There are a number of things to take into account when you buy a sectional title property. Most of the points listed below are there to protect you but also to ensure that everyone is treated fairly. Living in very close proximity to many other people, usually with just a wall between you, comes with a certain amount of stress but can also be an advantage when it comes to the security of your property.
- The complex will have a set of rules, sometimes called house rules, that inform you of what is and is not allowed. It will cover topics like whether or not pets are allowed to live in the complex and whether or not washing may be hung out to dry on balconies. Some complexes have very strict rules regarding many things others will have a more basic list. Be aware of the house rules before you buy as it would be a shame to have to get rid of your cat if he is not allowed to live there.
- The body corporate is a legal entity that is made up of all the owners in the complex. The body corporate will manage certain aspects of the property, like communal areas.
- You, as an owner, will also have to pay a monthly levy to the complex on top of paying your bond. This money is used to maintain, improve and service communal areas of the property or things that benefit everyone, like the washing lines or gardens. If you or any other owner is in arrears with their levy payment it could lead to the bankrupting of the complex, therefore legal action can be taken against a person who is in arrears. Before you buy ensure you know exactly how much of a levy you will be paying and what it will be used for.
- Communal areas are the areas of the complex that are available to be used by everyone. They are things like the outer walls, the roof, the braai area and swimming pool. Before you make any plans to alter your sectional title property make sure you know which parts are communal and which are not. You might be surprised.
Remember to visit the property at different times of the day before you buy it. This will clue you in as to what happens on a normal day. Are there noisy teenagers downstairs that blast their music out the windows every Saturday night? Are your immediate next door neighbours prone to loud fighting? If possible ask around the complex about any problem tenants they know of and then figure out how much these people will affect you.
Many people live very happily in a communal environment and with the expense of buying any property these days we may see far more people in the future living in complexes out of necessity. As long as you are aware of what you are getting yourself into, financially and otherwise, you will probably be quite happy.
