Homes for sale: Which kind of property is suited to you?

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Are you in the market for homes for sale of distinction? It can be overwhelming knowing where to start. When investing in residential properties, the first, and most important, question that arises surrounds what kind of property is sought. Make no mistake, South Africa has plenty of homes for sale available – and it is currently a buyer’s market. Many economists feel that pre-COVID-19 interest rates will not re-emerge for years to come, which means that now is a favourable time for anyone interested in buying. Whether you are actively browsing current market listings, or if you are just curious about the kinds of properties for sale available in your area right now, this article explores a few options.

Things to consider when shopping for homes for sale

What looks great and functions well today may not always be as attractive or practical to you in ten years. Buying a property is a major investment, and you are seeking to gain an asset that caters to your needs for years to come, instead of quickly becoming a liability that costs more than you are willing to pay. Young families that are expecting to grow with the addition of children or parents moving in are often the most eager to invest in larger homes for sale. Then, there are professionals of working age who prefer to purchase a smaller space for either themselves or for a passive income stream. While browsing for homes for sale, consider your future needs in terms of space, storage, accessibility to places like schools and hospitals, and what kind of luxuries you find important (such as a spacious garden or swimming pool).

Detached residential properties

As a common option for families and those seeking a legacy home to leave to their children as an inheritance, most suburban homes are either single- or double-storey houses. It is a stand-alone option, usually either in an open neighbourhood or gated community, and offers street access, a yard, and a private entrance. Residential houses are generally the most expensive of all the properties, though this depends upon size and location too. For single individuals or older retirees, this option may be too big and spacious to warrant the upkeep it takes.

Apartments, flats, and condos

More and more modern South Africans are gravitating towards apartments, which are often smaller and more affordable. Still, there are plenty of options available on the market that are spacious enough to host an entire family, including small pets. While apartments do not usually have a backyard or large outdoor area, they come with other perks, such as maintenance-free communal spaces and the added security of living near other residents. For some, it is an affordable option for superb first-time property investment. Apartments are not generally suited to older tenants, however, as they may include stairs and tend to be too noisy for peace-seeking retirees.

Townhouses

Townhouses, also known as sectional title dwellings, are smaller homes located within a complex and run by a body corporate. Some townhouses have about two to three rooms, small yards, and even patios that are roomy enough for small families and pets. Proximity to other residents is often a downside, but there is increased security in these complexes as they are gated, and the communal gardens and facilities are usually tended to quite well.

Other kinds of properties for sale include cluster houses, smallholding properties, and farm homes, and we at Fine & Country South Africa can assist you with them all. No matter your preference, our expertise and access to exclusive listings mean you will be matched with beautiful homes for sale. For more information, speak to our friendly team today by filling out an online form.