Estate Living Magazine New Beginnings - Issue 37 January 2019 | Page 11

P R O P E R T Y
&
affordable R1,000 per night. Bookings for seven nights cover their
costs and anything after that is a profit.
Bond repayment on a property for R14,750 per month over 20
R1.5 million at 10.5% interest
years
Rates, taxes and/or levies R2,000 per month
Total monthly cost R16,750 per month
Hotel accommodation for seven R10,500 per month
nights @R1,500 per night
Rental income for 7–14 nights per R7,000–R14,000 per month
month @R1,000 per night
Total monthly savings/income
R17,500–R24,500+
Of course, this is a simplified overview, and – to maximise the
benefits and savings – you really should consult a professional
financial advisor before committing.
Look at the tax implications, as there are pros and cons to ownership
of the property being with the company or the individual. An
individual will be liable for tax on the rental income, but can charge
the company for the nights stayed. If the business owns the property,
you can’t charge the company but will benefit from savings made
on hotel accommodation.
I N V E S T M E N T
estates that will have you changing your tune to ‘Money For Nothing’
by the legendary band Dire Straits.
Beating Cape Town traffic
On weekday mornings, traffic travelling from the airport towards the
city is to be avoided between 06:15 and 09:00, and in the afternoons
you need to leave the city by 15:30 at the latest to avoid the
gridlock heading out of town. (On a Friday, make that 15:00 as most
Capetonians go home early to get a jumpstart on the weekend.)
If you are not able to leave by 15:30, stay in town or head to the
Waterfront and surrounds until after 18:00 when the traffic is a little
less hectic – and tune in to Magic 828 (828MW) for great music that
will bring back the eighties (and sixties and seventies and nineties) –
interspersed with regular traffic updates.
The first three estates listed below are situated in the Cape
Winelands, which is in the opposite direction to the city when
leaving the airport.If you still know all the words to UB40’s ‘Red Red
Wine’, this area is for you.
Unlike a hotel, which rarely meets all your requirements, a place of
your own can easily be tweaked and stocked with everything you
desire to make a business trip as stress-free and comfortable as
possible. Just having a kitchen, even if you only use it to make your
preferred brand of coffee and heat up frozen meals (which you can
eat in your pyjamas), is a money saver and better than room service
or going out to find food when you are tired and just want to chill.
Set up a workspace the way you like it, and put an end to crawling
under beds looking for plugs and cursing as you look for a late-night
shop that sells extension cords or multi-plugs so that you can charge
all your devices. Have the luxury of a hair dryer that is not plugged
in with the cord coming out of a drawer, and no hope of extending
anywhere near a mirror, or any reflective surface. You get the idea,
right? Location: Just off the N2, 8km before the Somerset Mall and
Somerset West
Priced from: R1.4 million
Levy: R1,500
Transfer costs: None
Cape Town International Airport: 24.6km
CBD: 38.4km
Web: www.sitari.co.za/waterford-place
Accommodation specs: 71 square metres of living space includes
two bedrooms, two bathrooms, a balcony and two parking bays.
Fittings and fixtures include a solar geyser, Grohe sanitary ware, a
glass-panelled walk-in shower, LED downlights, a Miele oven, hob
and extractor, and engineered stone countertops. Ground floor
apartments include a built-in wood braai and a landscaped garden.
Facilities and lifestyle: Parks, wetlands, running, walking and
cycling trails, and a clubhouse. The Sitari Village Mall is scheduled
to open opposite the estate in late 2019. Sitari is close to Strand
Beachfront, Erinvale Golf Estate, and hundreds of excellent wine
estates on the Stellenbosch and Helderberg wine routes.
Location, location, location
Finding a suitable property for under R1.5 million in Cape Town
might have many calling for a sing-along to U2’s ‘I Still Haven’t Found
What I’m Looking For’, but we managed to find six developments or
SITARI ESTATE, WATERFORD
E
Little things can make a big difference By paying 10% more than the minimum bond repayment, you can
knock six years off the length of your bond and save a fortune in
interest. Once you are bond-free you have an investment that not
only generates a market-related income but is also an appreciating
asset for you or your business. The other three are in or close to the vibrant CBD, they are not a
'aerotropolis' investment but good options to investigate, so if you
resonate with Lipps INC belting out ‘Funky Town’, this is where
you want to be. They are also accessible via the MyCiTi bus, which
has a dedicated lane from the airport to the city and can be used
all around the CBD and immediate surrounds, as well as along the
Atlantic Seaboard. You can buy a card at the airport and top it up
when required. That way, you won’t need to rent a car.