Neighbourhood 4 NOVEMBER 2018
PROPERTY & LIFESTYLE
Holiday hot spot Think South Coast KZN and has-it-all-and-more Margate immediately jumps to mind, page 2
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SUBURB FOCUS: MARGATE
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Margate The main town along KZN’s lower South Coast, Margate lies at the heart of the sub-tropical Hibiscus Coast and has much about which to boast WORDS: ANNE SCHAUFFER
IMAGES: STEPHEN PILBROUGH & GOOGLE MAPS *Map not to scale
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argate has always been considered the party animal of the South Coast, largely because it’s so well equipped with a wide range of accommodation and entertainment. With the warm waters of the Indian Ocean, sensational, shark-netted beaches, extreme and less extreme sportiness, and nature at every turn, small wonder it’s a sizzling holiday hot spot. Margate’s reputation revolves largely around its sea-based attributes, and offers an unparalleled beach experience. Margate Beach, with its paved footpath that runs for kilometres along the beach – together with Lucien Beach and its blue flag status, is beach Mecca for residents and holidaymakers alike. The whale deck is designed for the spectacle – usually around July to December – when southern rights and humpbacks take your breath away.
Property Much of the lower South Coast accommodation consists of holiday accommodation and timeshare, and at one time the towns were somewhat deserted out of season. Apartments and homes were either bought to let out in holiday season, or, for upcountry visitors and future retirees, this was their annual escape to the beach. Although it’s still very much a holiday destination, the balance has shifted – buyers have been wooed by the affordability of property, quality retirement options popping up, a certain quiet and simplicity of life which isn’t found north, the region’s easy accessibility to significant retail outlets, the speedy N2 north to Durban (90-minute drive), and the airport at Margate, with its daily service between Joburg and Margate.
We journey to our beachfront apartment in Margate twice a year from Gauteng – it’s our escape. My husband fishes, and I love playing golf. We have five years before retirement, we’ve nearly paid off the home loan, and then we’ll be there permanently.
Schooling Schooling is plentiful in the area, private and government, whether in Margate or in surrounding areas or towns. For the little ones, Marburg Primary, Izotsha Primary School and Margate Primary School are well rated, as is The Woods Prep School & College in nearby Port Edward. Port Shepstone, too, has a primary, senior primary and high school, while a number of private schools have come to the fore: South Coast Academy is a private school in Margate, which caters to primary
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PUBLISHED BY TIMES MEDIA PROPERTY PUBLISHING 1st Floor, Block H, Sable Square cnr Bosmansdam and Ratanga roads Milnerton, Cape Town
through to high school, and allows for boarders; and Creston College is a private school near Port Shepstone, catering to all ages. In neighbouring Ramsgate, Southcity Christian College is an independent, affordable, private Christian school catering to both boys and girls from Grade 8 to 12.
Explore The South Coast has a rich heritage of plant life and coastal vegetation, which draws extraordinary birds. For many who live here, nature rules their leisure time. There are numerous excellent nature reserves in and around Margate, and for birders, ramblers and hikers, this is truly paradise. Bird Life Africa has a South Coast Birding Route, and although the environment is wonderfully diverse, the region is best known for its unparalleled forest birding. The bird list is extensive. A number of the local nature reserves cater well to day visitors. This warm stretch of the coastline is not only ideal for surfers, but for fishing, scuba diving, diving and snorkelling, too. It offers some of the best scuba diving in the country, with globally renowned offshore dive sites to test the toughest diver, like Protea Banks, Adda Reef, Deep Salmon, Bo Boyi Reefa and Potato Reef. Local companies offer all the necessary tools and transport for beginners and accomplished divers alike. Welcome to the golf coast aka the KZN South Coast, comprising nine 18-hole golf courses, and two nine-hole. The legendary likes of top-rated courses like Selborne, the Wild Coast Sun and San Lameer, are undoubted drawcards for the many international visitors. Although the Indian Ocean is always home to dolphins and whales, it certainly ups its game in June and July. Margate is home to what’s termed The Greatest Shoal on Earth, one of nature’s finest displays. Millions of sardines comprise this wintry Sardine Run, and behind them, 20,000 dolphins, sharks, fur seals, game fish, sea birds, the occasional whale… and hundreds of delighted opportunistic fishermen, voyeurs, and photographers. It’s something to behold! Margate and surrounds offer a number of tame to death-defying thrills for those so inclined. White-water rafting, rock-climbing, abseiling, mountain biking, you name it, Margate has it.
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Neighbourhood
PROPERTY NEWS
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PLAY: • Space Centre with its museum and observatory • Margate Country Club • Pure Venom Reptile Park • Artists’ Gallery KZN • Margate Art Gallery • De Ras Photo Gallery & The Gallery Cafe
EAT: • The Packshed: dinner only • Larrys: family restaurant and seafood • Friar Tuck Restaurant: steakhouse • The Lobster Pot: seafood • Trattoria La Terraza, Southbroom: Italian fare • De Ras Gallery Cafe, Southbroom: a little culinary gem • The Waffle House, Ramsgate: favourite for waffles • Flavours Restaurant, Ramsgate: international cuisine • The Burlesque Cafe, Ramsgate: quirky decor and great cuisine
SHOP: • Hibiscus Mall • Shelly Centre
For sale
For rent
Median asking price:
Median asking price:
R1,35m
R4,650
Monthly bond repayments
For a typical property (three-bedroom apartment)
For a typical property (two-bedroom apartment)
For a typical property in this area
R1,1m
R1,03m
R1,7m
In a complex
For an apartment
For a house
You’ll pay
R13,028
R6,500
R5,500
R6,000
In a complex
For an apartment
For a house
per month
Property type:
41% house
48%
apartment
11% complex
Property type: Based on
20% house
R1,35m
73%
median asking price
over a period of 20 years at 10% prime
apartment
7%
complex
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PROPERTY NEWS
4 NOVEMBER 2018
Neighbourhood
Pay off your home loan faster Sounds like a pipe dream? You’ll be surprised WORDS: ANNE SCHAUFFER
IMAGE: SHUTTERSTOCK
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f you pay off your home loan early, you save on compound interest, says bond originators ooba’s Rhys Dyer. “Look at a R1m bond paid over 20 years at a 10% interest rate – your instalment would be R9,650 per month. The total cost of that R1m loan (interest and capital) over the 20-year period would be R2,316,052.” He also pointed out that a 20-year repayment term compared to a 30-year one, means you’re saving R843 206, with an increased monthly payment of R874. When you add the interest to the original house price, you’re paying a great deal more than you intended to, says Simon Brown of Just One Lap. “The easiest way to pay as close as possible to the original price is to pay back more than the minimum amount the bank expects.”
Pay it off in seven years
Yes, you need extra cash every month, but not nearly as much as you’d think. Let’s say you have a 20-year home loan. You might assume that to pay it off in seven years, you’re going to have to make up roughly two thirds of the time by paying an additional two thirds more each month. That’s not how compound interest works.
Five easy steps
From the first instalment of the first year, pay an extra 10%. If your instalment is R10,000 a month, pay R11,000 a month for a year. At the end of that first year, you’ve reduced your home loan down to 15 years. Five years saved. Let’s assume your salary increase is 6%. Increase the R11,000 bond repayment by 6%. Note – you don’t pay your 6% salary increase into your home loan, you only pay 6% of your revised bond repayment of R11,000 (R720). Do this annually and your home loan is down to 10 years. You have halved your bond repayment period. Pay your home loan before the 1st, 2nd or 5th of the month. If you get paid on the 25th, pay it then. This will bring it down to seven to eight years. It’s said that each of us should have three to six months’ living expenses tucked away for a rainy day. If you do, put it into your home loan rather than into a 32-day call account or fixed deposit – this way, you’re effectively earning that
interest rate on that money. If you get a 13th cheque, treat it as another month’s salary. If you can put the entire cheque into your home loan, do it, but if not, pay in the same percentage you’ve been paying for the past 12 months.
if you decide to pay off your loan and cancel the bond. The funds would not be immediately accessible and the bank may also, second time around, not approve the same loan facility at the same attractive interest rate that you enjoyed on your original home loan.”
When is paying it off not the wisest decision?
Dyer says, “Usually, a home loan is the cheapest form of credit, so if you have other debt such as car finance, credit cards etc, you would incur a greater interest saving by paying off those more expensive lines of credit.” He adds, “Additionally, if you’re an investor and are renting out the property, you could save on tax as your bond instalment is tax deductible. Should you need to raise finance in the future against the property, you’ll be incurring bond registration and other finance-related costs once again
My business neighbourhood
Personalised gifts have become a huge contender in the gift-giving market for building stronger connections WORDS: TIVANIA MOODLEY
IMAGES: SUPPLIED
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ameer Moosa and Xylia Peters tapped into this world of possibilities and formed Zélie Unlimited, offering clients unique and affordable products that make the perfect gift. Q: How did your business start? A: With the current economic situation and sparse job opportunities in South Africa, we decided that starting our own business would be beneficial and the market is ripe for personalised gifting. Zélie Unlimited specialises in handmade polymer clay items and laser-cut and engraved products. Q: Why did you choose this area to set up shop? A: We’re a home-based company, operating from Queensburgh, and chose this area for convenience. We can balance our home and work life which is a huge advantage. Q: How did you find your premises? A: Starting up a business is no easy task, therefore to save on the cost of rent, we decided to work from home until we’re able to invest in a property. Q: Why are they ideally suited to your business? A: It serves as a convenient workspace that allows us to work flexible hours. We can work late knowing we’re in a safe environment, as opposed to working at an off-site premises.
Q: Who are your neighbours? A: Operating from home means we have residents who share our area, but they’re also potential clients who can support our business. Q: How many people go through your business each day? A: Being tech savvy is so important when you’re a home-based company. We use a “virtual shop” as a platform to show off our goods and have roughly 20 to 40 people visit the site daily. Q: Do you have any expansion plans? A: Yes, we’re currently building our brand with hopes of owning our own property that allows for a variety of services all in one area. Q: Do you operate online as well? A: We’re still in the process of creating our website but operate on social media. Q: What’s your most popular item? A: We offer a variety of personalised gifts. Many people look for unique giftings that are thoughtful and affordable.
SEE FOR YOURSELF: Zélie Unlimited 063 6711 086 facebook.com/zelieultd
4 NOVEMBER 2018
Neighbourhood
PROPERTY NEWS
5
New estate in Ballito Zuka Valley is the final large-scale development at the sought-after Seaward Estates protected by an exclusive gate WORDS: CANDICE BOTHA
IMAGE: SUPPLIED
Z
uka Valley in Ballito is an exciting prospect for first-time buyers, investors and families alike. “Zuka Valley caters to a diversity of buyers,” says Sascha Bausch, Pam Golding Properties, the exclusive marketing agents. “The entry-level, two-bedroom units are priced to allow first-time buyers to secure an affordable home within a secure and convenient location in the heart of Ballito. Further types offer three- and four-bedroom homes suitable for large families in need of more accommodation.” Zuka Valley will be part of the wellestablished Seaward Estates where an exclusive access gate will afford privacy and convenience. “It’s only a stone’s throw away from all shopping, health care and schooling amenities, and yet there’s a lush, indigenous coastal forest with walking and biking trails safely on your doorstep within the estate,” notes Bausch. Eco-consciousness is an important element of the development with an array of energy and cost-saving initiatives including central solargenerated essential items, power invertor, cellphone-operated smart switches, grey water harvesting and more effective geyser accessories. The developers have also considered
the demand for easy living and Zuka Valley will have fibre to each home, laundromat services, studio work spaces on site, additional garages and storage facilities, and a scheduled pedestrian access to Ashton College. The lifestyle of residents has also been prioritised with a clubhouse facility with a lap pool and a viewing deck overlooking the forest. A purchase at Zuka Valley is sure to make a good investment. “Ballito currently enjoys one of the most positive markets in South Africa with many buyers relocating and migrating from both upcountry and the greater Durban area to the Dolphin Coast, thus creating a demand for both homes to purchase and properties to rent,” notes Bausch. “Zuka Valley finds itself within an affordable market segment that will also perform well on rental investment returns, while lucrative capital growth is expected to take place over the next 24 to 36 months,” Bausch concludes. The pet-friendly development will have 125 units completed over two phases, with construction scheduled to commence in April next year, with occupation and transfer expected in the first quarter of 2020.
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INVESTMENT
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RESORT FEEL
LEISURE
LIFESTYLE
Appreciating (prices are fetching more than 60% of their original value)
Safety: state-of-the-art family security has no price
Uninterrupted views stretch from Northcliff to Oliver Tambo
Signature Jack Nicklaus Houghton Golf Course with jogging paths
A five-star hotel, part of The Leading Hotels of the World Group, on your doorstep
W AT C H T H I S S PA C E F O R E X C I T I N G N E W S O N T H E H O T E L OSBORN RD
M1
HOUGHTON GOLF CLUB
2ND AVE
Luxury apartment 8555, is open for daily viewings. A limited number of apartments are still available. WARREN BECKER 082 302 3004 | warren@thehoughton.com ASHLEIGH SMITH 073 220 7357 | ashleigh@thehoughton.com Gate 2, 53 Second Ave, Houghton | Show apartment 8555