When it comes to buying a home in South Africa, there's more to consider than just location and square metres, according to Just Property.
Cons: Higher maintenance costs, as all upkeep is your responsibility. You'll also bear the full brunt of rates and taxes. If you buy property in a gated estate, what you are allowed to do may be governed by the rules of the body corporates.Noziqhamo Moss of Just Property Port Elizabeth shares, “Freehold properties offer a true sense of independence.
Built-in amenities are a bonus, and having other owners nearby in a gated community or block usually offers better security than living in a freehold property. Plus, the barrier to entry is lower as sectional title units can be less expensive than freehold. 'They strike a good balance between affordability and convenience, making them a great choice for many. It’s worth noting that Lightstone data shows that for the first time in two decades, sectional title property prices rose faster than freehold.”What it is: Apartments are a subcategory of sectional title, offering a compact living space within a larger building.
Source: Real Estate Daily Report (realestatedailyreport.net)
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