Step Inside an ULTRA MODERN HOME in Waterfall Country Estate
ฝัง
- เผยแพร่เมื่อ 8 พ.ค. 2024
- Welcome to another STUNNING video tour! This time, Marussia (LuxLiv Properties) and I have the honour to showcase you this ultra modern home in Waterfall Country Estate, inspired by SG Studio Architects.
You walk onto that driveway, and you know you're in for a treat, let me tell you that! The sheer volume of that entrance immediately takes your breath away, and that continues as you enter its double-volume entertainment space!
Please let us know in the comments below (or DM me) what you thought about this ultra modern home in Waterfall Country Estate, the tour itself, and of course what we can do to up our game! I'm always keeping an open mind and happy to adapt & grow 🤓
PLEASE, do me a HUGE FAVOUR and make sure to LIKE this video and SHARE it with someone you think might enjoy watching it as well.
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Now, let the video do the talking - enjoy!🤩
⚡️PROPERTY DESCRIPTION⚡️
Transcend the ordinary and step into a world of unparalleled luxury. This ultra modern home in Waterfall Country Estate, designed by the visionary minds at SG Studio Architects, is more than just a house - it's an experience.
Imagine pulling into the driveway and gazing upon a residence that embodies flawless design. Step inside to a breathtaking double-volume space, where the open-plan layout seamlessly merges indoor and outdoor living.
Entertain in grand style with expansive lounges that flow effortlessly onto the inviting patio. Prepare culinary masterpieces in the gourmet kitchen, complete with a walk-in pantry and a dedicated scullery for ultimate convenience.
Retreat to the haven of your spacious main bedroom, boasting a private balcony for tranquil moments of reflection.
Every detail, from the expansive open floor plan to the seamless indoor-outdoor connection, has been meticulously crafted to cultivate a truly exceptional living experience.
Indulge in al fresco dining under the stars or unwind in the peaceful embrace of your private oasis. This remarkable residence isn't just a home - it's a testament to modern luxury, offering the perfect blend of comfort, style, and unparalleled convenience.
Embrace the extraordinary. Contact the agent today to schedule a viewing.
⚡️QUICK STATS⚡️
★ Beds: 5
★ Baths: 6
★ Garages: 3
★ House size: 738 m²
★ Stand size: 1,041 m²
★ Levies: ZAR 6,500/mo
★ Rates: ZAR 4,100/mo
★ Location: #WaterfallCountryEstate #Midrand
⚡️ASKING PRICE⚡️
➔ ZAR 20,000,000
➔ USD 1,050,000
➔ EUR 975,000
➔ GBP 850,000
⚡️AGENT DETAILS⚡️
★ Agent: Marussia ➯ +27 (83) 384 0618
★ Email ➯ marussia@luxuryliving.properties
★ Agency ➯ LuxLiv Property Group
⚡️ARCHITECT DETAILS⚡️
★ SG Studio Architects
★ Website: www.sgstudio.co.za
★ Enquiries: +27 (12) 004 1467
★ Email: hello@sgstudio.co.za
⚡️LISTING LINK⚡️
www.luxlivproperty.com/waterf...
⚡️EPISODE CHAPTERS⚡️
00:00 - Trailer
01:04 - Introduction
02:07 - Entrance
03:20 - Open Plan Lounge
04:05 - Dining Area
04:51 - Feature Kitchen
07:57 - Bar Area
10:02 - Covered Patio
10:28 - Gym
11:54 - Poolside Area
13:17 - Boma
14:11 - Home Office
15:05 - TV Lounge
16:51 - Feature Staircase
18:00 - Pajama Lounge
18:48 - Upstairs Kitchenette
20:09 - Main Bedroom Suite
21:03 - Walk-in Closet
21:52 - Main Bathroom
24:26 - 2nd Bedroom En-Suite
26:00 - 3rd Bedroom En-Suite
27:37 - 4th Bedroom En-Suite
29:46 - Guest Bedroom En-Suite
30:58 - Showroom Garages
32:22 - Final Walkthrough Thoughts
Please note that this stunning ultra modern home in Waterfall Country Estate may, or may not, still be available at the time of viewing this video. Feel free to double-check with the agent above.
Music by Epidemic Sounds. Get a free 30-day trial here ➡️ share.epidemicsound.com/5u1pp0i - บันเทิง
Marussia is the best tour guide, she shows every details that makes this houses. from the art to the flooring and wallpapers. stunning job Marussia
100%, Refiloe 😎
That is my house
No this is my house😅
One day; one day 🥰
@tshegofatsomokgosi229 Now now - no fighting here 🤣
Can I stop the fight and just take it and make it our house?😂
@rawamothoa9935 Deal 🤣🤣
Beautiful house indeed and the interior design is stylish, showing that it was given more thought. Love it.
100%, Tintswalo 🤗
Frankly, this abode is my absolute favorite, and I've been captivated by numerous episodes of your showcases. The architectural genius is truly awe-inspiring, and I can't wait to witness more of their breathtaking creations not just scattered across South Africa, but also throughout the mesmerizing southern regions of our beloved continent.
Mission accomplished then 🤗
Appreciate the continued support!
Dream it and achieve it
It is very rare that we see a house like this. Interesting from every angle. From the driveway it already gives you the glimpse of what to expect. The exterior façade is unlike anything we see often. My favourite room would be the office and and the bar. I'm not a cook, but that contemporary kitchen would make me wanna try my luck. Marussia did the things with her outstanding presentation and you Mr X did captured the moment exceptionally well. The cinematography and quality of your videos keeps on amazing us. Thank you so much.
Truly truly stunning!
I don’t blush very often, but you managed to do just that with your kind words, Sompisi🤗
Thank YOU for your continued support!!
Awesome in every aspect. Design, Tones, Lighting. One of my favourites. Good Job and Tour. Thanks Xavier and Marussia ❤😁
Likewise here, my friend! My personal TOP-3 😎
Beautiful house Indeed ❤
انشاء الله بإذن لله سأملك مثل هذه الفيلا وأفضل منها قريبا فإن الله سبحانه وتعالى على كل شيء قدير
One day; one day, inshallah 🤗
Stunning 👌
Truly is stunning, Walter 🤗
Another Home made to perfection
I'm in love
If not SBE architecture or Nico Van Meulen
Then this one, I love it 😍
SG Studio Architects are definitely in that league! You're right, Thabo!
Pls do a fully furnished house tour for this house please. I fell inlove with this one😭
I hear you - I wish this would have been fully furnished as well for the tour. Especially the downstairs area, but sometimes it is what it is.
@@LuxuryHomesJohannesburg so it is not possible for us to get a fully furnished tour?😞.
@@LuxuryHomesJohannesburg i have a question too. I dont know why but i feel like the garages are small. Would a G63 and a range rover autobiography fit in the double garage?
@justkypreneyt We’ve done what we could with this home, I’m afraid.
No re-do of the tour 🤓
@@LuxuryHomesJohannesburg damn🙂
What a stunning home…the presentation is impeccable…your sense of humour guys add a very nice touch 😊
Cheers, Lucky!
And you have NO IDEA the jokes I ended up cutting out in the edit to keep it at least somewhat professional 🤣
These are the things dreams are made of ❤
Yessss, Lethabo 🤩
Beautiful house indeed
Thought so as well 🥰
Xavier and team y never disappoint 🤯😀
Cheers, Mr T 😎
Enjoy watching my favourite property presenter Marussia
What a massive property
I would spend time in the study, well built and that other tv room,it will be just a sitting lounge
Lovely lovely indeed
A home with a study is a must for me
Hear hear, Shadreck! Well said - AND great choice as I concur 😎
Beautiful house
It really is! Thanks for stopping by to comment!
This breath taking stupendously wooowzerr. I have no words, the Finnished, the natural light, the open plan. I'm in love. It's so homely you can live happily with your family. I need this. Thank you guys for the michellin star quality videos
Wow - sounds like it really hit a nerve! Ina good way then of course. Awesome to hear 😎
Appreciate the comps!! Wait till I’m done testing out my new Sony camera…
It really hit the core nerve, can't wait to see what the new camera does
I’ve had it for quite a few weeks now, but the learning curve is just 🚀
I can’t seem to get the colors right. So definitely not ready to have as the main video tour camera just yet!
Take your time enjoy the the challenge. I know you will master it as time goes by. All the best
@oram9112 Thank you for those words of encouragement and support. MUCH appreciated as it’s a lone struggle here behind the camera/keyboard at times 🤗🤗
💞💞💞
Beautiful house 😭😭😭😭😭
Very much so 🥰
Took a break from Social media only to come back to this gorgeous video...great tour Mr X🔥🤘
Welcome back - glad to hear this 'social media cheat' was worth it! 🤣
“Fully inhale your dream and completely exhale manifestation of it.”
This home's definitely cracked my top three. It may be without furniture, but I can already imagine how I would set it up. Rochebobois would be my 1st stop 🤣
Stellar job, guys. Thank you for the tour. 🙏
Inhale. Exhale. Inhale. Exhale. 🤗
I seriously think I’ll join you on that thinking - gotta see past those few empty spaces now - but can you imagine it properly done up?! 🤩
@LuxuryHomesJohannesburg Absolutely. That's visionary thinking 💡. Right?
True that 🤓
😍 Lovely house, very well thought out and laid out. The finishes are amazing. I love the colors from floors to walls, cupboards and stone textures. Just didn’t like the many platforms/elevation changes when transitioning from different areas of the house downstairs and then the Waterfall 99 year lease will always be a no.
Stunning one indeed! 🤩
I hear you, N0nd0. Did you know that there’s no transfer duty payable on property sales? Just the 3-4% ownership renewal fee… on R10-15-20mil, it sure starts to add up!
Plus, if it were anything dodgy, do you think the banks would be providing financial assistance to buyers?
FYI
Here’s are the details for your perusal:
The Long Term Lease - Waterfall Country and Village Estate (info from the Waterfall Management Company and website)
Applicable in the Waterfall Country Estate & Village.
General
The company called the Waterfall Country Estate WMC (Proprietary) Limited owns the land on which the Waterfall Country Lifestyle Estate & Village reside. For residents on the new estates, the ownership structure is based on a long term lease rather than full title, sectional title or fractional title etc. Purchasers are thus buying limited right to the land and have the right to occupy the stand as per the lease agreement for the period prescribed in the agreement (ie. 99 years) and in perpetuity to extend the lease term.
Although not a common form of asset ownership in South Africa until now, the long term lease is a viable and proven form of residential property ownership used throughout the world.
Nature and effect
The lease agreement is signed for a specified amount (ie. lease consideration) which is a once off payment from the lessee to the lessor for the right to occupy the land as per the agreement for a term of 99 years from the date of registration with the option to renew or extend the lease.
The lease is registered (in the office of the Registrar of Deeds in Pretoria) in the form of a notarial deed against the title of ownership by the lessor (the person letting the property) in favour of the lessee (the person to whom the property is let). This awards a great deal of protection for the lessee because he/she is ensured of a legal entitlement to enforce his undisturbed right of use and enjoyment over the property within the rules and regulations set by the home owners association.
Should the lease consideration payable to the lessor be financed, it can be done through a financial institution of the lessee’s choice. To ensure the rights of the bank (as they are initially funding your purchase), as well as it’s clients, are protected, Waterfall consulted with the bank panel of South Africa and negotiated various conditions contained in the agreement.
Any permanent improvements to the land form part of the land and thus the lease agreement.
What happens when you want to sell the property?
Like any asset, it can be exchanged for compensation. In this case, like any form of property, it’s dictated by market value or what someone is prepared to pay for it on any given day. Whether with the assistance of an agent or privately done, once a price is negotiated (including the renewal fee of 3.5%) and paid to the seller, the purchaser (new lessee) takes registration of a new 99 year lease. On that transfer, the 3.5% plus VAT, plus 1%, is paid to the Lessor, being the Waterfall Country Estate WMC (Proprietary) Limited. The benefit of this arrangement is that transfer duty (between 5% & 8% as of 2010) is not applicable to the deal and thus allows a more favourable purchase price to be negotiated by both parties.
The extension of the lease period and the cession of the lease rights are registered simultaneously in the deeds office. Like the transfer of a freehold property, the seller is required to settle all outstanding, levies, rates, taxes and municipal charges relating to the leased property
A benefit of this arrangement is that transfer duties are not applicable to the deal and thus allows a more favourable purchase price to be negotiated by both parties. Furthermore, generally the transaction time from signature of the sale agreement to registration in the deeds office is much quicker than in the case of a freehold or sectional title property.
Hypothetical Scenarios
*Should the lessee sell the leasehold rights earlier than 3 years after the first registration of the lease agreement, the purchaser of the leasehold rights will not pay the renewal fee and will retain the balance of years remaining on the agreement? Example: I sell my property 2 years after the first registration; the buyer will not have to pay the 3.5% renewal fee and will be entitled to the remaining 97 years on the lease.
*Should the lessee leasehold rights after that initial 3 year period, the purchaser will take ownership of a 99 year lease. Example: I sell my property after 10 years, I will negotiate the selling price with the buyer to include the 3.5% renewal fee. The buyer will take ownership of the leasehold rights for a 99 year period.
*Should the leasehold rights be disposed of pursuant to a testamentary bequest ie. A will, the heir will take ownership of the leasehold rights without having to pay the renewal fee and will retain the balance of years remaining on the agreement. Example: I pass away after 30 years and the property is passed down to my son as per my will. He will not have to pay the 3.5% renewal fee and will be entitled to the remaining 69 years on the lease.
*The leasehold rights can be sold at any stage in the 99 year period but if the 99 year period comes to an end, the entity owning the leasehold rights will have to renew the lease by paying 3.5% of the fair value of the property and will be entitled to a lease for another 99 years. Example: I buy the leasehold rights in my family trust, after the property has been handed down through, let’s say 3 generations, my great grandson owns the leasehold rights in 99 years time. He will have to renew the lease agreement with the lessor by paying 3.5% of the fair value of the property at the time and again extend the lease to another 99 years.
*No renewal fee is payable if the leasehold rights are transferred to a spouse in terms of an order of court in divorce proceedings. Example: I purchase the leasehold rights and live comfortably with my wife in the property for 10 years. We divorce and the court rules that the leasehold rights are to be transferred to my wife. The leasehold rights are transferred to her name without the 3.5% renewal fee being payable, she will be entitled to the remaining 89 years on the lease.
WATERFALL RESALE INFO
INFO ON NEW BUILD
Commencement is the date you are issued with the construction commencement certificate, which is given once you have complied with all site establishment requirements in terms of the contractors agreement. From the date of this certificate, the owner then has 24 months to complete the construction. Completion will be deemed once he provides the COJ occupation certificate as well as the HOA aesthetics completion certificate. The completion certificate will be issued provided the house has been built in accordance with the approved plans that was stamped by HOA and COJ. If there are deviations, the certificate will not be issued. If the certificate is not in possession by the end of the 24 month construction period, then penalties will apply from 25th month until completed i.e. certificates are produced.
TO REGISTER A NEW BUILDING IN WATERFALL
The owner who has completed the building needs the following documents:
NHBRC unit enrolment certificate
NHBRC builders registration certificate
Occupational certificate
Engineering certificate
Roofing certificate
Glazing certificate
Gas compliance certificate
Electrical compliance certificate
Plumbing certificate
ON RE-SALE COSTS FOR SELLER
Legal costs - approximately R12-15’000
Cancellation bond costs - none if the seller cancels existing bond 3 months in advance
Due to Waterfall Management company:
3% plus VAT - amount due to you Extension Consideration (3.0% plus VAT on selling price) payable to the Landowner in terms of the Standard Lease Conditions
0.5% no VAT - By amount due to you 0.5% Extension Consideration payable by Lessee to the Waterfall Fund Trust in terms of the Standard Lease Conditions
Agent’s commission - 5% plus VAT, of which the agent pays 1% plus VAT to Waterfall Management Company as accreditation fee
Extension fee - legal, R4’500 plus VAT
Deeds office registration fee, R305
Rates recon fee, R400 plus VAT
Rates and taxes, paid up
Levies, paid up
Electrical and gas compliance certificates for own account - approximately R1’500 each, unless repairs or work is needed
Before the sale goes through - the Seller must obtain COJ statement and Eskom accounts and provide to the transferring attorneys
COSTS FOR PURCHASER
Legal costs based on tariff, approximately 0.1% of selling price
Bond costs - if getting a bond
Once the transfer is done, the purchaser is loaded on Trafalgar and SiMs
Trafalgar will send the Purchaser a ‘welcome pack’
The Purchaser must register and get access onto COJ
@@LuxuryHomesJohannesburg I hear you Xavier, thanks for the detailed info. We all have different preferences to investment and ownership models for me, I need a full title on fixed assets especially in residential property but that’s just me and that is one of the reasons I will never consider Waterfall. I have friends in the Estate (country and equestrian) and this appealed to them most the no transfer fee pitch worked for them, also that they will not be around in 99 year. I am just not that selfish.
@nd0nd042 Valid point - each to their own. Also, having a 99-yr lease just means there would be an ownership fee charged to roll it then for another 99-years? Not sure - sorry!🤔
FYI - Someone must have read your msg and DM’d me to say that in the former homelands (ie KZN, Transkei etc), people can build their homes on land from the local Chief on a 99-year agreement?
I can’t confirm this as I wasn’t aware of that practice either, but I’ll dig deeper to find out details there as well.
Guys your House's are beautiful but the number of bedrooms must increase
Stunning indeed ❤which Gate is it located in waterfall.
Thanks
I believe Gate 2
Pls double check with the agent
Marussia @ +27 (83) 384-0618
A very well appointed home with potential for customisation and further build if so desired. It would be great to revert to the style of showing off the total front of the house as well. Super home nevertheless!!
Stunning one indeed, Peter!
Thought I showed the front in the video trailers, no?🤔
A full frontal is always great just in case one has to consider possibilities of extra garages or other special requirements that need extensions.
By the way your Hamilton on lady totally does not do the front, which is sad because she is an excellent presenter of high end property
@petermasemola1618 I hear you. I always try to cover that part as well.
The house doesn’t always lend itself to doing that, Peter.
That R9.95mil we did last week was in a cluster and all you had was the garage. Honestly nothing exciting until you walked to that double volume entrance. We thought that was the best starting position…
I’m sure the upcoming ones with Jen will have the front included. I’ll definitely try to 😎
I wonder how the drainage is managed on that piano grass area by the bommer.
Great question - I'll check with agent and revert!
You should do night shots
To show how the house lights up at night
Thanks for the suggestion. Believe me, we do try, but it’s not always possible (ie conflicting schedules between agent, seller, myself etc) to get it sorted out.
Just check the previous one we did a few weeks back at dusk th-cam.com/video/1pve6RobdTE/w-d-xo.htmlsi=vCmm5KPpcNpLP0ct
Enes Yilmazer worthy home❤
True that, Precious. Pls tell him we’re waiting for him🤓
This is the house in my dream😢
And in mine 🤣
To build this house from Scratch how much will it cost me......I love it
Thanks for stopping by.
Pls contact:
★ Architecture firm: SG Studio Architects
★ Website: www.sgstudio.co.za
★ Enquiries: +27 (12) 004 1467
★ Email: hello@sgstudio.co.za
Should have furnished it
I hear you, Hunadi.
Afraid that’s out of our control - wish that downstairs had some couches indoor/outdoor, TV lounge setup and dining. And THEN, it woulda looked smoking’ 🤩
How much do you think water and electricity bill will cost? Except the Levies?
Thx for stopping by, Kgothatso.
Tough one to answer, to be honest - will there be a 3-person household living there who barely shower? 6 girls who need showers/baths every day? Parties all the day?
I recon easily R3-4K per month?
Check with the agent Marussia @ +27 (83) 384-0618 for more info.
beautiful house except for the statue outside
Glad to hear you liked the house! That statue is a small adjustment to be made 😎
I love the statue. Beautiful art
Not to be ignorant or anything, but this house has been on the market for some time. Is there any reason why?
Fair question, Nhlakanipho.
Perhaps the owner isn’t too happy with the results some/all of the other agents have done up to now?
And now via this video tour, it’s finally getting the massive exposure it deserves? 🤔
Give me 5 years i will come back❤️🤌🏽
Deal!
I'd like to ask...why do is that these houses always have a exposed entrance, like its fully Glass... Are there like blinds to cover the entrance at night?
Thanks for stopping by.
Great question, Junior!
Oftentimes they do have blinds - or have parts sandblasted to give extra privacy 🤗
Ohh i see, thank you
@Junior13ZA-gl9ck You bet 🤗
Gorgeous house... but after what I hear about the land lease agreements in waterfall estate... buying or building a house there means you do not own 100% of your property. a good strategy for the land owners but its sickening to be honest.
Stunning property indeed!!
I hear you. It’s somewhat unorthodox.
Few things to consider: you don’t pay the 8-10% transfer fee. Instead it’s a once-off ownership renewal fee of 3-5%. So, on R10-20mil, you wanna do the numbers how much difference?
Also, if it were ANYTHING dodgy, do you think any SA bank would be willing to give out home loans here, only to lose it all?
FYI
Here’s are the details for your perusal:
The Long Term Lease - Waterfall Country and Village Estate (info from the Waterfall Management Company and website)
Applicable in the Waterfall Country Estate & Village.
General
The company called the Waterfall Country Estate WMC (Proprietary) Limited owns the land on which the Waterfall Country Lifestyle Estate & Village reside. For residents on the new estates, the ownership structure is based on a long term lease rather than full title, sectional title or fractional title etc. Purchasers are thus buying limited right to the land and have the right to occupy the stand as per the lease agreement for the period prescribed in the agreement (ie. 99 years) and in perpetuity to extend the lease term.
Although not a common form of asset ownership in South Africa until now, the long term lease is a viable and proven form of residential property ownership used throughout the world.
Nature and effect
The lease agreement is signed for a specified amount (ie. lease consideration) which is a once off payment from the lessee to the lessor for the right to occupy the land as per the agreement for a term of 99 years from the date of registration with the option to renew or extend the lease.
The lease is registered (in the office of the Registrar of Deeds in Pretoria) in the form of a notarial deed against the title of ownership by the lessor (the person letting the property) in favour of the lessee (the person to whom the property is let). This awards a great deal of protection for the lessee because he/she is ensured of a legal entitlement to enforce his undisturbed right of use and enjoyment over the property within the rules and regulations set by the home owners association.
Should the lease consideration payable to the lessor be financed, it can be done through a financial institution of the lessee’s choice. To ensure the rights of the bank (as they are initially funding your purchase), as well as it’s clients, are protected, Waterfall consulted with the bank panel of South Africa and negotiated various conditions contained in the agreement.
Any permanent improvements to the land form part of the land and thus the lease agreement.
What happens when you want to sell the property?
Like any asset, it can be exchanged for compensation. In this case, like any form of property, it’s dictated by market value or what someone is prepared to pay for it on any given day. Whether with the assistance of an agent or privately done, once a price is negotiated (including the renewal fee of 3.5%) and paid to the seller, the purchaser (new lessee) takes registration of a new 99 year lease. On that transfer, the 3.5% plus VAT, plus 1%, is paid to the Lessor, being the Waterfall Country Estate WMC (Proprietary) Limited. The benefit of this arrangement is that transfer duty (between 5% & 8% as of 2010) is not applicable to the deal and thus allows a more favourable purchase price to be negotiated by both parties.
The extension of the lease period and the cession of the lease rights are registered simultaneously in the deeds office. Like the transfer of a freehold property, the seller is required to settle all outstanding, levies, rates, taxes and municipal charges relating to the leased property
A benefit of this arrangement is that transfer duties are not applicable to the deal and thus allows a more favourable purchase price to be negotiated by both parties. Furthermore, generally the transaction time from signature of the sale agreement to registration in the deeds office is much quicker than in the case of a freehold or sectional title property.
Hypothetical Scenarios
*Should the lessee sell the leasehold rights earlier than 3 years after the first registration of the lease agreement, the purchaser of the leasehold rights will not pay the renewal fee and will retain the balance of years remaining on the agreement? Example: I sell my property 2 years after the first registration; the buyer will not have to pay the 3.5% renewal fee and will be entitled to the remaining 97 years on the lease.
*Should the lessee leasehold rights after that initial 3 year period, the purchaser will take ownership of a 99 year lease. Example: I sell my property after 10 years, I will negotiate the selling price with the buyer to include the 3.5% renewal fee. The buyer will take ownership of the leasehold rights for a 99 year period.
*Should the leasehold rights be disposed of pursuant to a testamentary bequest ie. A will, the heir will take ownership of the leasehold rights without having to pay the renewal fee and will retain the balance of years remaining on the agreement. Example: I pass away after 30 years and the property is passed down to my son as per my will. He will not have to pay the 3.5% renewal fee and will be entitled to the remaining 69 years on the lease.
*The leasehold rights can be sold at any stage in the 99 year period but if the 99 year period comes to an end, the entity owning the leasehold rights will have to renew the lease by paying 3.5% of the fair value of the property and will be entitled to a lease for another 99 years. Example: I buy the leasehold rights in my family trust, after the property has been handed down through, let’s say 3 generations, my great grandson owns the leasehold rights in 99 years time. He will have to renew the lease agreement with the lessor by paying 3.5% of the fair value of the property at the time and again extend the lease to another 99 years.
*No renewal fee is payable if the leasehold rights are transferred to a spouse in terms of an order of court in divorce proceedings. Example: I purchase the leasehold rights and live comfortably with my wife in the property for 10 years. We divorce and the court rules that the leasehold rights are to be transferred to my wife. The leasehold rights are transferred to her name without the 3.5% renewal fee being payable, she will be entitled to the remaining 89 years on the lease.
WATERFALL RESALE INFO
INFO ON NEW BUILD
Commencement is the date you are issued with the construction commencement certificate, which is given once you have complied with all site establishment requirements in terms of the contractors agreement. From the date of this certificate, the owner then has 24 months to complete the construction. Completion will be deemed once he provides the COJ occupation certificate as well as the HOA aesthetics completion certificate. The completion certificate will be issued provided the house has been built in accordance with the approved plans that was stamped by HOA and COJ. If there are deviations, the certificate will not be issued. If the certificate is not in possession by the end of the 24 month construction period, then penalties will apply from 25th month until completed i.e. certificates are produced.
TO REGISTER A NEW BUILDING IN WATERFALL
The owner who has completed the building needs the following documents:
NHBRC unit enrolment certificate
NHBRC builders registration certificate
Occupational certificate
Engineering certificate
Roofing certificate
Glazing certificate
Gas compliance certificate
Electrical compliance certificate
Plumbing certificate
ON RE-SALE COSTS FOR SELLER
Legal costs - approximately R12-15’000
Cancellation bond costs - none if the seller cancels existing bond 3 months in advance
Due to Waterfall Management company:
3% plus VAT - amount due to you Extension Consideration (3.0% plus VAT on selling price) payable to the Landowner in terms of the Standard Lease Conditions
0.5% no VAT - By amount due to you 0.5% Extension Consideration payable by Lessee to the Waterfall Fund Trust in terms of the Standard Lease Conditions
Agent’s commission - 5% plus VAT, of which the agent pays 1% plus VAT to Waterfall Management Company as accreditation fee
Extension fee - legal, R4’500 plus VAT
Deeds office registration fee, R305
Rates recon fee, R400 plus VAT
Rates and taxes, paid up
Levies, paid up
Electrical and gas compliance certificates for own account - approximately R1’500 each, unless repairs or work is needed
Before the sale goes through - the Seller must obtain COJ statement and Eskom accounts and provide to the transferring attorneys
COSTS FOR PURCHASER
Legal costs based on tariff, approximately 0.1% of selling price
Bond costs - if getting a bond
Once the transfer is done, the purchaser is loaded on Trafalgar and SiMs
Trafalgar will send the Purchaser a ‘welcome pack’
The Purchaser must register and get access onto COJ
Looking for a home is so frustring. Developers should learn from American homes such as Texas, where houses tend to sell in record time due to their well-designed layouts and practical features that appeal to homebuyers.
20 bar… no privacy… beautiful nonetheless but… eish. I’m too private for that
Thx for stopping by, Mpho.
Buying in Waterfall Country Estate will always mean your land will very likely be around 1,000 sqm, hence be surrounded by neighbors!
And if not, you're going to pay even more (ie remember that SBE video tour we did a few weeks ago)...
What a beautiful home … Take my money now 😍
YAY - mission accomplished!