WELCOME To your future - DON'T LIKE MISSING OUT?
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WELCOME To your future DON’T LIKE MISSING OUT? An insider’s guide to living at Raceway Park WHAT IS RENTAL YIELD? Call us on 079 824 0064 today Property investment with real returns racewaypark.co.za
THE FAMILY HOMES AT RACEWAY PARK WELCOME TO YOUR FUTURE! THE CHIEF EXECUTIVE PLUS BECOMING A HOMEOWNER IN MANGAUNG 2-bathrooms. Raceway Park even provides for HAS NEVER BEEN EASIER. extended families with choice family homes sporting en-suite granny flats with separate Especially since word got out that the family entrances! homes at Raceway Park are now on the market 66,67m2 from R590 000 for as little as R590,000. This brand new Apart from the Raceway Park website, where Bloemfontein neighbourhood, situated a mere you can download the complete informational 5 km from the CBD and only 3 km from the sales pack, anyone can visit the Raceway Park Bram Fischer International Airport, is at the Show Village from Monday – Saturday, between heart of new growth and development in the 9am and 6pm to view the family homes on Mangaung district. Future elements and show and to speak to the dedicated on-site RENT ME AT community facilities within the Raceway Park sales agent. R4 800 residential development include a school, a /MONTH crèche and retail. Construction has also started Upon such a visit, you might notice the on a spacious public park space with a mini multi-storey buildings under construction football field, running track and playgrounds. around the already completed collection of freestanding family homes. These security Setting itself apart by offering top-class villages form part of the next exciting phase of • 2 Bedrooms brick-and-mortar constructed homes with Bloemfontein’s newest neighbourhood and will • 1 Bathroom modern architectural design, water-wise comprise modern 2-bedroom apartments for WITH landscaping, energy efficient hot water and rent and for sale. Watch this space for the • Garage GARAGE prepaid electricity meters, Raceway Park launch dates and latest news on the best new • Open plan kitchen-lounge truly means business with the tagline: apartment deals in the whole of the Free State. • Solar hot water WELCOME TO YOUR FUTURE! With six Also, make sure to read the article on Rental different house designs to choose from, Yield on page 11 of this publication. • Prepaid electricity meter opportunities range from stylish 2-bedroom, 1-bathroom houses with lock-up garages to Why stress about paying your bond if your 3-bedroom family homes with no less than tenant can be paying it for you? THE PREMIUM FAMILY 62,82m2 from R600 000 • 3 Bedrooms • 1 Bathroom • Open plan kitchen-lounge TOMORROW • • Solar hot water Prepaid electricity meter BELONGS TO THOSE WHO RENT ME AT R5 800 PREPARE FOR /MONTH IT TODAY Disclaimer: This image is an artist’s impression. Please note that the final layout of this unit may vary. Tiling, furniture and appliances not included. Finishes may vary subject to availability. Please refer to the approved building plan and the schedule of finishes within the sales document.
THE DELUXE FAMILY THE ELITE FAMILY 67,77m2 from R640 000 73,60m2 from R680 000 • 3 Bedrooms • Open plan kitchen-lounge • 3 Bedrooms 2 Bathrooms • Solar hot water • 2 Bathrooms • • Prepaid electricity meter • Garage WITH • Open plan kitchen-lounge GARAGE • Solar hot water • Prepaid electricity meter RENT ME AT R6 700 RENT ME AT /MONTH R6 200 /MONTH THE EXTENDED FAMILY THE PREMIUM FAMILY PLUS 69,70m2 from R670 000 81,25m2 from R690 000 • 3 Bedrooms • 3 Bedrooms • 1 Bathroom • 1 Bathroom WITH Open plan kitchen-lounge GARAGE • • Garage • En-suite Granny Flat • Open plan kitchen-lounge • Solar hot water • Solar hot water • Prepaid electricity meter • Prepaid electricity meter RENT ME AT RENT ME AT R6 900 R7 000 /MONTH /MONTH * * Disclaimer: This image is an artist’s impression. Please note that the final layout of this unit may vary. Tiling, furniture and appliances not included. Finishes may vary subject to Disclaimer: This image is an artist’s impression. Please note that the final layout of this unit may vary. Tiling, furniture and appliances not included. Finishes may vary subject to availability. Please refer to the approved building plan and the schedule of finishes within the sales document. availability. Please refer to the approved building plan and the schedule of finishes within the sales document.
THE SALES PROCESS STEP 1 - I LIKE IT! I WANT IT! Keep calm and complete an OFFER TO PURCHASE. The Offer to Purchase contains all terms and conditions agreed upon by the buyer and seller, such as the sale being subject to bond approval. STEP 2 - CAN I AFFORD THIS? Very important question. Before applying for a home loan, it is wise to calculate how STEP 1 much you can afford to pay towards monthly bond repayments. It’s time to pay a visit to the bank with the following documents on hand: I LIKE IT! I WANT IT! • Proof of income • A South African bar-coded or Smart Card identification document • Copy of the OFFER TO PURCHASE (OTP) • Proof of current residential address (municipal account, Telkom account or STEP 2 • valid TV license) Salary earners: most recent salary slip or banking statement for the last 3 month’s CAN I AFFORD THIS? • A letter from your employer which will be followed by a telephone confirmation to your employer STEP 3 STEP 3 - THE TRANSFER ATTORNEY THE TRANSFER ATTORNEY The Transfer Attorney, appointed by the seller, prepares the necessary documentation including the Title Deed, Rates Clearance Certificate (proof from the municipality that rates and taxes are up to date) and cancellation figures from the bank. Transfer costs are included in the purchase price of the unit. STEP 4 STEP 4 - THE BOND ATTORNEY THE BOND ATTORNEY The Bond Attorney prepares the bond documentation with the buyer, including the home loan account. Once received, the transfer attorney will submit these documents to the Deeds Office and the Cancellation Attorney will receive copies for cancellation of the seller’s bond. Bond costs are not included in the purchase price. STEP 5 THE DEEDS OFFICE STEP 5 - THE DEEDS OFFICE Once all documents have been signed and costs paid, the information will be simultaneously lodged at the Deeds Office by the relevant attorneys for verification. STEP 6 Once verified, all attorneys will be notified. REGISTRATION AND TRANSFER STEP 6 - REGISTRATION AND TRANSFER STEP 7 On the day of registration, the bank pays out the home loan amount and the buyer officially becomes the owner of the property. HAND OVER STEP 7 - HAND OVER Congratulations! You are now officially the registered home owner. You will be contacted by the Clerk of Works for the handover of your keys. You will receive a handover pack including all certificates and builders’ warranties. Familiarise yourself racewaypark.co.za with the content and keep this somewhere safe.
RENTAL YIELDS INVEST TODAY WHAT IS RENTAL YIELD? HOW IS RENTAL YIELD CALCULATED? Why then, he asks himself, should he commit to Currently, this amount is approximately R450 / Rental yield is a measure of how much cash an the bond payments of a house that he won’t even month, which adds up to R 5,400 over a one year income-generating asset produces each year, as a live in? period. Let us take the Chief Executive Plus unit as an percentage of that asset’s value. For real estate, it WELL, THIS IS WHERE RENTAL YIELD STEPS example. is the rental income that a house generates as a Our rental agents calculated a realistic monthly INTO THE PICTURE! percentage of the value of that house. The unit costs R 590, 000 and to be able to rental price of R 4,800 for the Chief Exutive Plus, You see, what Mr. Mokoena has recently realised lease it out easily, one would have to spend WHY IS IT IMPORTANT? which puts its annual rental income at R57,600. is that the Rental Yield on a Raceway Park family another ± R 40,000 fitting it out. Let’s sketch a little scenario: home is so good, that he doesn’t even have to That brings the total property cost to around Keep in mind that the rent will increase by a certain Mr. Mokoena decides that he would like to invest in a think twice about buying that secure future for R 630,000. The annual expenses on such a percentage every year! Now it is easy to calculate secure future for his children, and he already knows his children. If he buys a house in Raceway Park, property are the rates, taxes and council water the rental yield by using the following Rental Yield that buying property is the best investment that he he can rent it out and use that monthly rent to pay bill. formula: could possibly make. Mr. Mokoena is, however, very his bond with. In other words: his tenant pays the happy where he is living at the moment and he bond for him! doesn’t necessarily want to move into a new home. Estimated rental yield projections for the homes at Raceway Park RENTAL YIELD CALCULATOR ITEM SUMMARY MONTHLY ANNUAL 1 2 Rental Recommended and R4 800 R57 600 income market-related rent CHIEF EXECUTIVE PLUS PREMIUM FAMILY 66,67 m2 62,82 m2 MINUS 2 Bedroom, 1 Bathroom, Garage 3 Bedroom, 1 Bathroom Expenses Rates, taxes and R450 R5 400 Selling Price - R590 000 Selling Price - R600 000 council water Monthly Rent - R4 800 Monthly Rent - R5 800 Estimated Rental Yield Estimated Rental Yield DIVIDED BY = 8.29% = 10.03% Property Sales price + R40K R590 000 value for fittings + R 40 000 = R630 000 3 4 MULTIPLIED BY 100 = ESTIMATED RENTAL YIELD - 8.29% DELUXE FAMILY ELITE FAMILY With a rental yield of 8.29%, your bond is almost covered and as the rental amount increases, so does your 67,77 m2 73,6 m2 rental yield. Within 5 – 7 years, and if managed correctly, such a deal can result in more than just your bond 3 Bedroom, 2 Bathroom 3 Bedroom, 2 Bathroom, Garage being covered, you can even make a profit on your rental yield! Selling Price - R640 000 Selling Price - R680 000 Monthly Rent - R6 200 Monthly Rent - R6 700 Estimated Rental Yield Estimated Rental Yield = 10.15% = 10.42% 5 6 PREMIUM FAMILY PLUS EXTENDED FAMILY PROPERTY 81,25 m2 3 Bedroom, 1 Bathroom, Garage 69,7 m2 3 Bedroom, 2 Bathroom, Granny flat INVESTMENT WITH REAL RETURNS Selling Price - R690 000 Selling Price - R670 000 Monthly Rent - R6 900 Monthly Rent - R7 000 Estimated Rental Yield Estimated Rental Yield = 10.60% = 11.07%
WELCOME TO YOUR FUTURE! BRAM FISCHER AIRPORT BLOEMFONTEIN CBD N8 5KM 3KM Mimosa Mall 7 km Bloemfontein High School 5 km Botshabelo 52 km Twin City Mall 5 km St Andrew’s School 8 km Thaba Nchu 56 km Central Park Centre 5 km Bloemfontein Primary School 6 km Maseru 137 km University of the Free State 14 km racewaypark.co.za Sales Agent: 079 824 0064
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