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Strandfontein a favourite among young buyers

Excellent value-for-money and convenient access to the naval base in Simonstown are attracting large numbers of first-time homebuyers to the village of Strandfontein on the False Bay coast.


This three-bedroom starter home in Bayview, Strandfontein, is typical of the homes priced at R500 000 to R520 000 that are available to young buyers through RealNet Select.
 
“Compact two-bedroom homes on small and manageable stands are particularly popular among young entrants to the market,” says Astrid Smith-De Gruchy of top local agency RealNet Select.
 
"And at prices from around R500 000 these units offer excellent value that gives them an opportunity to become homeowners without over-extending themselves financially."
 
She says many of the young buyers in the area are employed at the naval base in Simonstown and that good access via Beach Road makes commuting a viable option for them, instead of having to rent because they can’t afford the more expensive homes closer to the base.
 
Some young professionals and corporate employees are also active in this market and Smith-DeGruchy says homes marketed through the banks' assisted sales programmes are particularly attractive to such buyers as they are able to save up to 50% on upfront costs such as bond registration and transfer fees.
 
She adds that Strandfontein is also popular among buyers upgrading from nearby Mitchells Plain. "For many buyers from Mitchells Plain this is a step up the property ladders – and a stepping stone to other areas in the Southern or Northern suburbs of Cape Town."
 
Buyers who are upgrading usually target homes in the top segment of the Strandfontein market, which are typically older and larger and may well have been renovated and modernised.Prices for such properties start at around R650 000 and those that have been upgraded or extended can reach prices of up to R900 000.
 
Stock levels are currently low and prices have nudged upwards, but Smith-De Gruchy says the market is very stable. "Young buyers are knowledgeable about property matters and despite the fact that supply is low these buyers take their time and make sure the prices they pay are market-related."


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