While it is no secret that Cape Town is one of the most expensive places to buy for first-time homeowners, it’s still possible to find a good home between the R500,000 and R1.5 million price mark.<\/p>\n
This is according to Seeff chairman, Samuel Seeff, who says it is a great time to buy a house in South Africa – especially if you are a first-time homeowner.<\/p>\n
“The latest data from FNB and ABSA shows that more housing loans are granted and by using the services of a mortgage originator such as Ooba, your chances are even better to get a home loan, provided you meet the affordability and credit score criteria,” he said.<\/p>\n
“Although buyers have to contend with higher costs due to petrol price hikes and the recent VAT hike, the interest rate drop at least aided a little in making homes more affordable”.<\/p>\n
“While Cape Town seems pricier for first time buyers compared to Johannesburg\/Pretoria and other areas, there are still many neighbourhoods that offer accessible pricing in the R500,000-R1.5 million range, yet with the same access to excellent amenities and good schools,” he said.<\/p>\n
Richwood, Bothasig and Burgundy Estate<\/strong><\/p>\n “Richwood, Bothasig and Burgundy Estate all offer a number of homes below the R1.5 million mark,” said Seeff”s Johan Jacobs.<\/p>\n “The areas also have easy access to the N7 and N1 and are close to the Table View, Milnerton, Blouberg and Century City areas making them sought-after options for budget-conscious buyers,”<\/p>\n “In Bothasig and Richwood, you can find a house in the R1.3 million -R1.5 million price range while Burgundy Estate offers apartments from R1 million, houses from R1.8 million and rentals from R8,500\/month,” he said.<\/p>\n Mitchell\u2019s Plain, Capricorn Beach Estate and Costa da Gama<\/strong><\/p>\n Cape Town\u2019s South Eastern Suburbs also offer great affordability according to\u00a0said Seeff”s Gary Grobbelaar, while Mitchell\u2019s Plain for example offers excellent small houses in the R500,000-R900,000 price range, he said.<\/p>\n “Adjacent to Muizenberg, at the bottom end of the M5, you will find Costa da Gama and the Capricorn Beach Estate, both offering excellent affordability,” he said.<\/p>\n “Capricorn Beach Estate offers several developments with a mix of apartments and townhouses in a secure setting with play parks for children, two swimming pools and a walkway to the beach. Prices range from around R1.2 million for a small two-bedroomed home in the estate.”<\/p>\n Costa da Gama also includes a number of developments such as Villa d\u2019Algarve, a beach front estate where you can buy a three-bedroomed ground floor apartment for R1.2 million according to Seeff agent, Paul de Roos.<\/p>\n “Sunrise Villas offers a temperature controlled swimming pool and apartments in the R850,000-R950,000. A little further back, you can find a three bedroomed home for R1.3 million in Cannon Island Villas.<\/p>\n “The area offers excellent facilities including the Capricorn Shopping Centre for conveniences as well as access to the Southern Suburbs,” Roos said.<\/p>\n Brackenfell, Kraaifontein and Kuilsriver<\/strong><\/p>\n “Although it is a bit of a commute to the city and beaches, it is well worth it for the price paid per square meter,”\u00a0said Seeff”s Karla Coetzee.<\/p>\n “These northern suburb areas offer a laid-back, family-conscious lifestyle with affordable, yet spacious apartments and homes near popular schools.<\/p>\n “Add to that, good access to the N1 and taxi, bus and rail services around every corner. Aside from all the excellent conveniences, you can find great sports facilities. Some homes also offer beautiful views of the Winelands,” she said.<\/p>\n According to\u00a0Coetzee prices start at around R500,000 for a flat in Kuilsriver (St Dumas) and upwards of R980,000 for houses (Highbury and Hagley).<\/p>\n Kraaifontein apartments start at R650,000 (located in well-known estates) and spacious houses from R850,000 (Belmont Park, Peerless Park East and West) while homes near Cape Gate Mall start from R1.4 million.<\/p>\n Brackenfell flats are popular therefore they range from R750,000 and townhouses at R1.5 million.<\/p>\n
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