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The Rep 30 March 2018

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THE REPRESENTATIVE <strong>30</strong> <strong>March</strong> <strong>2018</strong> Tel: (045) 839-4040 Emergency: (A/H) 083-272-0955 ° Editorial: sonjar@tisoblackstar.co.za - advertising: charodinev@tisoblackstar.co.za 13<br />

PRIMEPROPER TY<br />

Consider this before you build<br />

IF YOU are<br />

fortunate enough<br />

to own a piece of<br />

land in an urban area<br />

or would like to buy a<br />

stand and build the<br />

house of your dreams<br />

from scratch, there<br />

are a few important<br />

factors to consider<br />

when applying for a<br />

building loan from<br />

your lender.<br />

FNB Home Loans<br />

CEO Marius Marais<br />

says although the<br />

process of securing<br />

building finance<br />

differs slightly from a<br />

traditional home<br />

loan, it is still<br />

governed by the<br />

National Credit Act<br />

and the same<br />

banking policies and<br />

lending criteria still<br />

a p p l y.<br />

“When applying,<br />

you will need to use<br />

one of the channels<br />

available and ensure<br />

you have the<br />

following documents:<br />

ý A quotation from<br />

a builder who is<br />

registered with the<br />

National Home<br />

Builders Registration<br />

Council (NHBRC);<br />

ý Building plans<br />

and a supporting<br />

schedule of finishes;<br />

ý “A contract<br />

between the builder<br />

and yourself,” he says.<br />

Furthermore, a<br />

minimum 10%<br />

deposit which takes<br />

into consideration the<br />

value of the land and,<br />

in addition, a<br />

contract amount may<br />

be required upfront.<br />

“Once the building<br />

loan application has<br />

been approved, the<br />

land transferred into<br />

your name and the<br />

bond registered,<br />

there a few important<br />

factors that you need<br />

to take note of,”<br />

explains Marais:<br />

ý <strong>The</strong> loan will be<br />

offered in stages,<br />

through progress<br />

payments, until the<br />

building has been<br />

completed. <strong>The</strong> facility<br />

will then be converted<br />

to a normal 20-year<br />

home loan;<br />

ý Building must<br />

commence within<br />

three months after<br />

registration of the<br />

bond and completed<br />

within 12 months to<br />

avoid penalties;<br />

ý <strong>The</strong> building<br />

contractor should be<br />

insured for unforeseen<br />

events through<br />

Contractors All Risk<br />

Insurance Cover for<br />

the duration of the<br />

project. <strong>The</strong> onus falls<br />

on you to take out<br />

Home Owner’s Cover<br />

once the building has<br />

been completed.<br />

A bank loan for your dream home has numerous requirements<br />

ý <strong>The</strong> builder must<br />

enrol the project with<br />

the NHBRC, which<br />

provides a five-year<br />

warranty over<br />

structural defects<br />

from the date of<br />

o c c u p at i o n ;<br />

ý It is your<br />

responsibility to<br />

ensure that the<br />

builder understands<br />

and complies with all<br />

the bank’s conditions<br />

of the loan;<br />

ý Prior to any<br />

progress payment<br />

being paid out by the<br />

bank, a valuer should<br />

inspect the building<br />

progress and report<br />

back to the bank;<br />

ý You can apply for<br />

progress payments at<br />

any stage during the<br />

construction process,<br />

provided that<br />

sufficient work has<br />

been completed and<br />

the bank is satisfied<br />

with the progress. A<br />

maximum of six<br />

progress payments<br />

are often allowed,<br />

based on the work<br />

completed. Additional<br />

progress payments<br />

will attract a fee;<br />

ý You need to pay<br />

interest on the drawn<br />

building loan balance<br />

until the project is<br />

completed, with<br />

normal interest<br />

payable thereafter;<br />

ý Once the building<br />

work has been<br />

completed, you need<br />

to confirm that you<br />

are satisfied and at<br />

this point you could<br />

provide a list of snags<br />

to be fixed. It is<br />

important that this is<br />

communicated to both<br />

the builder and the<br />

bank;<br />

ý A retention<br />

amount may be<br />

withheld in order to<br />

ensure that the<br />

builder completes the<br />

outstanding work.<br />

It is advisable to<br />

consult an attorney<br />

prior to signing any<br />

agreements with the<br />

builder, as these can<br />

potentially work<br />

against you in future.<br />

“Should you decide<br />

to change the<br />

building contractor or<br />

make any drastic<br />

changes to the<br />

original plan, you<br />

need to inform your<br />

bank.<br />

“<strong>The</strong> bank may<br />

re-assess the facility<br />

and either approve or<br />

disapprove the<br />

request, based on<br />

how it impacts the<br />

overall building costs<br />

and market value of<br />

the property,”<br />

concludes Marais.<br />

PROPERTY FOR SALE<br />

BERGSIG<br />

R1 600 000<br />

KOMANI<br />

PARK<br />

R1 200 000<br />

MADEIRA<br />

PARK<br />

R890 000<br />

KWATHEMBA<br />

R700 000<br />

RENTALS<br />

Vusumzi Zikiza (Principal) - 082 674 4352<br />

CRAIG<br />

083 508 8125<br />

WISHING ALL OUR VALUED CLIENTS A VERY<br />

BLESSED EASTER AND SAFE TRAVELLING<br />

VERONICA<br />

082 609 9552<br />

TOP TOWN R950 000 BERGSIG R1 550 000<br />

2 1 1 3 2 2<br />

JUST MOVE IN AND BE<br />

LOVELY TOWNHOUSE WITH<br />

COMFORTABLE in this immaculate PRIVATE POOL, BRAAI AND<br />

two bedroom townhouse with ENTERTAINMENT AREA offering<br />

open plan granite kitchen, ELO and Lounge, Diningroom, three<br />

Hob, extractor fan, breakfast nook, bedrooms, two bathrooms,( MES ),<br />

spacious lounge leading onto braai fitted kitchen undercounter oven,<br />

and private garden, automated hob and extractor fan and double<br />

garage and undercover carport. undercover carports<br />

VERONICA<br />

082 609 9552<br />

VERONICA<br />

082 609 9552<br />

PHONE VERONICA 0826099552 or CRAIG 0835088125 FOR A FREE VALUATION IF YOU<br />

WANT TO SELL YOUR HOME. WE NEED PROPERTIES IN ALL AREAS!!!<br />

Bowes McDougall Inc.<br />

27A Prince Alfred Street, Queenstown | Tel:045 807 3800<br />

No. 3 Tylden Street, Queenstown<br />

Phone: 045 838 5032<br />

Fax: 086 240 6676<br />

Email: info@zikizaprops.co.za<br />

Website: www.zikizaprops.co.za<br />

BIG TOWN HOUSE!! Lounge, kitchen with b.i.c, 4<br />

bedrooms with b.i.c main with en-suite, shower, toilet<br />

and basin, bathroom with bath, toilet and basin, swimming<br />

pool, double garage.<br />

SAFE FAMILY HOUSE!! Lounge, dining room, open<br />

plan kitchen with b.i.c, 3 bedrooms with b.i.c, bathroom<br />

with bath, basin & shower, separate toilet, garage, outside<br />

room with toilet, shower and basin.<br />

LOVELY FAMILY HOUSE!! Kitchen with b.i.c, lounge,<br />

3 bedrooms main with b.i.c, main with en-suite, shower,<br />

toilet and basin, bathroom with bath, shower, toilet and<br />

basin, outside room with bathroom, bath, toilet and basin,<br />

garage, fenced<br />

SAFE & QUIET AREA!!! Lounge, dining room, kitchen,<br />

3 bedrooms 1 with bic, bathroom with bath, toilet &<br />

basin, double garage, 2 outside rooms with toilet, bath &<br />

basin - 1 with bic.<br />

CENTRAL - OFFICE R3 500.00<br />

À<br />

<br />

FOR MORE INFORMATION GO TO www.zikizaprops.co.za<br />

VISIT OUR OFFICE OR CALL VUSUMZI ON 082 674 4352<br />

SOLE MANDATE<br />

Moira Pappas<br />

Principal<br />

C 082 478 7353<br />

THE DEAL: Securing building finance differs slightly<br />

from a traditional home loan, however, various<br />

documents and progress reports must be supplied<br />

BALMORAL<br />

R3 800 000<br />

4 Beds | 3 Bath | 2 Lounge | 2 Garage<br />

This neat and well maintained style home in<br />

sought after area offers everything you need<br />

and more, including outdoor braai area pool,<br />

irrigation system and borehole.<br />

Yolanda Moss<br />

C 083 381 5899<br />

EQT6885<br />

SOLE MANDATE<br />

VICTORIA PARK<br />

R890 000<br />

3 Beds | 1 Bath | 1 Lounge | 2 Garage<br />

Situated in a sought after neighborhood, this<br />

property will definitely create a buzz. This property<br />

offers an upstairs spacious lounge with big<br />

windows and doors opening up to<br />

a verandah.<br />

Sipiwe Follie<br />

C 076 832 9706<br />

EQT6942<br />

SOLE MANDATE<br />

Njongo Mvabenyathi<br />

C 071 036 0371<br />

EQT6869<br />

Njongo Mvabenyathi<br />

C 071 036 0371<br />

EQT6939<br />

SOLE MANDATE<br />

TOP TOWN<br />

R1 500 000<br />

3 Beds | 2 Bath | 2 Lounge | 2 Garage<br />

Beautiful home near Queens College School.<br />

This home also offers a spacious one bedroom<br />

flatlet with good rental potential. Attic with<br />

outside entrance for storage.<br />

SOLE MANDATE<br />

ALOEVALE<br />

R490 000 STERKSTROOM<br />

3 Beds | 1 Bath | 1 Lounge<br />

Lovely solid house close to transport, schools<br />

and clinic nicely built with a bit of space<br />

allowing for future expansion. Floors are neatly<br />

tiled throughout with extended bathroom.<br />

JUST LISTED<br />

VICTORIA PARK<br />

R800 000<br />

3 Beds | 1 Bath | 1 Lounge | 1 Carport<br />

Wonderful corner stand home offering lots of<br />

charm and character set in the heart of Victoria<br />

Park. Bedrooms with built in cupboards and<br />

fully tiled kitchen. Call me for viewing!!<br />

Sipiwe Follie<br />

C 076 832 9706<br />

EQT<br />

SOLE MANDATE<br />

EZIBELENI<br />

R690 000<br />

4 Beds | 2 Bath | 1 Lounge | 1 Garage<br />

Stunning and well looked after home for a<br />

large family. Modern built in kitchen with a<br />

stove, oven and hob. <strong>The</strong>re’s a flatlet at the<br />

back with its own very large and modern<br />

bathroom which can be used for rental if<br />

needed.<br />

Johan Marais<br />

C 082 411 3959<br />

EQT6879<br />

VICTORIA PARK<br />

R670 000<br />

3 Beds | 1 Bath | 1 Lounge<br />

An open canvas with lots of potential for 1st time<br />

buyers! This house is in a sought after area and<br />

will be grabbed at first glance! So you better hurry,<br />

because this only happens once<br />

in a while.<br />

Loraine Bosman<br />

C 084 487 8949<br />

EQT6939<br />

SOLE MANDATE<br />

R350 000<br />

3 Beds | 1 Bath | 1 Lounge<br />

Don’t miss out on this spacious family home.<br />

With big yard space for any developments. <strong>The</strong><br />

outer building consists of a bedroom, toilet,<br />

carport and a storeroom. Call for<br />

viewing.<br />

Sipiwe Follie<br />

C 076 832 9706<br />

EQT6548<br />

RENTALS - 045 838 2560<br />

Central:<br />

Bachelor flats – R2 800.00<br />

1 bedroom flat – R3 000.00<br />

Top town:<br />

1 bedroom flats – R3 100.00<br />

1 bedroom flat – R4 000.00<br />

2 bedroom flat – R5 060.00<br />

Weshoff:<br />

1 bedroom flat – R4 000.00<br />

Sandringham:<br />

3 bedroom flat – R6 321.00<br />

Victoria Park:<br />

4 bedroom house – R6 500.00

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