September 22, 2024
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Property

Property (148)

How a property is transferred in Namibia
Property

How a property is transferred in Namibia

September 02, 2022
0

Buying a property is not as simple as signing an agreement, paying the purchase price, and getting your keys. It involves a lengthy process that can take between 4-6 weeks.

How to factor in the rising repo rate when buying or selling property
Property

How to factor in the rising repo rate when buying or selling property

August 19, 2022
0

The Monetary Policy Committee (MPC) of the Bank of Namibia has decided to increase the Repo rate once again by a whopping 75 basis points to 5.50% from 4.75% in the meeting held on 17 August 2022.

Windhoek approves N$500m building plans in July
Property

Windhoek approves N$500m building plans in July

August 15, 2022
0

The City of Windhoek approved 314 building plans valued at nearly N$500 million in July 2022, compared to 249 plans worth N$400 million in the prior month.

What is a House and Land Package?
Property

What is a House and Land Package?

August 12, 2022
0

When it comes to purchasing a property, many types and forms of real estate are available.

How to pick the right floor plan for your home
Property

How to pick the right floor plan for your home

August 05, 2022
0

Whether you are a developer or soon to be homeowner, a well-designed floor plan is a good point of departure when embarking on the home building journey.

Choose the right agent, deal with a registered agent
Property

Choose the right agent, deal with a registered agent

August 05, 2022
0

It is important that sellers guard against being swayed by the charm and the promise of selling for maximum profits and ensure they do not overlook the importance of ticking all the boxes before awarding a mandate for the sale of their property.

You must make sure that the agent is properly qualified and has a valid Fidelity Fund Certificate (FFC).

This is important because a registered agent with a valid Fidelity Fund Certificate offers protection, not only for the sellers but also for buyers as well as for the agent.

The importance of a valid Fidelity Fund Certificate (FFC)

 Under the Estate Agents Act, no person may practice as an estate agent unless he or she is in possession of a fidelity fund certificate. The power to issue and withdraw this certificate vests in the Namibia Estate Agent Board (NEAB).

Fidelity Fund Certificates are valid for 12 months and must be renewed by 31 October annually. Sellers are entitled, and it is recommended, to ask to see the FFC of an agent to check its validity on the document itself as well as with the NEAB, where you can search whether someone purporting to be an agent is in fact registered as such.

By dealing with an agent with a valid fidelity fund certificate, you are not just confirming that the agent is legitimate and appropriately skilled, but the transaction would be covered by the Estate Agents Fidelity Fund (administered by the NEAB) should the need ever arise to lodge a claim with the fund.

The purpose of the fund is to reimburse a member of the public who, under certain circumstances, has suffered a financial loss as a result of his dealings with an estate agent.

There is no limit to the amount a claimant may recover from the fidelity fund, but certain requirements must be complied with before a person is entitled to enforce a claim against the board for compensation from the fund.

The dangers of dealing with an agent who is not registered with the NEAB are enormous. It is an easy exercise to check whether an agent is registered or not - simply ask to see a current copy of the agent’s Fidelity Fund Certificate.

 If the person with whom you are considering working with does not have this, move on and find someone who has the right credentials.

For enquiries Text,Call or email #yourhomegirl Justina Hamupembe

Cell: +264812726001

Email. This email address is being protected from spambots. You need JavaScript enabled to view it. 

Website: www.chili.com.na 

 

Signs you’re not ready to buy a house
Property

Signs you’re not ready to buy a house

July 29, 2022
0

If your dream of owning a home is on your bucket list, you’ve likely searched for property, narrowed your home preferences, and even attended a few open houses. But while you might be mentally ready to buy a home, your financial situation might tell a different story.

Who determines the property price of your home?
Property

Who determines the property price of your home?

July 22, 2022
0

One of the most important elements of selling your property is getting the listing price right. 

CoW approves 227 building plans worth N$398.2 million
Property

CoW approves 227 building plans worth N$398.2 million

July 21, 2022
0

The City of Windhoek approved a total of 227 building plans valued at N$398.2 million in June, representing a 55.5% m/m increase from the 146 building plans worth N$118.1 million approved in May.

What makes a good property investment?
Property

What makes a good property investment?

July 15, 2022
0

Investing in property is easier than you think with the right plan and financing. If you're starting your property investment journey and don't know where to begin, here are three factors to look at in terms of a residential property:

1) Ascertain your rental yield 


Rental yield is the amount of money you make on an investment property by measuring the gap between your overall costs and the income you receive from renting your property. Understanding how property yield works gives you a better idea of the ongoing return you will earn on your investment. It can also be helpful when it comes time to review the rent on an investment property. When you know the rental yield of a property, you’re also better placed to understand if it is the right place for your investment goals, or if you could earn a higher rental yield with a different property or by investing in another suburb or town.

2)Location

Identical homes can increase or decrease in value due to location. Location affects not only the price but also the home's desirability. Where a home is located is a key factor affecting its value — both now and in the future. Buyers are often more interested in the house or the floor plan, but from an investment standpoint, finding the best location should be a top priority.

Therefore, I strongly recommend one invests one's hard-earned money only in the property with the best location. Look for properties near the city centre as that’s where most young professionals want to live or nearby amenities such as schools, malls etc. Because it will always be Location, Location and Location.

3)Buying structures (Full title or Sectional title) 


Sectional titles (apartments, townhouses etc.) are less expensive than full titles (free-standing homes). However, it all depends on the location and specs of the property. Some tenants prefer a sectional title for security, especially if the property remains unoccupied for a prolonged period. And others prefer free-standing properties for more privacy. Also, consider additional costs such as corporate fees when investing in a sectional title. 

The above three, in my opinion, are the top factors to consider when purchasing an investment property. Ascertaining the rental yield, location and type of property will ensure that you invest in a good property with a good ROI.

For enquiries Text, Call or email #yourhomegirl Justina Hamupembe

Cell: +264812726001

Email. This email address is being protected from spambots. You need JavaScript enabled to view it. 

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