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
N8 N8 to Botshabelo
/ Thaba Nchu
to the airport
to the airport
N8 N8
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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