Owning in Mutual Heights
Owning in Mutual Heights
"I want to buy a space in the building"
At the time of writing (early 2017) the value of property in the Cape Town CBD has been increasing steadily. There is considerable optimism about the future, and this trend is expected to continue
This is a very special, heritage building. Whereas the 'regular' apartments can be modifed and adapted inside, to suit the requirements of new owners (and there is always a project on, somewhere in the buidling) there are limitations in terms of external works, and certain features of the building. Let's talk about the possible downside to living in Mutual Heights:
- There is a history of damp ingress into the building, but having won our case against Old Mutual (who owned the whole building until about 2005, and acted as 'Developer' for the purposes of the conversion to residential living) we have been able to undertake all the necessary work, with funds invested to cover the cost of other future requirements. Browse the newsletters at your leisure to see the history.
- The air-conditioning system is weird. In order to shift much of the cost of air-conditioning to the purchasers, it was decided that there would be circulating water in pipes high in every apartment, and heat pumps would be needed in each. This makes for an expensive exercise, much more costly that your typical split system as seen in the vast majority of ordinary homes. In our building, it is not allowed to fix air-conditioning kit to the exterior wall, and so every case has to be assessed on its own merits.
These two things are the only difficulties that the conversion of the building (to residential use) presents. On the other hand ...
- The quality of life in the building is absolutely first class. We have an excellent management agency, 24 hour security, the maintenance of the building is carefully managed (and reported - check the situation out here, for a start).
- Living in the CBD has huge advantages. Virtually everything that you need is at hand and the MyCity buses routes 102 and 103 pass right by our front door.
- The cost of living in the building is well contained. When you first see the cost of the monthly levies, you may be surprised, but in repeated surveys we find that the levy charges in Mutual Heights are almost exactly on the average of 17 comparable buildings in the CBD.
- Finally, we communicate. We have newsletters when they are needed, we have this unique web site providing all the information that you could possibly desire (tell us if it does not!) and the annual general meetings have always run smoothly and completed in less than two hours. How many sectional title schemes have all that?
Enough for now. Do get in touch (email@example.com) if you wish.
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