HOMESTEAD VIEWS SECURITY ESTATE: AN UPDATE

If you are a local, you will have seen activity at the corner of the R330 and Homestead Rd: the installation of roads and services, due for completion in June.

In other words, the pipes for water, electricity, sewerage as well as fibre, are currently being installed for the 57 freehold freestanding homes and for the five double storey apartment blocks (comprising 46 apartments). The roads are also being installed, but the top layer, the brick paving, will only be installed after the houses have been completed to avoid damage.

Three bedroomed houses are priced from R2.35m to R3.7m and apartments from R1.5m to R2m. The prices are “all-in” ie they include VAT (there is no transfer duty) and include legal fees. They are being marketed exclusively by Pam Golding Properties.

Background

This property has been zoned residential since 2001, and Homestead Views is the last phase of the adjacent Homestead Village, developed 16 years ago, and which has its entrance in Reservoir Road. Homestead Views has its own entrance in Homestead Road and its own home owners association, and slightly different architecture.

The timing of this development could not be better, with our stock of houses to sell at an all-time low, after our record sales over the last two years.

The reason for the excellent response from buyers is the affordability and the excellent value, with prices being all-in, including the plot, VAT (no transfer duty) and transfer costs. Bond costs are payable by the buyer, if applicable.

It is a very appropriate development, being adjacent to existing developments and homes, and within easy walking distance of the centre of town.

We at Pam Golding Properties have built a wonderful relationship with the developers, Ntaba Holdings, over the last two years on St Francis Links, where they have been active, and are delighted to be working with them again on this exciting project. We have shown our commitment to the development with three of us at Pam Golding Properties buying units.

More General Info

All plots have been pegged and numbered by the surveyor.

There will be a solid perimeter wall with electric fencing on top, erected around the estate. The existing back fence of Homestead Village will come down and the two Estates will “merge” so residents will be able to walk into the existing Homestead Village.

Airbnb and long term rentals will be allowed.

Cash Flow

Houses:

R550 000 (land price) payable within 7 days of signing.
Guarantee for the balance of the purchase price within 30 days. Or bond finance.
The Conveyancer will call for 20% of the building price just prior to the start of construction.
Thereafter six draws during construction.

Apartments: