Security most influential factor for estate buyers
For the vast majority of home buyers in South Africa, security has become the most influential factor when it comes time to deciding where to purchase a home. With so many South African families affected by crime either directly or indirectly, home buyers in this country have become some of the most security conscious in the world.
This is why many homebuyers are opting for security estates, says Lee Siebert, Broker/Owner of RE/MAX Helderberg, whose office services Somerset West and the surrounding areas.
“Most buyers want to purchase a home in a development that allows their children to play and interact with other children within a safe environment. Buyers are attracted to security estates, first because of the safety aspect they provide, and secondly because of the lifestyle these kinds of estates have on offer.”
Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa, says that properties with top-end security features that are located with security estates often fetch a higher premium than other types of properties and generally have a greater return on investment over the long term. “It seems evident that the security of a home and its location, directly affect the perceived value of that property,” he says.
Siebert agrees, saying that in her experience homes within security estates generally have a higher growth curve over the long term, than other freestanding properties that are not located within an estate. “Due to the high demand for properties within security estates, these homes values will generally outperform other types of homes within the same area, making them a good investment option,” says Siebert.
She notes that homes within security estates in Somerset West range in price from approximately R1.8 million to around R3 million depending on the size and features offered. “These prices are within the mid to upper-level range of properties available in the area. We find that many buyers will start at the lower end of this price range and will work their way up as their financial situation and family criteria changes,” says Siebert. “Security estate properties within this price bracket are generally between one and five years old, have three to four bedrooms and feature stands ranging in size from 400 to 600 square metres, and a home under-roof of between 160 and 250 square metres.”
According to Siebert, homes that are more attractive to buyers are those that feature modern design and quality finishes throughout. “Homeowners who have spent a relatively small amount on upgrading the finishes in their homes have seen a significant increase in the value of their properties,” she says
Talking about a specific estate that she believes will provide buyers with an excellent value-for-money offer, Siebert points to Kelderhof Country Village, due to the newly established Curro School and planned shopping centres. There is currently sufficient supply of property in the estate, which is located within proximity to Somerset West, just 30 minutes from Cape Town. Other high-profile estates that Siebert says will be highly sought after this year are Croydon Vineyard Estate and Sitari Country Estate, both of which offer high-quality, upmarket homes. Although not yet complete, Siebert says that Schonenberg Estate in Somerset West offers buyers modern, high-quality properties within an exclusive and secure environment.
(Photograph: A R4,995m home in Schonenberg Estate on a 1125 square metre plot being marketed by RE/MAX)