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2 Bed Apartment in Die Bult

R 630 000

2 Beds

1 Baths

Can I afford this?

Floor Area 57 m² Land Area 5720 m² Rates R 310 Levy R 1233

Caruso is a popular and well-known apartment complex in Bult West, Potchefstroom.

The unit is spacious and offers two bedrooms with built-in cupboards, as well as built-in desks. The apartment also has an open-plan kitchen and living area. The unit has completely been renovated offering larger built-in cupboards as well as granite kitchen tops. This particular corner unit is situated on the first floor and thus has a bit more privacy than the ground-story units.

The property is extremely neat and safe with secure parking. This is also one of few apartments in the complex which has 2x parking spaces reserved for it. The complex has a communal pool and braai area with an access-controlled entrance and a laundry.

The unit is also rented out for R6000, which makes it a great buy for an investor too!

The complex is located close to the North-West University, Potchefstroom Military Base, and Industrial area. It is also within walking distance to several amenities which include a grocery store and several restaurants.

Rental Income: R6000.00

Expenses:

Levy: R1233

Municipal Account: R310.00

Return on Investment: 8.49%

Please Note: The 2021 Budget Speech included an amendment to the transfer duty calculation applicable to property transactions, increasing the threshold under which no transfer duty is payable from R900 000 to R1 million. This means that if you buy a property that costs R1 million, you will not have to pay any transfer duty.

Transfer duty is only payable on properties worth more than R1 000 000. If the property is less than that, you will still need to pay the conveyancing attorney for the transfer of property, but there will be no transfer duty tax.

Conveyancing Fees are estimated at an amount of approximately R22 000. If you require a bond to pay for the property, the bank will appoint a bond attorney and the estimated cost is approximately R27 000. If you need assistance with regards to finding out if you qualify to purchase this property and need help with evaluating your affordability, we will gladly assist to make this investment work for you.

Do not hesitate to contact me for a viewing.