The last decade has seen plot and plan residential developments coming off developers drawing boards at a rate without precedent in South Africas history - but by no means all the buyers in these projects have been satisfied.
Commenting on this situation, Tony Clarke, MD of Rawson Properties, said that buyers all too often neglect to work through the developers statements and plans as thoroughly as they should. In their desire to own a home, many sign without proper investigation.
'The first step to take in every plot and plan purchase,' said Clarke, 'should be to go and stand on the ground allocated to your unit and look around you. If your unit has an upper storey - or is simply on a higher floor - find some means, e.g. a ladder, of checking the view from that level.
'Secondly, insist that the agent explains in detail where other buildings on or adjacent to the site will be or could be erected. What appeared to be a pleasant surrounding landscape can a few years later be filled with high-density retail outlets and service stations. If this does not upset you, then well and good. If it does, buy elsewhere'
In general, said Clarke, views are the most contentious of all issues. At a Platteklip project some years back, he said, buyers found that the views shown on the brochure were largely obliterated by the closeness of the other units in the same development and this definitely downgraded the value of all homes in the project.
Parking, too, can be a tricky issue, said Clarke. Sometimes the bays allocated by the developer can be difficult to access or the layout can result in certain cars being parked in.
The term 'full security' can also have many interpretations: from a simple barbed wire fence with an electronic gate to a comprehensive CCTV and patrol service.
Clarke said, buyers should also check where the sun is in relation to their unit at different times of day. All too often unexpected deep shade or blazing sun can make a unit far less attractive in reality than it seemed on paper.
Most property developers, Clarke warned, will be held up at some stage and are usually unable to deliver exactly on the specified date due to bad weather and other factors. Provision, therefore, should be made for extending current leases, but when the developer is ready for transfer the buyer should very definitely have his cash ready: a delay at this stage can result in a whole tranch of transfers being held back, to the detriment of several buyers.
The good news, said Clarke, is that almost all residential developments in recent years have proved to be steadily appreciating assets. Often something that has irritated an initial buyer was perfectly acceptable to the follow-up purchaser and in general when gardens become more established they add greatly to the attraction of a development.
Rawson Developers and Homebuilders, said Clarke, have certain clients who now own between six and twelve units - a sure sign that such investments tend to pan out well and that these pitfalls are minimised.
