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Experts suggests you start saving long before you want to buy a home. PICTURE: SUPPLIED
GET YOUR DUCKS IN A ROW BEFORE you even consider purchasing a home here are steps to be followed, says Karmen Wessels of digital life insurer Sanlam Indie: • Visit property portals to get an idea of what you can afford in your chosen area. Set alerts. • Start saving. Consider downgrading your car and cutting out a few luxuries. Use savings and investment accounts that will earn you higher returns and, ultimately, more money in the long run.
“Your two biggest upfront expenses will be the deposit, and associated fees (transfer fees, bond registration fees, lawyer fees, etc),” says Wessels. “A good credit score is also a key factor in not only qualifying for a bond, but one with a favourable interest rate.” Further down the line, life insurance is also a monthly cost to consider, says Wessels. • Don’t disregard “free” money that comes to you via tax returns,
inheritance, a gift or other out-of-theordinary circumstances. “Let this windfall serve you better in a savings account. And if you get a salary increase don’t use it to upgrade your lifestyle, save or invest the difference instead.” • Buy a property jointly to get a bigger bond and pay it off faster or more easily. If you do purchase a property with a partner or friend, though, be sure to set up a contract to protect both of you.
Going green
Avoid transfer delays There are procedures to be followed before you can take transfer of a home. PICTURE: GREG RIVERS/UNSPLASH
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UYERS and sellers usually want to conclude their property transaction as quickly as possible but delays are common in the transfer process. Roger Lotz, franchisee for the Rawson Helderberg Group, explains the most common delays: • Compliance certificates: Sellers must provide these for electrical, gas and electric fence installations as a condition of sale. Beetle-free and water installation compliance certificates could also be needed. Lotz says many banks require them before they will approve a bond, so get them upfront as they can last up to two years. • Buyer financing: Getting pre-approved for finance speeds things up significantly. • Conveyancing documents: The conveyancing attorney usually begins preparing the transfer while the buyer is
securing finance. They will need to Fica both the buyer and the seller. • Rates clearance: Lotz says rates clearance shouldn’t take more than a week or two, but Covid shutdowns have led to huge backlogs in some areas. Sars must issue a transfer duty receipt that has to be lodged with the Deeds Office to conclude the sale. Lotz says they use this as a way of enforcing tax compliance across all other tax types. That means both the buyer and the seller need to be registered and tax compliant before the transfer duty application will be processed. • Deeds office: Once the conveyancer has arranged the documentation, they can lodge the transfer at the Deeds Office for registration. However, the Deeds Office is also struggling with massive Covid-related backlogs.
PLAN AHEAD FOR YOUR MOVE
Mike Munnik of Agama Energy, who was named the Established Green Star for 2021, with Green Building Council of SA chief executive Lisa Reynolds. He also collected the award for the Highest Rated Building in 2021 for The Ridge at the V&A Waterfront. PICTURE: SUPPLIED
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buildings have been certified over the past year, illustrating the growing momentum of green buildings in South Africa. This announcement was made during the Green Building Council SA’s (GBCSA) flagship Green Building Convention held at the Cape Town International Convention Centre last week. “Certified green buildings held their own as far as vacancy and return rates go over the past year,” says council chief executive Lisa Reynolds. “Property owners, tenants and investors are insisting on better, certified green buildings, as the environmental and financial benefits of these become indisputable. “Since 2009, the council has certified 740 buildings.” Reynolds said the 140
certifications during a year made challenging by Covid was significant. She commended the built environment community for driving the movement, saying “we do the certifications but you make the commitment”. Chief development officer at Attacq Limited, Giles Pendleton, will remain as the chairperson of GBCSA for another year. “Our programme was curated around this year’s theme “One Planet. One Chance”. It comprehensively looked at the critical role of the green building community and the need for us to come together as one powerful movement to effect positive change that counts,” he said. “The theme spoke to the need for decisive and immediate action to mitigate the effects of climate change and to save our one planet for future generations.”
Moving can be a tense time no matter how well you plan. PICTURE: SUPPLIED MOVING house is not only stressful – it can be an expensive exercise, especially if you have just borne the costs of buying a house. Here are some tips for a more cost-effective and seamless move from Dawn Bloch, Lew Geffen Sotheby’s International Realty area specialist for Kirstenhof, Lakeside and Zwaanswyk. • Do your research: Get at least three quotes and ensure each removal company is quoting for the same services. Be wary of quotes significantly lower than the others. Opt for companies that offer fixed estimates.
• Ask for a deal and be flexible in return: Some moving companies will agree to a discounted rate if you move mid-week or mid-month. • Removal firm costs tend to rise during major holiday periods – especially at Christmas – so try to avoid these key dates. • Declutter before you start packing: Moving home is the best time to get rid of what you no longer use and by selling items you can make money. • Get creative: Use linen and towels to wrap and protect fragile items. Gather boxes from supermarkets or from people who have recently moved.
Use the space in laundry baskets, rubbish bins and suitcases. • Pets: Moving can traumatise them. Try to arrange for a friend to take them for a couple of days until you have moved into your new home. • Meals: Make an inventory of all the food you have and create an inventive meal plan to use up as much of it as you can. Only buy essentials and perishables. • Pack a necessities and emergency box: Transport it in your car on the day of the move. Include items such as headache tablets; chronic medication; snacks and bottled water; pet snacks and cellphone chargers.
