Debra Hart - Just.Property Heritage

As we step into the season of new beginnings, let’s celebrate the opportunity to refresh and renew our spaces—whether it’s sprucing up your garden, finding your dream home, or investing in a new property. Spring is the perfect time to plant the seeds of growth and watch your investments flourish. 🌱

Here’s to embracing the beauty of change and the possibilities that lie ahead this spring! 🌷

Types of Property Defects:

1. Latent Defects: 🕵️‍♂️
These are faults that are not immediately apparent and would not be discovered through a reasonable inspection of the property. They are hidden issues that may only become noticeable after the sale or over time. Examples include hidden structural damage or underlying plumbing issues.

2. Patent Defects: 🔍
These are visible flaws and should be easily identified during a reasonable inspection. Patent defects are not hidden and can typically be spotted by a prospective buyer or inspector. Examples include cracked walls or broken windows.

In summary, patent defects are visible and obvious, while latent defects are hidden and not immediately discoverable.

"Voetstoots" is a term used in property transactions, and it translates to "as is" or "with all faults" in English. When a property is sold voetstoots, it means that the buyer accepts the property in its current condition, including any defects or issues, indemnifying the seller against claims for damages in respect of any defects on the property, whether patent or latent.

Courts have ruled that a seller cannot rely on the voetstoots clause if the seller is aware of a latent defect and deliberately conceals or fails to disclose it.

Looking to buy or sell property? Trust Just Property, we'll always keep your interests in mind:
📧 [email protected] | 📲 011 431 0804

➡️ https://www.just.property/offices/heritage/2497/

Tips for Settling into Your New Community!

Get Out and Explore: Familiarise yourself with nearby parks, shops, and restaurants. Integrate into the local community to discover hidden gems and make new connections. Attend local events and join community groups on social media to meet people.

Stay Informed: Understand local politics and concerns by consuming local news. Subscribe to the local newspaper, listen to community radio stations, and join online forums to stay updated.

Create New Routines: Establish new routines to combat feeling unsettled. Incorporate favourite activities, find a new gym, or visit a local coffee shop regularly. This provides stability and helps you become familiar with your new town.

Adapting to a new environment can be easier with the help of a local real estate expert who can offer guidance and connections!

📧 [email protected] | 📲 011 431 0804

➡️ https://www.just.property/offices/heritage/2497/

📸 Team Just Property Heritage in action! We're all smiles and ready to master the art of social media. Thanks to our "Mastering Social Media" workshop, we're more equipped than ever to serve you better! Just Property Heritage

Preparing to Buy Property in South Africa? Here are 7 Key Financial Tips:

1. Calculate Debt-to-Income Ratio: Determine how much of your income goes to debt. Pay off quick debts to free up more income!
2. Align Purchase with Financial Goals: Be realistic about your spending habits. Cut unnecessary expenses to save for your property.
3. Set Home Priorities: Decide what matters most. Compromising on home features might free up budget for travel or luxuries.
4. Save for a 10-20% Deposit: A larger deposit means a lower loan amount and lower monthly repayments.
5. Budget for Additional Costs: Include transfer duties, legal fees, and other costs in your budget.
6. Get Pre-Approved for a Home Loan: Work with a bond originator to find the best loan for your budget.
7. Plan for Ongoing Costs: Prepare for property taxes, insurance, and maintenance expenses.

Time to delve into the world of prime lending rates with Just Property! 🌟 Discover the latest update: unchanged at 11.75%. Stay informed with us.

The South African Reserve Bank MPC decided to 𝗵𝗼𝗹𝗱 the repo rate unchanged at 8.25%. This means the prime lending rate is unchanged once again at 11.75% until the next meeting on the 19th September 2024.

It remains a great time to buy property! 🏡

Contact Just Property today to chat about your options: https://just.property/offices/

"The youth of today are the leaders of tomorrow." - Nelson Mandela 🌟

Nelson Mandela taught us the importance of compassion, justice, and unity. On , let's focus on our future leaders. Whether it's through supporting early childhood development, ensuring food security, or advocating for just cities, every action counts.

Together, we can make a lasting impact on the future!

The 3 Main Advantages of Buying a Fixer-Upper Home

1. Great Price: Fixer-uppers are often priced lower than move-in ready homes, making them an excellent choice for first-time buyers or investors looking for a deal. Sellers are usually willing to negotiate, aware that their properties need work.

2. Creative Freedom: Customise your home to your liking! From simple cosmetic changes to major renovations, you can bring your vision to life. Reassign rooms, change colour schemes, and make the space uniquely yours.

3. Profit Potential: Renovate and sell for a profit! Flipping fixer-uppers has gained popularity, offering the chance to upgrade and resell for a tidy profit. With creativity and effort, the opportunities are endless.

Considering a fixer-upper? These advantages might just make it the perfect choice for you!

Thinking of buying a move-in ready home? Here are the pros and cons!

Pros:
• Convenience: Perfect for those who need to move in quickly and avoid the hassle of renovations.
• Predictable Costs: Fewer chances of unexpected expenses; what you see is what you get.
• Modern Amenities: Updated appliances and contemporary finishes mean no immediate upgrades needed.

Cons:
• Higher Purchase Price: You pay a premium for the convenience and updated condition.
• Limited Customisation: Fewer opportunities to personalise the space to your exact tastes.
• Less Investment Potential: Limited potential for significant value increases compared to fixer-uppers.

Considering a move-in ready home? Weigh these pros and cons to make the best decision for your needs!

Thinking of buying a fixer-upper property? Here are the pros and cons!

Pros:
• Lower Purchase Price: More budget-friendly, ideal for buyers or investors looking for a deal.
• Customisation Potential: Tailor the property to your tastes with your choice of finishes, materials, and layout.
• Increased Value: Potential for significant value appreciation with the right renovations.

Cons:
• Renovation Costs: Renovations can be costly and often come with unexpected expenses.
• Time and Effort: Renovating requires time, effort, and can be stressful, involving permits and managing contractors.
• Immediate Livability: Fixer-uppers may not be livable right away, requiring alternative accommodation during renovations.

Thinking of buying a fixer-upper? Weigh these pros and cons to see if it’s the right move for you!

What Do Tenants Look for in a Rental Property? 🏠

Tenants prioritise price and security when choosing a rental property, followed closely by the size and space of the property. This means property developers and managers should focus on:

• Offering competitive rental prices
• Ensuring top-notch security measures
• Providing spacious and well-designed properties

Financial incentives like one month's free rent, no deposits, and new, green developments aren't top priorities for tenants.

Focus on what matters most to attract and retain tenants!

Did you know paying rent is not the biggest challenge tenants face? Instead, it's landlords not attending to repairs and maintenance of the property.

Paying rent on time is their second biggest challenge, followed by access to parking and availability and a lack of control over utility costs.

If you want to become a landlord, you need to understand the challenges tenants face so you can ensure your property meets all expectations and stays rented!

If you're looking for rental management assistance, contact the leading rental agency in Southern Africa:

📧 [email protected] | 📲 011 431 0804

What are the main advantages of investing in real estate?

Cash Flow: Real estate can make you money regularly through rent or by selling it for a profit after paying off the home loan. This income is usually steady and reliable.

Property Value Increases: Over time, the value of properties usually goes up, making your investment worth more the longer you own it.

Tax Benefits: You can write off certain expenses, like interest and maintenance costs, from your taxes as a real estate owner.

Leverage: Paying off your home loan builds equity, which you can borrow against if needed. You can also sell properties or units within a building to get cash.

Inflation Protection: When prices rise due to inflation, both your rental income and property value usually increase too, keeping your income steady and protecting your investment.

Looking for more property investment advice? Contact Just Property Heritage today:

📧 [email protected] | 📲 011 431 0804

Get ready to buy your dream home! Here's what you need to do:

1. Check your finances: Analyse your income, expenses, and debts to create a budget for home loan repayments, taxes, insurance, and maintenance.
2. Boost your credit score: Regularly review your credit reports, fix any errors, and make timely payments to secure better home loan rates.
3. Start saving: Saving for a deposit is key. Aim for 15-20% of the home's price and explore different loan options.
4. Research home loan options: Understand fixed-rate vs. variable-rate home loans to make an informed decision that aligns with your financial goals.

Want to know how to go from tenant to homeowner? Contact Just Property Heritage today!

📧 [email protected] | 📲 011 431 0804

Buying a property comes with some risks. Changes in the economy or increases in interest rates can make it hard to keep up with payments. It's wise to buy a house that's less expensive than what you can actually afford. This way, you can manage your money better and be prepared for unexpected costs.

Before you decide to buy, take a good look at the neighbourhood, the house prices around there, how much house values are going up, and the house itself. Don't spend too much money on a house unless you really love it and can handle the extra costs until the house's value goes up to match what you paid.

It's important to keep the house in good shape. If you let it fall apart, its value will drop, and not many people will want to buy it. Regular maintenance helps keep its value.

Invest more into the house over time. Putting extra money towards your mortgage can help you pay it off sooner. Keep the house in good condition and make updates when you can. If you're buying to rent it out, remember that there might be times when no one is renting your property or the rent you get doesn't go up much.

Contact Just Property Heritage today to chat about how to minimize your risk:

📧 [email protected] | 📲 011 431 0804