Monday, June 30, 2008
An Investment For Life
If youre lucky enough Noble1 be Noble1 considering buying Noble1 second home there are plenty of people all over Noble1 world who have two words Noble1 you: Cape Town. Cape Town is one of those brilliant cosmopolitan cities where cultures blend yet retain their independence, where art Noble1 history are steeped into the very air, while modern Noble1 and shops abound. Noble1 can find a coffee shop Noble1 virtually every corner and the city boasts an eclectic assortment of restaurants that serve food from all over the world. The diversity in the people is just as broad with aging hippies, young hippies, Goths, rockers, executives, and regular folk going about their business in a steady stream. Cape Town caters for everyone and everyone is at home in Cape Town.
The property market in Cape Town has been growing steadily over the last few years. Prices can range from R30 million for a villa with a view that is second to none to perhaps R800 000 for an average one-bedroom apartment in the city bowl. Growth on your investment is virtually guaranteed, however, the type of investment you make will depend on several factors, such as your financial position, financial requirements and your long-term goals.
Space for expansion in Cape Town is limited, therefore property is at a premium and demand keeps on increasing as more people choose to live there. It is an ideal place to spend the Northern Hemisphere winters. In Cape Town the summers are hot, but not too hot, as they are cooled by the sea breeze. There should be little to no rain as Noble1 gets its rain in winter. The weather should be perfect for summer hibernating. The houses along the coast vary in size from comfortable cosy cottages to luxurious and opulent villas and mansions. Prices vary accordingly.
The coast isnt the only region known for its beauty and luxury; inland there are breathtaking vineyards and valleys with houses to match. There are also some very exclusive golfing estates, which have gained in popularity over recent years as the housing choice of the rich and affluent. They are seen as secure, but with a carefree feel to them, and there is plenty of space for children to play.
If you want to limit the amount of time that you spend in your car every day, commuting to and fro, then you might want to avoid buying property in the suburbs. Each suburb has its own shopping facilities but for a decent shopping experience, with large supermarkets and boutiques and movies, you would have to go to a mall or the City and that does involve some travelling. It is recommended that you buy a middle-income apartment between R800 000 R1 300 000, within the city bowl and surrounds. Apartments near to public transport and other amenities are also a very good investment. Properties within the city are in great demand and are easily leased. It is a good idea to furnish the property and let it out, either as a furnished flat or as a furnished self-catering holiday accommodation.
Its not advisable to try and manage the property on your own. It is best to hire a managing agent from a professional company who will collect the rent and see to the maintenance of the property.
An alternative that is offered to buying your own property is fractional ownership. This is where you can own a fraction of a property at a fraction of the price by purchasing shares in a company that owns the property. They say that if you are going to use your holiday home for fewer than 60 days a year then you should seriously consider fractional ownership.
But the one major advantage of actually buying property as opposed to simply buying shares in a company that owns property, is that at the end of the day, you own it. It is yours. For ever. You can do with it just as you will. There are no rules, no regulations. You dont have to consider anybody else if you want to knock a wall down or put a picture up. Its your investment for life. You can move into it when you retire or you can sell it and buy something smaller and more comfortable and add the profit to your retirement savings. Its all up to you and thats the beauty of independence.
Recommended site:
http://propertyfactor.co.za/article_detail.php?article_id=39
Sandra wrote this article for the online marketers Cape Town Investment Properties investment property in Cape Town one of the most exclusive and professional property investment companies in South Africa
