Are you dreaming of a brand-new apartment, tailored to your preferences, and situated in a prime location in prestigious Waterkloof? The key to turning that dream into a reality might be closer than you think. Purchasing off-plan directly from the developer at Waterkloof Park not only offers a unique opportunity to customise your space but can also be a smart financial move, potentially saving you a substantial amount of money.
The off-plan advantage
When you buy off-plan, you are essentially purchasing a property before it’s completed, based on architectural plans and design concepts. This early commitment to your future home can translate into significant cost savings.
Here’s how:
Transfer duty savings
Opting to purchase your new apartment directly from the developer at Waterkloof Park offers a substantial financial advantage by bypassing transfer duty. You may be wondering, what is transfer duty? This is a tax paid to SARS on the transfer of the property. In many cases, for property between R1 512 501 – R2 117 500, the buyer has to pay R12 375 and 6% of the value above R1 512 500. When you purchase a 2-bedroom apartment within Waterkloof Park off-plan, you potentially save R124 449 on transfer duty!
Save on transfer costs
While many off-plan developments you do not need to pay transfer duty, you do have to pay towards the transfer cost. These fees are paid to the conveyancer for transferring the property from the seller to you and having it registered in your name. As part of the Waterkloof Park offering, this is included in your purchase, meaning you do not need to pay towards the transfer costs at a later stage.
On a 2-bedroom apartment, starting from R1 867 900, with a R20 000 reservation fee, you can save R41 612 on transfer costs, including VAT.
Cut on Bond Registration Costs
In addition to the savings from transfer costs, buying off-plan directly from the developer at Waterkloof Park you also have the bond registration costs included in your purchase.
Bond registration costs are the fees associated with the process of registering a mortgage bond with the relevant authorities when obtaining a home loan. This financial benefit adds another layer of affordability to your home purchase.
Bond registration costs, associated with traditional property financing, can be a substantial portion of the overall expenses paid upfront.
On a 2-bedroom apartment, starting from R1 867 900, with a R20 000 reservation fee, you can save R47 650 on bond registration costs, including VAT.
By sidestepping this expense, you not only save money upfront, but also benefit from a streamlined and cost-effective home-buying experience.
Use the ooba transfer cost calculator to do your own calculation, factoring in the loan amount you expect to receive from the bank.
These financial advantages provide you with the flexibility to allocate resources strategically, ensuring that your investment goes directly into creating the perfect home at Waterkloof Park.
Saving on energy costs
Your Waterkloof Park apartment is a great investment in modern living, offering a convenient lock-up-and-go lifestyle. Each apartment will come with backup energy efficiencies ensuring you can continue achieving your goals and meeting deadlines.
In today’s modern world, you cannot afford not to be energy efficient. Your investment in a Waterkloof Park apartment aligns seamlessly with this ethos of contemporary living, giving you an added advantage over other, older properties in the Waterkloof area.
With features such as full backup electricity and water systems, coupled with a commitment to energy and water efficiency, Waterkloof Park not only provides a comfortable and convenient living space but also reflects a forward-thinking approach to sustainable and responsible living.
Embracing such features not only enhances your daily life, but it also contributes to a more resource-efficient and environmentally conscious way of life.
An ideal apartment in an ideal location
With all these cost savings, Waterkloof Park goes above and beyond other developments on the market. It is also ideally situated to save you on commute time and petrol costs associated with the usual traffic in other areas.
Within close proximity to Waterkloof Park are shops, restaurants, nature trails and quick access to freeways. In this ideal location, you will always stay connected to the hustle of Pretoria.
Off-plan appreciation
Did you know, as developments undergo construction, the value of your investment is increasing. As it typically takes 1 – 2 years to build, your investment can enjoy significant capital appreciation. New developments within Waterkloof have experienced a year-on-year growth of 25% in the price per square metre achieved since 2017.
Activity onsite
When can you walk into your brand new Waterkloof Park apartment? We’ve estimated a completion date of between October 2024 – December 2024. Read on to see the estimated construction dates for Waterkloof Park.
So, why wait? Secure your off-plan investment in Waterkloof Park and reserve the 2 or 3-bedroom Waterkloof Park home that you’ve been dreaming of. Contact our friendly development consultants to enquire today and capitalise on these lucrative cost savings.
