Complex rules, finances and levies – What to ask when eyeing a sectional title.
In South Africa, if you are a middle-income earner, working in an urban centre, and have kids who attend suburban schools, buying a sectional title may seem to make a lot of sense. The advantages could include things such as shared
Why sectional title education is crucial for the homeowner community.
For most people, their home is their biggest and most important asset. However, unlike other big assets, the sectional title home tends to be the least researched and understood asset prior to purchase. That is, sectional title buyers focus heavily
The pro’s and con’s of sectional title ownership.
Sectional title living has grown in popularity over the last decade for reasons which include heightened security and a more communal way of living. Sectional titles tend to be more affordable which makes it easier for young people to own
Sectional title schemes for beginners.
Once you purchase a property in a sectional title scheme, you will automatically, by operation of the law, become a member of the body corporate. You cannot purchase a property in a sectional title scheme and then refuse to become
A warning for South Africans living in complexes and estates.
If you live in a sectional title complex and are racking up arrear levies and electricity charges, you could find your power cut off and, if you still fail to pay, your property attached and sold. You will also be