Warning for anyone looking to move into estates and complexes in South Africa: [an extract from an Article by: Luke Fraser in BUSINESSTECH – 25 January 2025]
Many South Africans are looking to downsize their property, but for those looking at estates and complexes, property experts warn that the costs may be higher than what you are currently paying.
According to Kim Woods, a franchisee at Tyson Properties in Durban, downsizing is no longer just for retirees or empty nesters.
Downsizing has become popular for those who want to realise the benefit of their large property investment asset by pursuing other endeavours such as international holidays or creating a business.
However, for others, it is a necessary evil due to the nation’s weak economic growth and the cost-of-living crisis.
Woods warned that downsizing may not necessarily reduce household expenditure that much, even if it leads to savings on difficult and time-consuming maintenance of a larger property.
“Estates and sectional title properties respond to this because they offer amenities that can be tapped into with little to no effort.”
Estate living has become popular as a result, as many migrate to this lifestyle to enjoy the benefits of a live-work-play environment where all their needs are centralised and nearby.
Estates also tend to offer high levels of security, nature and views, restaurants, shops, and even schools.
“But these come at an additional non-optional fee, often considered as ‘hidden’ costs,” said Woods
The Original Full Article can be Viewed here → Warning for anyone looking to move into estates and complexes in South Africa – BusinessTech