Here's a bank repo property in Parklands with an asking price of R699 000. According to the ad in 2006 it sold for over a R1 000 000... Oh well... that's Parklands.
Here's a bank repo property in Parklands with an asking price of R699 000. According to the ad in 2006 it sold for over a R1 000 000... Oh well... that's Parklands.
8 comments:
http://www.crackshackormansion.com/
Am I correct in saying that Parklands is a 'never was' instead of a 'has been'? Or is that being a little harsh?
And what about the mumblings that the next airport in Cape Town will be on the Blouberg side therefore rendering Parklands a 'goldmine'?
Maybe that was part of the sales pitch so that lemmings could throw their good cash after bad......
The moment I see "Darklands" and "Complex" in the same sentence, that's when I won't even buy from the Sheriff, in execution, not even for a pittance.
As the swear words "gated complex" appear, I see,to begin with, levies the size of a rent, and also, owners of some units defaulting on their levies thus cheating the regular payers of full services.
Might then as well rent a unit instead of buying.
I'll never understand why people don't apply long term vision and just a buy a solid, astutely chosen, free standing unit and spend,once off, what would otherwise have been 5 years worth of "complex levies" to build a fence/wall, electrify and fully alarm their freestanding property to the hilt with quality state of the art equipment and materials.
5 years' worth of "unit levies" well spent in one go on a freestanding house, buys a lifetime of security.
Much better deal than paying levies for 30-40 years.
Money almost totally squandered down the body corporate drain in my opinion.
"5 years' worth of "unit levies" well spent in one go on a freestanding house, buys a lifetime of security."
Very well said that....
however it is that often people don't have that money up front. Same reason some people are trapped in renting even though buying a house would be cheaper in the long run.
"people trapped in renting" I'm not so sure.
People can vacate a rental at any time. Guess who will still be paying for the house and all other costs?
It may be that I am wrong, and if it is so easy to "trap" people into renting I need to invest in a rental property. Preferably with some people trapped inside already.
"Preferably with some people trapped inside already."
*chuckle*
There are some problems in the US where people with negative equity cannot relocate to where the employment is, so when things are going to sh*t, it's better to be renting and be able to relocate.
And an actual study:
"English economist Andrew Oswald has shown that across European countries, and across U.S. states, high levels of home ownership are correlated with high levels of unemployment. More conventional factors such as generous welfare benefits or high levels of unionization don't explain unemployment nearly as well as the tendency to own houses. Renting your home and staying flexible do wonders for your chances of always finding an interesting job to do."
http://www.slate.com/id/2161834/
I am familiar with that property and it was never sold for R1 million...ever. The property in question is being sold by some dodgy agent on Gumtree who is pitching his sales talk. The property is not even worth R699 000in this current market and anybody who pays that price will have negative equity from day one.
I think this is a great property to have. Like the design of the house.
Deirdre G
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