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