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I Issue: August 2003
I Editor: Berry Everitt I |
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Your Area Specialist:
Chas Everitt International
sales agents have all the latest market information
regarding local property values at their fingertips
– and are committed to the highest standards of
personal service when it comes to selling your home.
In addition, the Chas Everitt International property
group offers you, the homeowner, the best possible exposure
for your property in both national and international
markets. So if you are thinking of selling your home,
call your nearest Chas Everitt International office
today for the name of your local area specialist - or
visit www.chaseveritt.com
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Every month the Property
Signpost Newsletter will be issued to all our
subscribers, filled with real estate information to
help you make an informed decision, whether you are
buying or selling a property.
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Contents
1. Welcome By Publisher
2. Additional Considerations for Sectional
Title Buyers
3. Do Your Own
'Homework' on Local Schools
4. Restrictions on Sale of Business Premises
5. Gardens that Save Water -
and Money
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1.
Welcome By Publisher
Our big news this month
is the launch of the Chas Everitt International "super-franchise"
on the Garden Route. This already has offices in George,
Knysna, Sedgefield and Wilderness, and there are well-advanced
plans for new branches in Mossel Bay and Plett to
complete the string.
The "super franchise" concept came about when four
high-profile agency principals saw how they could
serve potential buyers better by pooling their resources
to market the Garden Route as a whole, instead of
each trying to attract potential buyers to a particular
town or area - and running the risk of "losing" them
altogether when they decided to go elsewhere.
This way, the many buyers who insist on seeing what
is available in each of the centers along the route
before they make any purchase decision have the advantage
of being able to deal with just one real estate company
from end to end. And, of course, it now makes no difference
to the super-franchisees which office finally signs
the deal!
For readers interested in Garden Route property, a
personal visit to check out the market would be best
(lucky me this month), but for those of you who can't
make the physical trip, the Live in Paradise website
is an excellent virtual alternative. Happy viewing!
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2.
Additional
Considerations for Sectional Title Buyers
Rising house prices are
forcing increasing numbers of first-time buyers to
consider buying sectional title flats or townhouses,
and while both options can offer excellent value in
a good area, there are other factors that potential
buyers of any sectional title scheme must take into
account.
Firstly, apartment or townhouse buyers need to be
aware of the fact that although they will own their
own "section" they will share ownership of "common"
areas such as entrance halls, lifts, parking areas,
the garden and recreational facilities - which means
they will be partially responsible for the upkeep
of these areas.
The cost of this maintenance should be included in
the monthly levy which is payable by all owners in
the scheme. The levy will probably also include their
share of the municipal rates and service charges applicable
to the whole complex, building insurance, security
and maintenance of building exteriors.
However, sectional title buyers must ascertain exactly
what the monthly levy does cover, and make sure that
the body corporate of the scheme has a reserve fund
for emergencies.
Secondly, buyers should be aware that they will have
to abide by the management rules of their particular
sectional title scheme. These might include a prohibition
on pets and restrictions on letting units or carrying
out alterations that would affect the exterior appearance
of a section.
Third, buyers are advised to seek out a development
which has a large percentage of owner-occupiers. Owners
usually demand a higher level of maintenance, are
more likely to keep common areas neat and tidy and
are less likely to default on levies.
And finally, first-time buyers particularly should
carefully consider the size of the unit they buy.
A studio flat may appeal because of the lower price,
but a one- or two-bedroom unit will be much easier
to resell.
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3.
Do Your
Own 'Homework' on Local Schools
The availability
of good schooling is often a critical factor in deciding
the area in which you live, and information about school
results and fees is much more readily available than
it used to be. Many schools now even have their own
web sites.
However, parents still need to ensure that a particular
school will meet their - and their childrens' - needs
and expectations, and education experts say there is
no substitute for a personal visit.
This will give parents an opportunity to observe how
well the school buildings are well maintained, the neatness
and appearance of classrooms, the toilet facilities
and the state of the playing fields. Temporary buildings
and poorly-maintained grounds can indicate a tight budget
and perhaps future calls for extra funding.
Academically the school must, of course, offer the subjects
the children require, and a good sporting record can
indicate a school which inculcates pride among its pupils.
Parents should ask about the number of students in each
class, the homework expectations and how pupils show
what they have learned. Are there opportunities for
field trips? And how much time is spent on individual
rather than group tuition?
It is also worth asking how long the principal has been
at the school, what staff turnover is like, whether
teachers are encouraged to seek additional qualifications,
and whether there is a formal discipline system in place.
And finally, parents should check for themselves on
the demeanour and behaviour of the current pupils, as
these often say most about the quality of a school.
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4.
Restrictions
on Sale of Business Premises
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Small businesses
increasingly buy houses rather than operate from rented
premises, but the owners should be aware that they
cannot resell the property without advertising the
sale in the special way prescribed by the Insolvency
Act.
The intention is obviously to stop business owners
who believe their company is in danger of being liquidated
from selling off land or buildings that form part
of the business and thus "siphoning off" proceeds
that might rightfully belong to creditors of the business.
And it does apply even if the owner of the property
is not the company or close corporation but the proprietor
of the business in his or her private capacity.
To further drum home the message, the courts have
made it clear that if a business owner sells and transfers
ownership of a building from which the business operated,
and that owner is later declared insolvent, the transfer
can be set aside by the trustee of the insolvent estate.
This makes it imperative for both the sellers and
buyers of "business houses" to deal only with qualified
and experienced estate agents familiar with the law
regarding such properties.
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5. Gardens
that Save Water - and Money
The cost
of maintaining an attractive garden has not escaped
the ravages of inflation, with water being an increasingly
scarce - and costly - resource.
This is a major reason for the increasing interest in
"water-wise" or xeriscape gardening, with its emphasis
on indigenous plants and minimum extra watering.
First outlined by the National Xeriscape Council in
the US, the concept revolves around the use of plants
that require only the amount of water available from
rainfall in any specific area, to create gardens that
are water-efficient but still oases of pleasure.
Largely based on common-sense, the system does require
some planning and perhaps more a little more knowledge
of soil types and plants than the average gardener initially
possesses.
It means grouping plants with similar water demands,
improving the soil (because loamy soil uses water most
efficiently), and the use of mulch to reduce water evaporation.
And it means selecting grass cultivars for lawns that
are drought-tolerant and adapted to the region in which
you live.
However, South Africa is fortunate in having a wide
variety of indigenous plants which are both drought-tolerant
and decorative, and the continuing cost savings will
more than compensate the gardener who takes the time
to learn how to create a beautiful garden in harmony
with the natural environment.
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