The pros and cons of living in a gated residential estate
Category Estate Living
Estate living has risen substantially in recent years, with new estates sprouting up all over South Africa. Living within a gated community has become a popular choice for many homeowners due to the numerous benefits it offers. However, before investing in a home within a gated estate, it is essential to consider both the pros and cons.
Let's explore the pros of living in a gated residential estate:
- Components for safety and security
For the majority of South African property owners, safety and security are top priorities. The fact that estates have state-of-the-art security measures in place to keep off threats is one of the most alluring advantages they can provide to residents. Sought-after estates feature security elements like visitor check-ins, perimeter fences, access-controlled entrances, security officers, and patrols.
The body corporate of an estate might decide whether additional safety precautions are necessary. For instance, installing speed bumps to prevent reckless or excessive speeding on estate roads.
- Great rewards on your investment
Local and foreign investors are increasingly interested in purchasing properties in gated residential estates in South Africa. The estate's location in a wealthy neighbourhood and easy access to amenities have the potential to raise a property's value. The advanced security, exclusivity, and lifestyle factors are what buyers are looking for and are willing to pay a premium for, which enables a greater resale value.
- A sense of community
Homeowners who prefer living in gated communities do so because they appreciate particular qualities, such as a sense of community. Residents living in a gated estate are homeowners who are more aware of who their neighbours are and who is just a visitor, which encourages trust and familiarity. Additionally, social, recreational, and sporting events are held frequently in these communities for all to enjoy.
With all the good aspects encouraging buyers to flock to estate living, there are a few cons to owning a property within a gated community:
- Limitations and laws governing architecture and aesthetics
Residential estates frequently have a uniform appearance, so maintaining this appearance is crucial to maintaining the area's appeal and integrity. Homeowners in residential estates are subject to stringent restrictions on the improvements and structural alterations they are permitted to make to their homes.
- Taxes and levies
Levies and taxes are recurring monthly outlay that can quickly add up to a significant quantity of money when living in an estate. Several conveniences come at a cost, and levies for common water, rates, taxes, security, and community personnel are frequently more than the individual costs of living in a freestanding home without these luxuries.
- Property maintenance costs
Buyers should exercise caution in cases where maintenance costs are higher than the rates and taxes previously collected for the neighbourhood. For example, the municipality may consider the gated estate's roads to be private property, which means residents are responsible for maintenance and repairs, such as potholes. This varies depending on the estate.
Prospective buyers interested in investing in property within a gated estate should thoroughly research and examine the pros and cons of each estate that they are interested in, as the rules and rewards differ between estates. The suitability of a residential property estate for you is determined by a variety of variables, including your budget and tastes. Consult a Seeff Hillcrest & Kloof property practitioner now for assistance with finding the right gated community for you.
Author: Seeff Hillcrest & Kloof
