Home Decor by Gazettebw

HOME DECOR

Supplement to the Botswana Gazette Wednesday 31 July - 06 August 2013

Financing your dream home - What are the different home loan options? ANESU DUMBA

n a complex world of investing, property has not lost its allure as an investemtn option despite the tough economic challenges of late. With price of property skyrocketing, dabbling in it has become a popular business venture as well as a secure way to invest one’s money. One of the core reasons why property has an established track record and promises, at the very least, a stable future is because shelter is a basic human need and with the average population growth going no where else but up, coupled with the fact that land is increasingly becoming harder to obtain, demand for housing can be relied on. Real Estate is also argued to be a reliable tool in retirement planning, enjoyed by many older citizens who took the initiative to invest in owning property early on. Imagine being able to laugh your way to the bank every month looking forward to the money earned from your day job or pension and the rent received from two or more properties that could normally amount to the same amount if not more that an employee earns monthly. Financial institutions recognize this and therefore whether you would like to buy a house or improve an existing one to increase its value, there are many financing packages to choose from that are offered. Bank Gaborone insists that during the different stages in your life, whether you are single or married with a growing family, you have different housing requirements. Therefore, they offer competitive financing options to help you own the home that will suit your particular circumstances. Whilst a loan manager will be available to discuss and negotiate with you on the intricate details of the loan they offer like the interest rate to be applied, one of the

features of the home loans Bank Gaborone offers that are more rigid is a minimum loan period of 5years, and a maximum repayment period of 25 years. One can choose to repay the loan over a shorter period of time to save on total interest cost.The Bank requires a minimum deposit of 10% of the open market value or purchase price or building costs(whichever is the lesser of the three). Standard Chartered Bank home loans pride themselves on being the solution to offer you fast flexible financing whether you are a first time buyer, looking for investment in property or simply want to upgrade your home. Standard Charted offers an Equity Release loan that will “make your property work for you”. Equity is the difference between your mortgage balance and the market value of your house and they insist that whether you want to renovate or extend, equity release is the most affordable solution. In other parts of the world they call it a reverse mortgage. It also happens to be a useful retirement planning tool in that it provides income that you can tap into for retirement. The advantage of a reverse mortgage is that the borrower’s credit is not relevant, and is often unchecked, because the borrower does not need to make any payments. Because the home serves as collateral, it must be sold in order to repay the mortgage when the borrower dies (in some cases, the heirs have the option of repaying the mortgage without selling the home). These types of mortgages have large origination costs relative to other types of mortgages. These costs become part of the initial loan balance and accrue interest. The Botswana Building Society like other building societies around the world give banks and other financial intermediaries competition in the home financing industry and because of their specialized

nature that appeals to real estate investors, most borrowers tend to favour them. Building societies resemble credit unions in the U.S. in that they are owned entirely by their members. These societies offer mortgages and demand-deposit accounts and are often backed by insurance companies. The Botswana Building Society currently charges an interest rate from as low as 10.80% and the maximum repayment period is 30 years for individual borrowers. However, borrowers may choose to repay the mortgage in a shorter period depending on their ability to do so. It is required that in the case of individual borrowers the loan should be fully repaid by the time the individual reaches the age of 65. Another option in the banking industry offering competitive deals in the home financing industry is BancABC, offering a minimum repayment term of 7 years and maximum of 20 years. The monthly installment is deducted directly from the current account or by direct debit from another bank. They require a minimum loan amount of P125,000 and a minimum deposit of 10% of the purchase or building price meaning that BancABC will finance 90% of the Open Market Value or the Purchase Price, whichever is the lesser. They also offer the Equity Release or the Reverse Mortgage option product that gives you the opportunity to re-mortgage your property. Like any other industry in commerce, financial intermediaries such as the ones mentioned above are competing to be the financial intermediary of choice in financing your purchase, construction or renovations. It is up to you to compare and contrast between the different options offered from these institutions and make the choice based on your particular needs and preferences.

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HOME DECOR SUPPLEMENT

WEDNESDAY 31 JULY - 06 AUGUST 2013 THE BOTSWANA GAZETTE

What are the latest trends in home décor design? Gosego Motsumi

ven though many people’s home décor is an extension of their personality and style, many interior architects work around the clock to introduce cutting edge trends that people may adopt to turn their houses into dream homes. Strong coloured paint, such as handmade art and green gardens best describe where housing trends are heading this year. A coat of paint can do wonders to any area of the home. Colour plays an important role in triggering our reminiscence and the trend forecast shows that interior designers are pulling colour ideas from the beauty of nature. The colours that will help define the pallet inside homes include neutral brown shades such as the desert and foothills, colours in the treasured pallet such as gold symbolize quality materials, the exuberant shades of blue and emerald green explore the need to get away and turquoise evokes relaxing and soothing thoughts. Shades of blue is a fresh, crisp and relaxing colour evoking found memories of togetherness and a homely feeling. A lot of blue is trending in home decor catalogs from

ceramic accessories, upholstery and throw pillows. Since the art industry is growing in Botswana many home owners are buying original local pieces and artist furniture to display in their homes. Spaces on walls, corners and hallways can be filled with modern art pieces ranging from wire figures, giant wire lights, paintings, sculptures and handmade artistic materials to express an individual’s taste. Designed mirrors with patterned frames are another big trend as they hang on the wall reflecting the displayed art pieces in the room. Mirrors add an interesting atmosphere to a space and large mirrors or few smaller ones can be used to create a bigger space. Homes that ooze luxury are the most sought after no matter the size of the house. Stylish kitchens and bathrooms are at the top of many wish lists. The latest trend in kitchen design is the transitional look with brass metal chimneys and glossy (lacquer) fitted kitchen that is of contemporary design. The kitchen space is re-designed for a larger crowd and the rise in popularity of gourmet kitchens with upscale appliances and top notch lighting. Antique brass is also another trend that is making a

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come back and is incorporated into cutlery handles and water taps. Smaller homes call for scaled back pieces to allow more light into a house’s space. Space for a smaller room can be created by swapping large bookshelves for wall mounted ones, tailored designed furniture is prefered over large and chunky house furniture. Many homes are currently putting in efforts to conserve energy and water due to the current crisis the country is facing. Low water toilets are a step in the right direction and solar panels are more intergrated into roofs so they are less of an eyesore. Moreover home owners strive for comfortable home environments with garderns that have drought tolerant plants and landscapes that allow greater water retention. The green movement gardening is a trend that uses recycled water even for plants that are not drought tolerant. Due to this trend many garden spaces will not be left unsed and will give a home a fresh look. However, the best way to make use of the trend forecast is to think about how each trend resonates with one’s lifestyle and wallet and be sure to choose a décor design that reflects your personality and sense of style.

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THE BOTSWANA GAZETTE WEDNESDAY 31 JULY - 06 AUGUST 2013

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Air tight!

MODIRI MOGENDE

otswana Police statistics reveal that since the beginning of this year, there have been 622 robberies around the country, and even though these figure include breakins, the majority are said to be that of residential homes. These number reveal a worrying security reality for homes, especially those located in cities and towns as these are the places hardest hit by most burglaries. Several measures exist that one can take to secure their families and their goods in their homes. For those who have alarms systems with the multiple security companies in the country, if it frequently goes off, get it fixed immediately and the advice is for you to let your neighbors be aware that it’s been repaired. According to security experts, many people ignore an alarm that goes off periodically. According to Top Security, a security advice website, springlatch locks are an easy prey for burglars who are “loiding” experts. They define loiding as a method of slipping a plastic credit card against the latch tongue to depress it and unlock the door; this is a locking system that is popular amongst many modern home developments. The advice is to fit a deadbolt which will guard against such attacks. If the entrances to your home are dark, consider installing lighting with an infrared detector that will automatically switch it on upon censoring movement. Most thieves don’t want to be observed trying to get in a door. According to the police, in 2012 a string of home invasions were prevalent were burglars used to enter homes claiming to be officers of utility companies like Botswana Power Corporation, Water Utilities or Botswana Telecommunications. For your personal safety, the advice is to ask for credentials from any agents who requests entry to your home. Ask that their ID be pushed under the door. Many burglars use this cover to check out homes. If you’re doubtful, check with the person’s office before letting him or her in. The cheapest option of home security is that of forming a neighborhood watch committee. According to Fight Crime Botswana, a Non Government Organisation formed and launched in 2012, a community has the primary responsibility for preventing crime. “The most effective approach to fighting crime is a proactive one, i.e., stopping it before it occurs. This can happen when neighbors cooperate with each other to assist the Police Department. Neighborhood Watch members place stickers in their windows and post Neighborhood Watch signs on streets, warning criminals they are in an active Neighborhood Watch community and that ‘neighbors are watching out for each other.’” Fight Crime advises vigilance in neighborhood for reasons that there cannot be a police officer on every street corner, thus burglars will frequent and exploit those areas where no one is watching them. Some security measures are simpler than others. For instance, a professionally trained guard dog (or dogs) can deter even the most determined burglar. Short of eliminating it, there are few ways to keep a dog from defending its territory from an intruder. Pick all of the locks you want, but if there’s a fully trained canine on the other side of that door or window, it won’t matter how quickly you get it open because you won’t be able to close it fast enough. There are several types of dog bred specifically for guard duties. The best breed is probably amongst the Dobermans, Rottweilers or the German Shepherds. These breeds take to discipline well, and once trained, can be the next best thing to a fully automated security system. Actually, in many ways, such a dog IS a fully automated security system. For the price of care and feeding, a guard dog will protect your home from any type of intruder you care to name.

Securing your home According to the police, in 2012 a string of home invasions were prevalent were burglars used to enter homes claiming to be officers of utility companies like Botswana Power Corporation, Water Utilities or Botswana Telecommunications.

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PAGE HD 25 THANDIE SIBANDA

our home is an important investment. Even when your budget is tight, there are a few basic ways of improving it without breaking your wallet. Many of us donâ&#x20AC;&#x2122;t have the luxury of having large spaces therefore we will give you two basic and highly effective ways of increasing the depth. With regards to your interiors, when you have a small space there are two basics and moneysaving solutions you can apply with to make it appear larger.

Colour

Colour plays a fundamental role in not just the aesthetic and mood, but the depth perception of any space. It plays an integral part of depth perception through the application of certain tone and colour intensities. In a small space, one needs to avoid the consistent application of dark colours and tones as they absorb light which makes a space look smaller than it probably is. The best solution for any small space is to use light colour and tone palettes which are the most ideal as they make any space appear large. Another solution is to use muted or cool palettes, bright colours and only apply dark tones as accents on elements such as feature walls, borders and decorative, design details. As a cheap trick, one can minimize costs and depth perception in a small space by introducing colour and tones through the use of furniture and accessories in a muted space. Note: Important rule to remember is to keep

HOME DECOR SUPPLEMENT floors and ceilings light; not necessarily white. Light neutral tones are the most popular and functional with regards to floors, but different hues of white on both floors and ceilings are timeless options.

Light

With regards to illuminating your space, light is the primary factor that determines spatial depth perception. It is highly beneficial to have as much light present in your space as possible. The more light that is available in a space, the more depth can be manipulated to make the space appear larger than it probably is Light can be introduced into a space through various mediums. Spatial light introduction doesnâ&#x20AC;&#x2122;t have to conform to the conventional ways which typically comes through windows, doors and light fixtures. A now dated, but renewed and increasingly popular method of introducing spatial light is through the use skylights. Skylights introduce the most beautiful and uninterrupted natural light into the space from above. Skylights are also the source of magnificent views of the sky which makes the room look large infinite as well as introducing attractive views into your space. Not just limited to spatial illumination, light can be used as a tool to emphasize certain elements such as furniture, accessories or to simply create focal points in your space. Other ways of increasing light could be through the introduction of mirrors. Mirrors also serve as a must-have contemporary wall dressing.

WEDNESDAY 31 JULY - 06 AUGUST 2013 THE BOTSWANA GAZETTE

Using color and lighting to increase space

HOME DECOR SUPPLEMENT

THE BOTSWANA GAZETTE WEDNESDAY 31 JULY - 06 AUGUST 2013

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