Mogale City enjoys renovation trend

Older properties in Krugersdorp North in Mogale City are getting a new lease on life as buyers opt to renovate rather than choose a unit in one of the many proliferating new residential developments.

"Krugersdorp North, one of the first residential areas to have been proclaimed in the town, is experiencing a major revival," says Estelle Marais of the local Chas Everitt International office.

"In fact, it resembles Melville when that suburb became a trendy address. The old properties offer character and a charm that many newer developments lack. Buyers are attracted to the old-fashioned finishes such as original wooden strip flooring and the high pressed ceilings that still feature in many of the old homes," she says.

Another boon is that stands are generally large – around 1000sqm. Most homes offer three or four bedrooms and are generously proportioned. Marais says homes are generally very solid and offers great scope for renovation.

"These properties are especially in great demand among younger buyers. Price is a definite plus – prices range between R700 000 and R1, 2m and represent good value indeed. The young professionals buying here find that the selling price represents only a portion of the bonds they qualify for and then use the remaining amount to renovate these old beauties to make charming and comfortable family homes," Marais says.

The renovation trend, which started last year, is fast gathering pace and existing owners are also increasingly updating their properties to add value. "Demand for these properties is growing and owners who are renovating are making a good investment," she says.

For more information contact 011 668 4388.

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