the demand for high-density , lockup-and-go living . However , in some developments , many new units are standing empty . “ This is largely due to the sheer number of units on offer to homebuyers . When deciding whether to invest , buyers will also be weighing up their possible return for units in densely saturated areas .”
“ The term ‘ sectional title ’ refers to ownership of homes in a complex , estate , or development . You don ’ t own the complex ; you simply own the unit that you reside in .”
Full title vs sectional title
When deliberating on full title or sectional title living , potential homebuyers should consider a host of factors . These include your life stage , your plans for the next five to ten years and your affordability .
Full title pros :
1 . Privacy : “ Having extra space and walls around your property gives you a strong sense of privacy .”
2 . Freedom : “ You have the freedom to get pets , paint your walls in the colour of your choice , and undertake internal and external renovations as you please . You don ’ t need to request permission from anyone , aside from letting your neighbours know , as a courtesy , should you renovate .”
Full title cons :
1 . Unexpected costs and upkeep : “ Any maintenance or repair work will need to be handled and funded by you .”
2 . Neighbours : “ There is very little recourse in situations when neighbours are noisy , disruptive or fail to maintain their properties ”.
SA Real Estate Investor Magazine DECEMBER 2022 / JANUARY 2023 61