select
|

Purpose-driven properties have a place in the current market

Not all property buyers are looking for the same benefits in a house and often buyers end up purchasing a home that is completely different from what they had initially set out to buy in the first place.  “This kind of behaviour from the buying public is driven by the emotional connection to some of the ‘themes’ they experience in a house,” says Linda Erasmus, CEO of Fine & Country Sub-Sahara Africa.


Fine & Country is exclusively instructed to find a buyer who may be inspired by Bauhaus and Le Corbusier and who also can appreciate the value thereof.   The home is situated in the Cape Town suburb of Tamboerskloof.
 
She explains that properties for sale, which are essentially products in a market place, come in different forms, colours and with different themes.  “For example, while newly built and off-plan properties allow for buyers to experiment with their own ideas of theme and colour, choosing  finishes and fittings, existing properties are purchased on a ‘what you see is what you get’ basis; although of course the buyer can make changes later to suit their requirements should they wish. Then you get the exception: a purpose-driven property. These are existing properties that are often owned by artists, architects, designers and sculptors, for example, and over the years they take on some kind of inspirational theme from the owner.”
 
She says that while a purpose-driven home may not fulfil every potential buyer’s needs, there are buyers out there who would be inspired to live in such a home. “It therefore goes without saying that with these types of homes, it often takes much longer to find the right buyer.  The price of house will fall into the normal category of what buyers would be prepared to pay for a property in a specific suburb. And while it may take longer to sell, there should be no real need to drive the price down for a quick sale,” says Erasmus. “The right buyer will find the value in the home and will be able to see the added value of a lifestyle that they cannot easily find elsewhere.”
 
According to Erasmus, owners of these purpose-driven homes should ensure that all the general features of the home compete on the same level of functionality and maintenance as other more general types of homes on the market so that when the right buyer comes along, the benefit of good maintenance and up-to-date interiors complements the artistic elements of the home well enough to secure the sale. For example, Erasmus points out that new bathrooms and kitchens are costly and says that once a house needs those kinds of makeovers, it falls more into a renovation project than a purpose-driven property.
 
Fine & Country is currently marketing a purpose-driven property that will appeal to those that appreciate Bauhaus style. “Inspired by one architect and bought by another in the late nineties, the home’s design reflects Bauhaus architectural style – which was mainly influenced by modernism, English arts and crafts movements and constructivism just after World War 1.  Bauhaus combines creativity and manufacturing and the idea was to rejuvenate design for everyday life while also adding some soul to design,” says Erasmus.
 
This Bauhaus-style home was a showcase for the current owner - who collects 16th Century antiques from the Far East, as well as modern art - through the creation of a living space inspired by art and complemented with furniture of great design.   “Le Corbusier chairs sets off the living spaces. Although they were designed in the early 1920’s the design has certainly added style to living and they are still used by modern designers and architects,” notes Erasmus.
 
“Space today,” says Erasmus, “has a new meaning and homes in city centres in South Africa have become more on par with Europe where luxury living is created in smaller spaces. The current Swiss owner, who became famous for his designs in Japan, fell in love with the Bauhaus style of this property at first sight, and understood how to create an exceptional lifestyle on the slopes of Table Mountain, which is a world renowned landmark and prime position for exclusive residential property.”
 


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 15 Dec 2017
      With much still riding on the outcome of the ANC elective conference later this month (16-20 December 2017) which, coupled with the Budget Speech in February next year (2018), will impact on business and consumer confidence and market sentiment in general, it is expected that South Africa’s residential property market will continue to maintain its resilience, reflecting an ongoing healthy appetite for property investment – particularly in major metros and key hubs.
    • 15 Dec 2017
      The City of Cape Town has approved a drought levy and increased water restrictions to level 6.
    • 15 Dec 2017
      Negativity seems to have become the fashion in SA’s real estate industry over the past few months, but while there will be challenges, the property market is not going to “fall off a cliff” in 2018, says Berry Everitt, CEO of the Chas Everitt International property group.
    • 06 Dec 2017
      Homes situated within residential estates have become a more and more popular option across South Africa. There are, however, some emergency situations when heavily guarded access points to these communities can be more of a hindrance than a help.
    • 06 Dec 2017
      The average year-on-year house price growth for this year was likely to be slower than last year, despite year-on-year house price growth accelerating mildly in recent months.
    • 05 Dec 2017
      Located in dynamic and scenic Kenilworth is The Wentworth, a new development exclusively marketed by Greeff Properties.
    • 05 Dec 2017
      Today's rental market is a competitive place, so when you find the perfect spot it can be tempting to just sign on the dotted line and hope for the best. Sadly, there are more and more scammers who are taking advantage of this opportunity to dupe unsuspecting applicants out of their hard-earned cash.
    • 05 Dec 2017
      Gated communities are increasingly popular with home buyers due to the perceived safety these neighbourhoods offer. “These gated communities are popping up all over the country and while they certainly can boost security, a few issues have been cropping up – specifically referring to road usage,” says Bruce Swain, CEO of Leapfrog Property Group.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK