW: If you are choosing a building package from a developer one would ensure you have made yourself acquainted with the strong standing reputation of the developer and that all the proposals from the developer have been passed by the municipality. Ensure that the building package from the developer is structured and that the developer is of good financial standing himself or herself.

HF: Is it important to consider the location if you are planning toon building a new home and w hat should one consider when building in a new area [new estate]?

MW: The location of your new build is of extreme importance ensuring that your end product provides you with a good investment return. The new build should always be in a prime location, close to amenities, good schooling and in an area that is presenting with good capital growth.

Should you be building in a new estate there is much more to consider other than the importance of a good location.
When choosing to build in a new estate one has to ensure the development has a strong professional team who have been supported by a reputable land surveyor and that all engineering work and building or construction is being carried out by respected civil engineers.
You must also be fully aware of the criteria around the Mother Bond on the development which involves a certain set amount of sales being secured by the developer before the development can begin. My advice around being completely informed regarding the building bond options and financial packages designed for the development is fully understood by the individual wanting to build in the development, ie., building time frames, penalties, and any other small print.

HF: Do you have any idea of the cost of building vs buying by any chance?

MW: In our area in most standard second sale properties the achieved selling price can be calculated between the parameters of between R6 500 to R8 500 per m2. The more upmarket second sale properties will fetch between R8 500 to R10 000 per m2. Upmarket estates fetch far higher per square metre with the parameters between R10 000 to R15 000 per m2.

Building costs are currently sitting at anything between R7 000 and R7 500 per m2 for standard builds, however, in the upmarket estates or golf course estates or equestrian estates the building costs are anything between R8 000 and R12 000 per m2, dependant on architectural designs and conformance to estate specifications.

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