Affordable homes in East Rand estate
Category Affordable Housing
Following their successful completion of the Protea Glen Estate in Soweto, Renico Construction will again be the contractors for Sharon Park Lifestyle Estate on the East Rand – another Affordable Housing Development”
Affordable homes in East Rand estate
The prices of property in lifestyle estates usually tie in with the higher standard of living than a so-called “lifestyle estate” offers.
However, at Sharon Park Lifestyle Estate, the developers are building what they have promised at prices that are all inclusive and are in the affordable market segment, says Gavin Vickers, managing director of Kairos, the company mandated to market the homes in the estate.
Sharon Park is situated between Springs and Nigel on the East Rand and the demand outstrips supply of homes in the affordable bracket.
There are 400 existing homes on the site, from a previous development that struggled during 2008, but Hlala Kamnandi Developments recently took over the remaining land and will be adding 1 300 full title freestanding homes to the development.
The prices are from R305 000 for two bedroom 44 square metre homes to R429 000 for the largest, which is 82 square metres with three bedrooms and two bathrooms, as well as a garage.
The homes will have all the finishes one would find in a standard new home, fitted countertops and kitchen fixtures. Vickers says this makes them different from other affordable developments where the buyer usually gets a basic “shell” which he pays extra to kit out with the finishes of his choice. The living areas will be tiled, bedrooms carpeted and the garden’s lawn and home security is included in the price, which is virtually unheard of, he says.
The living areas will be tiled, bedrooms carpeted and the garden’s lawn and home security is included in the price.
The main focus at Sharon Park will be providing a quality home and educating the public about the importance of property ownership and buying their own homes, Vickers says.
“Johann Grobler, the founder of Hlala Kamnandi, has always said that his philosophy is to offer decent housing, with lower margins for the company, to be able to provide a home of a superior standard at an affordable price. He believes in making a difference in people’s lives.”
At Sharon Park there are seven house plans available which provide a north and south street orientation to maximise the use of natural light. These have a choice of four different external finishes and two different roof types, which ultimately gives the buyer 56 different architectural styles from which to choose.
Vickers says the feel of the estate will be upmarket, with a family orientated lifestyle of security and safety provided by a fully walled estate with guarded entrance and exit points, and electric fencing around the entire estate.
He says however, as with many affordable housing sales projects, there are often delays in getting sales through because of complications with bond approvals and because they are working with such tight margins, managing the reports to go back to banks for finance, can be irksome. "For this reason Kairos has enlisted the help of RED-i (Real Estate Developments Interactive) who have helped, through SIMS (Sales Information Management System), manage the processes and offered a transparent way of checking figures and balances.”
There is a three year plan at Sharon Park, where 350 homes will be built this year, 350 next year and the balance in 2015, says Vickers, which is "ambitious and exciting”.
SIMS will help in managing the sales and progress of sales of these units efficiently. Kairos is enlisting the help of local people in the sales and administration and, by involving the community, hopes to create new opportunities and integration into new careers, says Vickers.
He says selling homes in the affordable sector doesn’t end with selling the home. “It usually comes with educating buyers, assisting later with management or implementation of the HOA or body corporate and then education on maintaining value of the properties, which we aim to do here."
http://www.property24.com 23 Jul 2013
Author: property24.com
