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..
3. Rich Neighbors do not make you rich
Borrowdale Brooke is arguably one of the most affluent surbubs in Zimbabwe. It is a gated community located in Northen side of Harare. A stand in Borrowdale Brooke will cost you about $100,000 but right next door is Crowhill.
Stands in Crowhill cost on average $15,000 for 1000sqm. This has been the case for the last decade and the area does not seem to be appreciating in value.
Crowhill has got potential to be as beautiful as Borrowdale Brooke but devleopers seem hesitant to take on the task. This may be due to the steep terrain, the hills like the name implies make servicing the area super expensive. Most people will not acquire a stand in Crowhill simply because of the state of the non existant roads. One would need a 4 by 4 vehicle to get by. A simple car like a Toyota corrola cannot stand the roads in Crowhill.
Some say that if you want to reside in Crowhill make sure you are planning on building your retirement home and do not plan to leave/ travel often as this can become a logistical nightmare.
Depending on how you decide to view it Crowhill can be good investment in the sense that land is fairly cheap to aquire. In fact it is one of the cheapest neighborhoods to acquire land in Harare, certainly much cheaper than Madokero where a 400sqm stand goes for $45,0000. Crowhill can also be a bad investment in the sense that servicing is non existent and by the looks of things there is no sign of servicing commencing. One might argue that it is a good investment to buy a stand in Crowhill because at some point in time the area will be serviced. Well that is not always the case as seen with Charlotte Brooke and Sally Mugabe Heights which have not been serviced since the year 2005. Being neighbors with other good neighborhoods does not seem to have a constant positive correlation in the Zimbabwean market.
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