Guide to small budget buys in KZN
Category News
On a small budget but eager to kick-start a property portfolio? Tyson Properties has put together a guide of what first time home buyers can purchase with a budget that falls under the million rand mark - ranging from flats to freestanding homes, from central Durban to smaller coastal towns. There are many opportunities that a wise investor or first-time buyer can make the most of, to get their foot in the market.
Along the Durban beachfront and in the Central Business District, Tyson Properties currently has a variety of properties available ranging from 1 to 3 bedroom apartments and flats. The smallest flats, starting at a size of 40m2, and offering one bedroom are priced at around R400 000. Larger two bedroom units sell for up to R900 000.
If you are looking at South Beach and North Beach, properties which have views of the ocean and the Durban beachfront are generally higher priced than those without. A one bedroom apartment with a view can be bought for a price in the region of R700 000.
Smaller flats and apartments in the CBD and on the Esplanade, come in at much lower prices, with one bedroom properties starting from around R300 000 and increasing to R900 000 for apartments with two or three bedrooms.
Tyson Properties Ushaka principal Cecily Deetlifs says that buyers purchasing in this price range are mostly first-time buyers, young professionals and investors.
“The area is a hub of activity and with the investment in infrastructure around the Harbour area, the area will continue to see growth and offer a return on your investment,” she says.
Should you be considering a move into the Berea and Morningside area, including the suburbs of Glenwood, Glenmore, Umbilo and Overport, bachelor and one bedroom flats are available from R400 000 while two bedroom apartments and simplexes can be found from R500 000 upwards.
The Morningside office currently has a 33m2 bachelor flat being marketed at R450 000 in Berea. The flat comes with an undercover parking and is on the bus route. The office also has a one and a half bedroom flat in Glenwood offering a beautifully fitted kitchen, parquet wooden flooring and good security which is listed at R620 000.
“A good property investment in this area can give you a good return because the demand is high. It is ideally situated close to the CBD, the beachfront and the major highways and buyers are drawn to the trendy and eclectic vibe of this beautiful garden suburb overlooking the city of Durban,” says Tyson Properties Morningside principal Kim Woods.
Travelling further inland from central Durban affordable property purchases may be found in the suburbs of both Pinetown and Queensburgh.
Tyson Properties Inland Director Lee Ellis says many potential buyers choose these areas because they are able to purchase larger sized properties for less money, when compared with those closer to the coast.
“The positive aspect of purchasing property in either Queensburgh or Pinetown is that potential buyers will benefit from the major transport routes, work opportunities, extensive shopping facilities and schools,” he said.
A budget of R900 000 may purchase a potential buyer a bit more in these suburbs – with some free standing three bedroom homes on large stands listed in this price range. A three bedroom simplex within a secure complex may be found for between R800 000 and R900 000. Smaller two bedroom apartments may be purchased for between R500 000 and R700 000, while a one-bedroom apartment may be purchased for a price of in the region of R400 000.
“These inland suburbs used to be perceived as light industrial towns but are now fully-fledged residential suburbs. In recent times, we have seen a significant boom in the property market in these specific suburbs with major developments in both infrastructure and amenities,” says Lee.
In Amanzimtoti, one and two bed apartments range from 60m2 to 150m2 and sell for between R400 000 and R900 000 depending on size and location. The Amanzimtoti office currently has a three bedroom townhouse with one bathroom, lounge and dining room and a garage selling for the affordable price of R730 000. This home has a large balcony and a monthly levy that comes in at just under R1000.
Further south towards Scottburgh, Umkomaas, Widenham, Clansthal, Freeland Park, Pennington, Bazely, Ifafa, Port Shepstone, Shelly Beach, Margate, Uvongo and Umtentweni, vacant land can be bought starting from around R100 000, while one and two bedroom apartments are listed at a starting price of R400 000 and up. With a budget close to the upper R800 000 mark, buyers can find apartments, townhouses and freestanding homes offering two, three and even four bedrooms.
On the North Coast, lower-priced apartments or flats are few, but they can be found if buyers are patient. If you are shopping for land, however, you have a fairly wide choice of freestanding plots in Ballito itself or on one of the area’s estates such as Palm Lakes where you can buy a decent-size plot, some even with sea views.
Advice from Tyson Properties CEO Chris Tyson for first-time buyers to keep in mind – location will always be the prime benefit when you want to sell one day.
“Remember, you will not stay in your first home forever. So buy in the best possible area that you can afford, even it means sacrificing on space. If you buy something smaller in a good area, you can be confident that you will get a good return on your investment,” says Tyson.
“Also, your most important partner when it comes to buying your first home is your estate agent. Choose carefully, you need someone you can trust to give you good advice and act in your best interests, rather than someone who is just out to make a quick sale.”
Author: Tyson Properties
