When you purchase an off plan development in Gauteng, you are buying a new property based on the building plans. This is a property that is in the early stages of construction or has not been built yet. Essentially you are buying a future development at today’s prices and it’s payable tomorrow, which is to say you’re benefiting from the capital appreciation and return on investment.
Answering the market demand for more new estate offerings within Waterkloof, Waterkloof Park is a new off-plan development offering apartments for sale in Pretoria, within a secure estate.
Here are some of the key benefits of taking the time to envision what a new development’s outcomes will be, as the off-plan purchase can be a lucrative investment for your future.
Location plays a part
There’s a great deal to take into consideration, for example, location is one of the key aspects to consider when purchasing an apartment in Waterkloof, off-plan or not. Waterkloof Park is situated in a coveted neighbourhood hosting rich history, charming green scapes, jacaranda trees, convenient amenities, close-knit community and is situated on Dely Road with links to the N1 and Garsfontein Road and the Menlyn node. Waterkloof Park homeowners or renters will have easy access to their day-to-day necessities, within a few kilometres.
Buying off-plan is affordable
One of the perks of purchasing off-plan is that you’re buying directly from the developer which means you are paying less for your brand-new home than an existing unit you might still need to renovate. What’s more, reservations are often low, such as Waterkloof Park where you can secure your purchase with a R20 000 reservation fee.
You can lock it in
Usually, once you’ve purchased an existing apartment in Pretoria, the bond repayments begin, whereas, with off-plan property purchases, you only begin bond repayments when the construction is complete and you have taken transfer of your home. This allows you to lock in the deal and can give you up to two years to plan yourself financially. For investors, it is ample time to adjust cash flow.
Appreciation over time
Property prices in secure locations almost always increase year-on-year. When you buy off-plan and begin making payments two years later, you’re going to be getting more than you paid for in the current marketplace. It’s capital appreciation without a massive cash outlay that makes it attractive to real estate investors.
No transfer duty
When you buy directly from the developer, you don’t have to pay transfer duty. Just remember, you still have to pay VAT, but this will be included in the purchase price, so you don’t feel its impact on your pocket. At Waterkloof Park, there will be no transfer duty and bond costs are included when purchasing exclusively into Waterkloof Park.
Modern and appealing
New residential property developments are contrasted using the latest building materials and are often on trend and you can be sure of a new, modern interior and fittings. The longevity of the unit means you won’t have to do maintenance for a good few years. Often, you can choose the fittings and tiles. At Waterkloof Park, the developers have considered electricity and water disruptions and costs.
In the apartments they have included gas stoves and solar geysers with electricity backup as well as waterwise fittings and water backup, to mitigate the risk and reduce costs for occupants.
Good developers, good experience
Finally, remember to always use a reputable developer who knows the rules and regulations. Usually, penalties apply if an investor wants to withdraw from the contract for whatever reason. So do your homework, research the developer and ensure they are NHBRC registered; look at the infrastructure such as roads in the area you are buying and ensure you understand the building plans and metres squared, well before signing on the dotted line.
Before committing to a property investment on paper, you should also consider the lifestyle, the travel routes necessary for those living in the building and even the layout of the apartment itself, which will make for pleasant and practical living.
Waterkloof Park in Pretoria comprises 2 and 3-bed apartments from R1 867 900 and is pet-friendly with an open-plan interior and private balcony, ideal for those with furry friends.
