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I IIssue: September
2006 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. Make sure
you stay on top of bond repayments
3. It’s
almost braai season - but don’t burn your fingers
4. How to
take stock of your possessions
5. What
you should ask about your contractor
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1.
Welcome By Publisher
Our expo team came back from London
this month flushed with success, having sold R10m
worth of SA property during the three days of the
Homes Overseas exhibition at Earls Court.
Although other SA real estate companies had advertised
that they would take part in the expo, we ended up
being the only local company represented there –
and being sought out by a constant stream of potential
buyers, many of whom had already been to SA, scouted
around, and made definite plans to acquire local property
when the time was right.
Which it now is, of course, with the SA enjoying a
higher world profile and the rand to pound exchange
rate at almost 14 to 1. In fact, it almost seemed
as though people had just been waiting for us to open
our doors so they could come and buy.
At the same time, the expo team also secured scores
of mandates from SA experts and UK owners of SA property
who are mostly looking to upgrade to bigger properties
or buy more rental units. And on top of that, more
than 300 people briefed the team to find specific
properties in SA for them. So no
matter what others may say, our participation in the
expo was definitely worthwhile for our local clients
– and what’s more, we expect similar results
from the Second Home International show in Utrecht,
Holland in October. We’ll keep you posted…
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2.
Make sure
you stay on top of bond repayments
With property prices at a high level and interest
rates on an upward curve, new and existing homeowners
should be taking especial care now to stay on top
of their bond repayments.
First-time buyers, in particular,
need to budget carefully to ensure that in the excitement
of moving to their home, expenses for furnishing,
decorating and home improvements don’t undermine
their ability to pay these most important instalments.
In fact, it may be an even better plan for homeowners
to forget about buying that new lounge suite or installing
that carport for a while, and make provision instead
for increases in property taxes and insurance payments.
What is more, if they can scrape together even a small
extra amount every month to pay into their bond, the
long-term savings will be substantial. The reason
is that any extra money paid into the bond goes towards
paying off the borrowed capital, reduces the interest
and thus enables the homeowner to pay off the loan
well before the end of the bond term.
On the other hand, skipped or late payments will attract
additional interest and, in some cases, penalties
– which at the very least will add to the homeowner’s
debt burden and increase his or her monthly
liabilities instead of decreasing them, and could
eventually lead to the home being repossessed.
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3.
It’s almost
braai season - but don’t burn your fingers
Summertime and the braaing is easy…
or is it? With sunny skies and fair weather around the
corner, now’s the time to make sure those long
relaxing afternoons around the braai won’t end
in mishap.
Whether you prefer a good old-fashioned braai with hardekool,
or the convenience of charcoal or gas, there are inherent
risks - and a bit of forethought and precaution can
prevent nasty injuries or, even worse, calamity.
Wood and charcoal produce carbon monoxide when burning
and adequate ventilation is vital. On the other hand
the increasingly popular gas grill can pose a serious
health hazard through mechanical failure if it is not
properly maintained.
The following checklist will go a long way to ensuring
safe braais this summer:
- If using a portable braai, make sure it is placed
on a firm, level surface before you light the fire;
- Never use petrol to ignite a fire and make sure
all coals are extinguished after the food is cooked
– don’t leave a smouldering fire unattended;
- Check hoses and tubes on gas appliances, making
sure there are no blockages caused by insects or accumulated
fat. Clean obstructions with a pipe cleaner;
- Replace all hoses and tubes showing signs of wear
and tear and make sure they are not bent so as to
obstruct gas flow;
- Also make sure hoses will not be exposed to heat
when the appliance is lit – fit a heat shield
to protect them if necessary;
- Check for gas leaks before using the appliance and
have it repaired by a professional if necessary. Never
try to fix the problem yourself;
- Don’t use a grill indoors, whether it is fuelled
by gas or charcoal. Also keep it away from any structure
that can catch fire, such as a thatched lapa;
- Store gas containers upright and preferably not
in the house. Also never store a gas container under
or near the grill
In addition, the cook at a braai should
wear a heavy apron and an oven glove that reaches high
up over the forearm to prevent burns from flames or
spattering fat.
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4.
How to take
stock of your possessions
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The first thing homeowners will be
asked to do when they apply for household (short-term)
insurance is to compile an inventory of their possessions
and to calculate the total value.
And it can be tricky to assign appropriate values
to your goods. That comfortable old chair that cost
next to nothing at the second-hand shop, for example,
may be worth more than you think because for insurance
purposes you must calculate its replacement value.
The easiest way to compile an inventory is to tabulate
the contents of each room, listing the various items
you want insured, the original cost of each and as
far as possible, the current replacement value.
Remember that if the estimated value is too low, the
insurance company will probably not cover the full
replacement cost in the event of a claim. On the other
hand if it is too high, your insurance premium will
be unnecessarily high.
A useful tip is to scan advertising supplements to
get an idea of the current cost of small and large
appliances, furniture that corresponds with your own,
and items such as light fittings.
Unique items such as custom-made jewellery may pose
a problem but the best course of action in that case
is to take the purchase price as a base and adjust
the figure for inflation, or even better, to take
the item to a jeweller and have it appraised.
It is a good idea to update the inventory at least
annually to take inflation and rising replacement
costs into account, and to adjust your insurance cover
accordingly.
And finally, you should make sure you keep a copy
of your inventory in a safe place off-site because
this can go a long way to speed up the claim process
if all your possessions are stolen or destroyed
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5. What
you should ask about your contractor
Homeowners contemplating
renovation projects are frequently advised to check
contractors’ references before allowing them to
start work – but hardly ever told what they should
actually ask the referees.
However, as recent headline cases have illustrated,
it’s increasingly important that they do run such
checks, so here’s a useful list of questions to
start with:
- Was the project undertaken recently
or long ago?
- How did the client hear of the
contractor – word-of-mouth, advertising etc?
- Was a detailed quote issued before
the contract was signed and did the contractor explain
all terms of the contract, including any guarantees?
- Did the project start on the agreed
date and was it finished within the
contract period?
- Did the contractor stick to the
budget?
- Did the contractor and his crew
report to the job on time each day?
- Was the contractor accessible throughout
the project or did he vanish for days
on end?
- If the project was delayed, did
the contractor satisfactorily explain why and did
he attempt to charge extra for the additional time
it took to complete the job?
- Did the client experience any nasty
surprises such as extra charges, poor workmanship
or materials differing from specifications?
- Did the contractor leave the site
tidy once the project was finished?
- Would the client hire the same
contractor for another project?
If these questions are answered
to your satisfaction, chances are that you have found
reliable contractor. But if not, and you have to keep
looking (and asking questions), remember that a few
extra phone calls are likely to cost you a lot less
than a botched job.
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