Cheap Stands, Whats the catch ?
There are lots of factors to consider when buying that piece of land to build your home. A big factor for most people is the price. Although cheap is good, a buyer should ask themselves why that piece of land is so cheap especially if land in the same area or of size is slightly pricier. This article will try and tackle the reasons why land might be cheap and what really is the cost of it..
1. Serviced or Non Serviced
A serviced stand is one whereby the developer has done everything required of them by the local authority. These requirements are outlined in a document called the “Development Permit”. It will outline the type and size of the roads, the storm drains, the water lines, the sewage lines (if any), and any other service. Once the developer has fulfilled all of these requirements and passes inspection, they will be issued a “Compliance Certificate”
In Harare, there are a number of projects that have been in existence for 20 years or more, and still, they do not have their “Compliance Certificate”. These buyers have bought the stands from the developer, and have proceeded to construct their homes, but have no Title Deeds
They also may find that there is no council water, no tarred roads, nor the other services that they were promised. These properties become hard to sell, and the value of the property is greatly diminished. So, before you purchase that un serviced stand for a cheap price, it is best to get a clear road map with time frames on when the developer is going to initiate servicing.
Case Study Charrlotte Brooke Harare
Alex M was presented with a once in a lifetime opportunity to own a home in Charlotte Brooke Harare. The developers showed him concepts on what the place will look like in the future. With tarred roads, rivers, a golf course like that of Borrowdale Brooke. Not wanting to be left out Alex decided to purchase this stand and build his dream home on it. Fast forward decades later the area has got no roads, no electricity, Alex does not own title deeds for his home. His home is being valued at the same price as a house in serviced Madokero sitting on 400sqm yet his stand is 1000sqm and he has built up a two-story mansion on the land.
In 2010 the area was incorporated into Harare as the city’s boundaries were extended. Since 2005 when residents were allowed to start constructing houses, the area has had no tarred roads or water. The main road from Crowhill in Borrowdale is a dusty gravel road which is unusable during the rainy season. Think roads aren't a big deal? Have you ever gotten your car stuck in the middle of the road at night as it pours down raining?
Take away from this story. Do not allow developers to sell you plastic dreams. Ask yourself this, has the developer done anything at all towards the vision they have sold to you, what is their track record? Does the deal seem too good to be true because if it is, it probably is.
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