Have you considered buying new?
Category New Developments
Tired of moving into fixer-me-uppers or purchasing older properties that turn out to have problems hidden beneath their charm, why not consider a new residential development? Buying new comes with a number of specific advantages.
Costs
Most developers are VAT registered which means No Transfer Duties! On a R2m property, this would be a saving of around R65 000.
Choice
The earlier you register your interest in a new residential development, the more likely you are to find exactly the right home. The key to getting that north-facing garden for glorious summer braai’s or top-floor apartment with fabulous views is to get in quickly and find out what your options are. New build homes are designed with the wants and needs of modern house-buyers in mind, so there's every chance you'll find your particular wishes fulfilled.
5-year warranty - NHBRC
While one of the clearest benefits of owning a new build is that repair and maintenance costs shouldn't be an issue, you also get the reassurance of a 5-year warranty from the National Home Builders Registration Council (NHBRC) which provides housing consumers with warranty cover for minor defects identified within the first three months of occupation, roof leaks identified within the first year of occupation and cover against major structural defects identified within the first five years of occupation.
Any minor problems can be taken care of, too. Once the keys have been handed over, the new owner of the house and the agent/developer will complete final 'snag' list of the property to note any small issues, such as sticking doors or scuff marks on the walls or skirting etc. These will then be sorted out by the developer.
More certainty
Buying and selling your home can be one of the most stressful life situations. There are a number of reasons why a private seller may change their minds, including a change in circumstances etc
However, the cancelation rate is very low when buying a new home. As this is a business transaction for the developers, they are much less likely to change their minds half way through a sale.
Energy efficiency
Modern properties tend to be designed with energy performance in mind. All new properties must have solar geysers installed and most developers are including insulation in the roof resulting in less money spent on heating bills and of course reducing your impact on the environment.
Author: Richard Mulligan
