Image credit: Serenity Hills
Estates are better value for money as they bypass the hidden costs of freestanding homes
The dust on the national elections has finally settled with the newly formed government of national unity described as a ‘market-friendly outcome’ by Business Day. This is good news for those who have been holding off on property investments as real estate interest picks up, particularly in secure estates.
“There’s definitely a positive sentiment being felt countrywide as we come out of the 2024 elections and we’re noticing this in the real estate sector, where hesitant buyers are now looking to secure solid investments that promise value for money,” commented Reece Daniel, Director of Amsonia and Developer of Serenity Hills on the KZN South Coast. “New developments in secure estates remain, by far, the best return on investment as there aren’t the many hidden costs so often associated with older, freestanding homes.”
Statistics shared by Lightstone indicated that while estates make up 7% of South Africa’s registered residential properties, they account for around 17% of the total market value, with the post-pandemic property recovery largely driven by sectional schemes and estates. This can be attributed to the work-from-home and lock-up-and-go trends, as well as the long-term savings of estate homes.
Daniel explained that buyers don’t always realise the need to budget a lot more than the final price tag on any freestanding home - not only for the initial costs associated with home ownership, but ongoing payments as well.
1. Maintenance
“Many existing coastal homes were built as holiday homes, with minimal ongoing maintenance as primary homes took precedence,” says Daniel. “The result is that many are rundown, and in serious need of refurbishment when they’re put on the market. This is compounded by the erosive nature of the warm, coastal climate which requires high-quality finishes and ongoing maintenance. This is not the case in newly built developments where the latest, high-quality materials ensure durability, with no upfront reconstruction or maintenance costs to factor in at all.”
2. Landscaping
“One of the biggest attractions to regions like the KZN South Coast is the year-round subtropical climate that encourages a more outdoor lifestyle. While older homes might have established gardens, maintaining or landscaping these gardens, which can become overgrown and unruly in a matter of weeks, can become costly. Eco-focused estates will often have established gardens, as well as indigenous coastal forests and pathways,” explains Daniel. “The care and maintenance of these forms part of the levy, which means no additional effort for the homeowner.”
3. Security
“While the government of national unity continues to tackle the high crime rate, South Africans are still investing heavily in home security features. This ranges from burglar bars and security gates to high walls, electrified fencing, alarm systems, and security patrols,” continues Daniel. “Investing in an estate means investing in a lifestyle, and this lifestyle is protected by security features that form part of the monthly levy. There’s electrified perimeterfencing, 24-hour security, security cameras and more that unobtrusively create a sense of safety at all times.”
4. Facilities and community
“Residents in freestanding homes have access to the beaches, but they will still have to pay membership fees for any additional sports and recreational facilities. One of the biggest savings for those buying into a secure estate is accessibility to all manner of on-site facilities, at no additional cost,” notes Daniel. “Many people are moving to regions like the KZN South Coast to enjoy the outdoor lifestyle and laid-back community. This can be best enjoyed in a secure estate where there is safe and free access to a range of sports and recreational facilities, as well as social communities and clubs with no need to travel.”
5. Insurance
“Another cost-saving feature of secure estates that many don’t factor in is lower insurance premiums. This is because these estates are viewed as lower risk for theft as a result of the 24-hour security and emergency response teams. Buyers will save thousands of rands saved over time, simply by choosing to live in an estate over a freestanding home,” he says.
“In designing Serenity Hills on the KZN South Coast, we wanted to create somewhere people of all ages, from first-time buyers to families and retirees, could find an affordable property with all the benefits of coastal living. Serenity Hills promises all the cost savings of an estate, with the property prices much more affordable than in other coastal locations. If you’re looking for a great property investment, then this is a great option.”
Investors keen to get significant value for their investment in this pet-friendly estate are encouraged to check out the remaining plots available in Serenity Hills! To find out more or to book a viewing at Serenity Hills, visit www.serenityhills.co.za. For regular updates, follow @serenityhillsecoestate on Facebook and Instagram.
