One of the hardest aspects of buying or renting property, is finding a place that ticks every box of your dream home while also fitting into your budget. Fortunately, for many looking to settle down in north western areas of Johannesburg, renting or buying property in Randburg has changed since the recession.
“Randburg is down-right affordable. Amenities are fabulous and service delivery is good: we have street lights that actually work,” says Randburg estate agent Kim Miller, who has sold and rented out homes Bordeaux, Randpark Ridge and Northwold.
There is increased confidence in the recovery of the Randburg housing market after 2009. “Sales took a major knock but thank goodness for the rental market that kept us afloat,” says Kim. Due to stricter lending policies by banks, potential home buyers looking to get a foot in the door now turn to the rental market first. Bank are less willing to risk it so buyers pick up rental properties in areas they can afford, and while on the lease, they have the opportunity to save up for a deposit to buy a house. This also gives them a chance to build a good credit history and increase their purchasing power.
According to Kim, a two-bedroom, one-bathroom townhouse in a good development in Randburg goes for about R4200 a month. A cluster home – two-bedroom, two-bathroom – will cost you around R5500 per month.
On the sales front, Kim says there are gorgeous, older homes in Bordeaux that sells for just over R1m. “Even though some of the places in Bordeaux need a little renovation, people love this particular part of Randburg because the homes are big. Bedrooms are huge, and most places come with an outside room, which can be converted into a little cottage on the property.
Whether you’re looking to rent or buy, Randburg offers some of the most varied housing options in the country, which can bring new buyers and renters into the market. You can find a place to call home without having to make sacrifices on the amenities and facilities.
