Lower deposits, longer transfers, quicker capital appreciation, no transfer duty costs and choosing the best units on offer are some of the many benefits of buying property off-plan from developers. In order to indulge in these benefits, property purchasers need to consider some vital factors when interested in a new development. Experienced developers, Rabie Property Group, share the top 5 tips for buying off-plan.
The first tip is to decipher if an opportunity is a great one by doing the necessary background research. One of the most important things to determine is who the developer is and then assessing their track record in terms of what products they have delivered and if they have successfully achieved what they have set out to in the past. Look out for signs of a good developer by analysing the professional teams they have chosen to partner with such as architects, construction companies, quantity surveyors and marketing agencies. These partnerships are good indicators of a developer’s reputation and whether one should invest in the respective development.
Tip two is to ensure that property investors will benefit from the capital appreciation between when a price is secured with a deposit and when it is completed. This can be achieved by purchasing off-plan as early as possible as the longer the off-plan time, with the optimal being 18 to 20 months, the better.
The third tip is to analyse the location of the development. The vital factors to consider when analysing location include the demand of the area and if it is supported by appropriate road infrastructure, schools, shopping centres and preferred amenities that the purchaser wants in close proximity to their living space.
Tip four is to choose a development that brings something unique to the area in which they are created. Great developments worth investing in have desirable elements and purchasers need to be certain that there is a demand for the property in terms of resale or rent. Being certain that there is a demand for the property in terms of resale or rent also adds value to it.
The fifth tip is that, oftentimes, buying off-plan is more affordable than purchasing an existing property. One of the best savings from purchasing a property off-plan is that there is no transfer duty payable and until the construction is complete, and therefore bond repayments are delayed. This gives investors between 18 to 24 months to structure budgets and cash flows.
Rabie Property Group, Trinity Projects and Kloof Capital Real Estate have joined forces to bring Kuils River’s Stonepine Crescent to life in one of the fast-growing nodes in the Western Cape – the perfect opportunity for investors to benefit from off-plan purchasing.
Director at Rabie, Miguel Rodrigues, says: “It’s our first development in Kuils River and, together with our long-standing partners, we are looking forward to bringing a beautifully landscaped, secure estate to this established family-focused neighbourhood”.
With the Western Cape seeing an increase in semigration (from 31% to 35%), Stonepine Crescent provides a haven for investors as it is a homecoming for a new generation of homeowners through its offering of green outdoor spaces, viewing decks over ponds, outdoor patios and built-in braais.
Stonepine Crescent offers pet-friendly freestanding homes consisting of 2- and 3-bedroom units with two bathrooms, starting from R2 million. This development is situated in Neethlingshof Street, Kuils River, and has convenient access to shopping centres and schools. A deposit of only 5% is required. Stonepine Crescent – your place to make home.
BENEFITS OF INVESTING
Stonepine Crescent is perfect for young couples investing in their future for the first time or for people looking to embed themselves in an active community.
• Trusted and professional developers
• No transfer duty
• transfer costs included
• Only 5% deposit
Freestanding homes within estates achieve a 7,7% premium over those situated out of estates.
For more information, visit www.stonepine.co.za.
ABOUT STONEPINE CRESCENT
Stonepine Crescent is a new joint venture of Rabie Property Group, Trinity Projects and Kloof Capital, in the Western Cape. The development offers secure private estate in the highly sought after suburb of Jacarandas, Kuilsriver. Stonepine Crescent is launching in October 2022 and will consist of free-standing turnkey houses with exclusive gardens and modern finishes from about R2-million. The development is in close proximity to shopping centres, schools and local wine farms.
