WELCOME [racewaypark.co.za] · 2018. 11. 22. · WELCOME TO YOUR FUTURE! TOMORROW BELONGS TO THOSE WHO PREPARE FOR IT TODAY BECOMING A HOMEOWNER IN MANGAUNG HAS NEVER BEEN EASIER

WELCOME

DON’T LIKE MISSING OUT?

To your future

An insider’s guide to living at Raceway Park

WHAT IS RENTAL YIELD?Property investment with real returns

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Call us on079 824 0064

today

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to the airport

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to the airport

to Botshabelo / Thaba Nchu

WELCOME TO YOUR FUTURE!

TOMORROW BELONGS TO THOSE WHO PREPARE FOR IT TODAY

BECOMING A HOMEOWNER IN MANGAUNG HAS NEVER BEEN EASIER.

Especially since word got out that the family homes at Raceway Park are now on the market for as little as R590,000. This brand new Bloemfontein neighbourhood, situated a mere 5 km from the CBD and only 3 km from the Bram Fischer International Airport, is at the heart of new growth and development in the Mangaung district. Future elements and community facilities within the Raceway Park residential development include a school, a crèche and retail. Construction has also started on a spacious public park space with a mini football field, running track and playgrounds. Setting itself apart by o�ering top-class brick-and-mortar constructed homes with modern architectural design, water-wise landscaping, energy e�cient hot water and prepaid electricity meters, Raceway Park truly means business with the tagline: WELCOME TO YOUR FUTURE! With six di�erent house designs to choose from, opportunities range from stylish 2-bedroom, 1-bathroom houses with lock-up garages to 3-bedroom family homes with no less than

2-bathrooms. Raceway Park even provides for extended families with choice family homes sporting en-suite granny flats with separate entrances! Apart from the Raceway Park website, where you can download the complete informational sales pack, anyone can visit the Raceway Park Show Village from Monday – Saturday, between 9am and 6pm to view the family homes on show and to speak to the dedicated on-site sales agent.

Upon such a visit, you might notice the multi-storey buildings under construction around the already completed collection of freestanding family homes. These security villages form part of the next exciting phase of Bloemfontein’s newest neighbourhood and will comprise modern 2-bedroom apartments for rent and for sale. Watch this space for the launch dates and latest news on the best new apartment deals in the whole of the Free State.Also, make sure to read the article on Rental Yield on page 11 of this publication.

Why stress about paying your bond if your tenant can be paying it for you?

THE CHIEF EXECUTIVE PLUS

66,67m2 from R590 000

• 2 Bedrooms• 1 Bathroom• Garage• Open plan kitchen-lounge• Solar hot water• Prepaid electricity meter

WITH GARAGE

THE PREMIUM FAMILY

62,82m2 from R600 000

• 3 Bedrooms• 1 Bathroom• Open plan kitchen-lounge• Solar hot water• Prepaid electricity meter

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 FAMILY HOMES AT RACEWAY PARK

RENT ME AT R5 800 /MONTH



THE DELUXE FAMILY

67,77m2 from R640 000

THE EXTENDED FAMILY

69,70m2 from R670 000

*

•

3 Bedrooms•

2 Bathrooms•

Open plan kitchen-lounge•

Solar hot water•

Prepaid electricity meter

• 3 Bedrooms• 1 Bathroom• Open plan kitchen-lounge• En-suite Granny Flat• Solar hot water• Prepaid electricity meter



• 3 Bedrooms• 2 Bathrooms• Garage

• Open plan kitchen-lounge• Solar hot water• Prepaid electricity meter

WITH GARAGE

• 3 Bedrooms• 1 Bathroom• Garage• Open plan kitchen-lounge• Solar hot water• Prepaid electricity meter

WITHGARAGE




THE ELITE FAMILY

73,60m2 from R680 000

THE PREMIUM FAMILY PLUS

81,25m2 from R690 000

*

THE SALES PROCESS

STEP 1I LIKE IT! I WANT IT!

STEP 2CAN I AFFORD THIS?

STEP 3THE TRANSFER ATTORNEY

STEP 4THE BOND ATTORNEY

STEP 5THE DEEDS OFFICE

STEP 6REGISTRATION AND TRANSFER

STEP 7HAND OVER

racewaypark.co.za

STEP 2 - CAN I AFFORD THIS?Very important question. Before applying for a home loan, it is wise to calculate how much you can a�ord to pay towards monthly bond repayments.

It’s time to pay a visit to the bank with the following documents on hand:

• 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 valid TV license)

• Salary earners: most recent salary slip or banking statement for the last 3 month’s

• A letter from your employer which will be followed by a telephone confirmation to your employer

STEP 1 - I LIKE IT! I WANT IT!Keep calm and complete an OFFER TO PURCHASE.

The O�er to Purchase contains all terms and conditions agreed upon by the buyer and seller, such as the sale being subject to bond approval.

STEP 3 - THE TRANSFER ATTORNEYThe 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 - THE BOND ATTORNEYThe 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 O�ce and the Cancellation Attorney will receive copies for cancellation of the seller’s bond.

Bond costs are not included in the purchase price.

STEP 7 - HAND OVERCongratulations! You are now o�cially 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 with the content and keep this somewhere safe.

STEP 6 - REGISTRATION AND TRANSFEROn the day of registration, the bank pays out the home loan amount and the buyer o�cially becomes the owner of the property.

STEP 5 - THE DEEDS OFFICEOnce all documents have been signed and costs paid, the information will be simultaneously lodged at the Deeds O�ce by the relevant attorneys for verification. Once verified, all attorneys will be notified.

RENTAL YIELDS

1CHIEF EXECUTIVE PLUS

66,67 m2

2 Bedroom, 1 Bathroom, GarageSelling Price - R590 000Monthly Rent - R4 800Estimated Rental Yield

2PREMIUM FAMILY

62,82 m2

3 Bedroom, 1 BathroomSelling Price - R600 000Monthly Rent - R5 800Estimated Rental Yield

WHAT IS RENTAL YIELD?

Rental yield is a measure of how much cash an income-generating asset produces each year, as a percentage of that asset’s value. For real estate, it is the rental income that a house generates as a percentage of the value of that house.

WHY IS IT IMPORTANT? Let’s sketch a little scenario:

Mr. Mokoena decides that he would like to invest in a secure future for his children, and he already knows that buying property is the best investment that he could possibly make. Mr. Mokoena is, however, very happy where he is living at the moment and he doesn’t necessarily want to move into a new home.

Why then, he asks himself, should he commit to the bond payments of a house that he won’t even live in?

WELL, THIS IS WHERE RENTAL YIELD STEPS INTO THE PICTURE!

You see, what Mr. Mokoena has recently realised is that the Rental Yield on a Raceway Park family home is so good, that he doesn’t even have to think twice about buying that secure future for his children. If he buys a house in Raceway Park, he can rent it out and use that monthly rent to pay his bond with. In other words: his tenant pays the bond for him!

Estimated rental yield projections for the homes at Raceway Park

= 8.29% = 10.03%

4ELITE FAMILY

73,6 m2


= 10.42%

5PREMIUM FAMILY PLUS

81,25 m2


= 10.60%

6EXTENDED FAMILY

69,7 m2

3 Bedroom, 2 Bathroom, Granny flatSelling Price - R670 000Monthly Rent - R7 000Estimated Rental Yield

= 11.07%

3DELUXE FAMILY

67,77 m2

3 Bedroom, 2 BathroomSelling Price - R640 000Monthly Rent - R6 200Estimated Rental Yield

= 10.15%

INVEST TODAY

PROPERTY INVESTMENT WITH REAL RETURNS

RENTAL YIELD CALCULATOR

ITEM SUMMARY MONTHLY ANNUAL

Rental income

Recommended and market-related rent

R4 800 R57 600

Expenses Rates, taxes and council water

R450 R5 400

MINUS

Property value

Sales price + R40K for fittings

R590 000+ R 40 000= R630 000

DIVIDED BY

MULTIPLIED BY 100 = ESTIMATED RENTAL YIELD - 8.29%

With a rental yield of 8.29%, your bond is almost covered and as the rental amount increases, so does your rental yield. Within 5 – 7 years, and if managed correctly, such a deal can result in more than just your bond being covered, you can even make a profit on your rental yield!

HOW IS RENTAL YIELD CALCULATED?

Let us take the Chief Executive Plus unit as an example.

The unit costs R 590, 000 and to be able to lease it out easily, one would have to spend another ± R 40,000 fitting it out.

That brings the total property cost to around R 630,000. The annual expenses on such a property are the rates, taxes and council water bill.

Currently, this amount is approximately R450 / month, which adds up to R 5,400 over a one year period.

Our rental agents calculated a realistic monthly rental price of R 4,800 for the Chief Exutive Plus, which puts its annual rental income at R57,600.

Keep in mind that the rent will increase by a certain percentage every year! Now it is easy to calculate the rental yield by using the following Rental Yield formula:

racewaypark.co.za Sales Agent: 079 824 0064

N8

5KM 3KM

BLOEMFONTEINCBD

BRAM FISCHERAIRPORT

WELCOME TO YOUR FUTURE!

Mimosa Mall 7 kmTwin City Mall 5 kmCentral Park Centre 5 km

Botshabelo 52 kmThaba Nchu 56 kmMaseru 137 km

Bloemfontein High School 5 kmSt Andrew’s School 8 kmBloemfontein Primary School 6 kmUniversity of the Free State 14 km

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WELCOME [racewaypark.co.za] · 2018. 11. 22. · WELCOME TO YOUR FUTURE! TOMORROW BELONGS TO THOSE WHO PREPARE FOR IT TODAY BECOMING A HOMEOWNER IN MANGAUNG HAS NEVER BEEN EASIER