Top considerations when purchasing a holiday home

With the festive season around the corner, many will have their minds set on taking a break and spending some time in one of the country’s sought-after leisure destinations. 

Not only is the holiday period a great time to get away and relax, it is also the ideal time for potential holiday home buyers to visit the areas they wish to purchase a home in.

According to Simon and Kim Peacock, Broker/Owners of RE/MAX Dolphin Realtors, whose offices service KwaZulu-Natal’s northern coast from La Mercy all the way to Zinkwazi, those who are contemplating purchasing a holiday home can use this time to get a feel for the destination of their choice. “Considering that a property purchase of any kind is a long-term commitment, it is important that the buyer decides on a destination that they will be happy to visit every year,” says Peacock.

 “Location is a highly important factor with any property purchase because it determines so much of the home’s investment potential. When purchasing a holiday home there is an added dimension to selecting the location, as it must also be a place that the buyer and their family thoroughly enjoy visiting.”

Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, says that apart from security, lifestyle offering is a driving force behind buyers selecting the homes that they do. “When it comes to purchasing a home, especially for leisure purposes, buyers place a lot of importance on the lifestyle benefits that the home and its surrounds offer. Buyers want homes that are well-situated to the area attractions and lifestyle elements,” says Goslett.

Peacock says that there is a very high demand for properties along the Ballito beachfront due to their direct access to pristine beaches. These homes are also within walking distance to shops, restaurants and night life. “Properties along the beachfront also yield an excellent return in the holiday letting market as well as enjoying excellent capital growth,” he says. “I expect that the highest demand during this holiday season will be for homes priced between R2 million and R4 million. The price range is vast, but this is due to several factors such as proximity to the beach, ocean views and whether or not the property is situated within a secure estate.”

They note that the estates on the north coast namely, Zimbali Coastal Resort; Simbithi Eco and Golf Estate, Dunkirk Estate and Brettenwood, offer a secure, resort-style home-away- from-home and will also be in high demand this December. “These estates are all close to the beaches and provide the owners with peace of mind.”

Peacocks says that there are a few aspects that buyers should consider when purchasing a holiday home:

1. Proximity to the beach

2. Whether or not the home will be let out when not in use in order to get a return on  investment

3. The levies or Home Owners Association fees payable if the property is sectional title or within an estate as this is an additional monthly cost

4. Is the holiday apartment or home required to be pet friendly?

“When selecting a property, buyers should pay attention to any additional monthly costs such as special levies. Security is also an important aspect for a holiday home, as it will be left unoccupied for extended periods of time. Maintenance should be considered as holiday homes need to be maintained on a regular basis – especially ones at the coast. If the owner cannot maintain the property themselves, they should consider hiring a garden service and a cleaning service to regularly air and clean the property,” adds Peacock.

She notes that it is essential that the prospective buyer works with a qualified agent who specialises in the area to ensure that they get the right holiday property for them.

In closing, Peacock says that property is considered to be a strong asset class in which to invest, particularly over the medium to long term. “A leisure property can prove to be a home to enjoy as well as an investment that generates healthy returns.”

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us