THERE ARE MANY ADVANTAGES OF BUYING AN OFF-PLAN DEVELOPMENT.
MASON OFFERS LUXURY, EXCLUSIVITY AND A REFINED WAY OF CAPE TOWN LIVING.
Transfer duty is not payable when buying directly from a developer such as Mason. Depending on the purchase price this could save you hundreds of thousands of rands that you could rather put towards stylishly furnishing your new home. It is however, important to note that although there is no transfer duty payable there will still be transfer attorney fees and bond attorney fees (if applicable) payable by the Purchaser on transfer.
One of the greatest benefits to buying off-plan is that the Purchaser is acquiring the property at today’s prices although only paying for it after construction has been completed (except for the 10% deposit due on signature). Typically this period can range from 18 to 24 months from initial launch to completion, so the Purchaser can benefit greatly from the Capital Growth on the property. The average capital appreciation per annum for Cape Town’s City Bowl and Atlantic Seaboard ranges from 16% to 24%.
Buying a brand-new home from Mason gives you peace of mind that there will be no need for ongoing maintenance and repairs and no costly surprises when you move in. Further comfort will also be provided in the various guarantees and warranties associated with the build and fit-out of your new home, from the build structure to your Bespoke Option appliances.
Buying off-plan is one of the easiest ways to get into the property market. A deposit of 10% is only due on signature with the balance of the purchase price due on transfer. This allows the Purchaser to start saving for moving costs, furniture and the inevitable house warming cocktail party. N.B. The balance of the purchase price although not due until transfer, would need to be secured against a Bank Guarantee and / or Bond Approval within 30 days of signature.