The first owners moved into their brand new homes on 15 June 2023.

You can now buy your brand new home with Rent To Own.

No houses are available on normal rent - you can apply if you are a serious buyer.

The final of the 22 new houses are close to completion. More are line up for construction.

You can secure your brand new home now and save thousands with your First Home Finance Subsidy - - if you qualify - (our sales team can assist you)
Unique offering for only residents of the Bredasdorp or the Cape Agulhas Municipal area.

HOW TO PAY LESS THAN THE MARKET VALUE

You can pay less than the market value, if you apply your FLISP subsidy and use it as a deposit.

That way you can apply for a smaller home loan and pay less for your brand new first home and less than the actual market value.

Deferred ownership concept - Rent To Own.

This house can also be purchased through a three year rent to own deferred ownership concept.

Through this concept, you can rent the house for 3 years and then 50 % of your rental is paid into an interest bearing savings account for you.

At the end of the rental period. the Deposit Builder saved is deducted from the purchase price, saving you up to 3 years of savings off the purchase price. [please note that the savings and subsidy may differ for each home buyer and this is a general guideline]

This means that the purchase price can be reduced by thousands of Rands through the deferred rent to own concept.
The show unit now available to view.

Secure your new first home at the new Mill Park Development in Bredasdorp, launched by the Cape Agulhas Municipality.

The purchase price for a 2 bedroomed house of 43 m2 is R544 700

The purchase price for a 3 bedroomed house of 55 m2 is R695 000

HERE IS HOW THE RENT TO OWN CONCEPT AS DEFERRED OWNERSHIP WORKS - IN A FEW EASY STEPS:

With the Rent To Own concept, you select the unit you want to own.

GET PREQUALIFIED:
You go through a pre-qualification process to ensure that you can pay the monthly rental and expenses such as rates and taxes and will most likely qualify for a home loan and a FLISP subsidy within 3 years of rental.

SIGN THE LEGAL DOCUMENTS
If you are approved, you will sign a lease agreement, with an option to buy as well as a purchase agreement.

RENTAL FOR 36 MONTHS

You will then rent for 36 months and pay rental every month, plus rates and taxes of R500.00 per month. You also pay a fee of R150.00 for My Budget Fitness Personal Trainer.

50 % SAVINGS

50 % of your rental paid will be saved in a special savings account as a "deposit builder".

At the end of the lease, the saved deposit saved will be deducted from the purchase price.

If you do not qualify for a home loan at the end of the 36 month term, the deposit saved will be paid over to the Municipality as normal rental.

2nd DEDUCTION

If you qualify for a FLISP subsidy, you will be able to deduct the FLISP subsidy from your purchase price as well.

The Mill Park development is a joint initiative between the Department of Human Settlements and the Cape Agulhas Municipality.

CONSTRUCTION
ASLA Construction is appointed for construction of the houses and 2 bedroomed and the 3 bedroomed houses are for sale and construction already started.

TRANSFER & BOND COSTS
All costs of transfer are included in the purchase price.

HOME LOAN & FLISP SUBSIDY APPLICATION
The sales team will assist all buyers with a home loan and a FLISP subsidy prequalification.

DEPOSIT
A deposit equal to your monthly rental is required and can be paid off in instalments. The first deposit of R500.00 is payable on signature of the Sale Agreement.

HOW TO QUALIFY FOR A FLISP SUBSIDY:
You must first qualify for a home loan, before you can qualify for a FLISP subsidy. Our sales team will assist you with the entire application.

APPPLY FOR A HOME LOAN
At the end of the 36 month Rent to Buy term, you will need a good credit score and income to support the home loan repayment to qualify for a home loan.

Once you have received your FLISP Provisional Voucher, you can do an online check to find out the home loan amount you may qualify for.

You can also check if you can qualify for a FLISP subsidy before you apply for a home loan and even receive your FLISP Provisional Voucher.

Get in touch today with the sales team to assist you to check the RENT TO BUY approval and Flisp subsidy you can qualify for.

FINISHES
Each house will be completed with the following finishes: -

KITCHEN
• White melamine cupboards as per kitchen plans.
• 600mm x 30mm post formed countertops, as per kitchen details.
• Steel 1.2m double bowl sink unit.
• Sink mixer tap.
• 400mm high (2 rows of 200mm tiles) above zink area.
• Washing machine point to be provided.

BATHROOM
• One Chromium plated toilet roll holder with wooden barrel.
• One single Chromium plated towel rail, 600mm long.
• 600x400mm mirror to be fitted above basin.
• Bathroom: 2 rows (400mm high in total) above wash hand basin.
• WHB will be full pedestal type as per developer.
• Tap to basin to be swivel-type mixer.
• Shower: - 2 main walls tiled to ceiling.
Bath installed
- Third wall to be built 1800mm high and tiled to inside and front of wall.
- Tap to be swivel-type mixer.
• Shower floor tiled with 1x shower rail excluding sheet.
• Toilet to be as per developer.

(Contact the sales agent for a complete schedule of finishes)

The new Mill Park Development in Bredasdorp, Cape Agulhas Municipality, offers a unique opportunity for first-time buyers to realise their dream of owning their own home.

This affordable housing opportunity is coupled with a one-stop service that walks brand new buyers through every step of the buying process with end-user finance already pre-arranged with the major financial institutions.

Of newsworthiness is that this ownership-support service includes an unprecedented, combined offering of a South African Government FLISP financial subsidy, and a deferred ownership module with a Rent to Own arrangement for buyers who are almost ready to for home ownership, but just not ready yet to qualify for a home loan, but may qualify soon.

Buyer support is provided for each step of this novel journey to from first engagement up to key handover, continuing for a period of 36 months thereafter, with this pioneering offering geared to open doors to those previously denied access to the property market.

Contact the property agents now! Read more...