Navigating the real estate landscape
Selma Mulunga offers valuable insight
The founder of Shanin Haus Properties shares her knowledge on the intricacies of property inspections, purchase costs and what to look for during a viewing.
In an exclusive interview with the founder of Shanin Haus Properties, Selma Mulunga, we delved into the world of real estate and uncovered valuable insight into the intricacies of property inspections, purchase costs and what to look for during a viewing.
With a background in computer systems and civil engineering, Mulunga has found her passion in the dynamic realm of real estate.
Property inspections and compliance
When it comes to property inspections, Mulunga explained that homeowners looking to sell their properties must obtain a compliance certificate, ensuring that their property aligns with the regulations set by the City of Windhoek or their respective municipality or local authority.
Inspectors meticulously scrutinise whether the structure on the ground corresponds to the approved building plans. Mulunga added: "You will need a firewall if your house is near a boundary wall; you will need a pool cover if you have a swimming pool, things like that. These are things that you just can't get around and have to be compliant with".
Understanding costs in property transactions
She shed light on the often-confusing terms 'including costs' and 'excluding costs' in property transactions. Using a simple example, she clarified that if a property is advertised as 'including costs', the additional expenses are wrapped into the stated price.
In contrast, 'excluding costs' means the buyer must bear the additional transfer costs separately. These costs can vary depending on the property's evaluation, and when buying through a bank, additional transfer costs may be necessary. Transfer costs encompass legal fees for facilitating the transfer, while bond costs pertain to the expenses associated with transferring the property to the new buyer's name.
Viewing a property: What to look for
During a property viewing, Mulunga emphasised the importance of assessing the property's upkeep. Potential buyers often scrutinise maintenance issues, including cracks in the walls, plumbing problems, damaged tiles, and the condition of windows. She suggested ensuring that the geyser is operational and all essential home systems are in good working order, as these factors can significantly impact negotiations and the final selling price.
Reflecting on her journey, she said she founded Shanin Haus Properties in 2020, simultaneously balancing her real estate endeavours with academics. In the first year, she primarily focused on rentals but transitioned into real estate full-time in the subsequent year.
For those interested in Mulunga's expertise and working with Shanin Haus Properties, contact via 081 595 0943, or connect through Facebook and Instagram. Additionally, more information can be found on shaninhausrealestate.com.
With a background in computer systems and civil engineering, Mulunga has found her passion in the dynamic realm of real estate.
Property inspections and compliance
When it comes to property inspections, Mulunga explained that homeowners looking to sell their properties must obtain a compliance certificate, ensuring that their property aligns with the regulations set by the City of Windhoek or their respective municipality or local authority.
Inspectors meticulously scrutinise whether the structure on the ground corresponds to the approved building plans. Mulunga added: "You will need a firewall if your house is near a boundary wall; you will need a pool cover if you have a swimming pool, things like that. These are things that you just can't get around and have to be compliant with".
Understanding costs in property transactions
She shed light on the often-confusing terms 'including costs' and 'excluding costs' in property transactions. Using a simple example, she clarified that if a property is advertised as 'including costs', the additional expenses are wrapped into the stated price.
In contrast, 'excluding costs' means the buyer must bear the additional transfer costs separately. These costs can vary depending on the property's evaluation, and when buying through a bank, additional transfer costs may be necessary. Transfer costs encompass legal fees for facilitating the transfer, while bond costs pertain to the expenses associated with transferring the property to the new buyer's name.
Viewing a property: What to look for
During a property viewing, Mulunga emphasised the importance of assessing the property's upkeep. Potential buyers often scrutinise maintenance issues, including cracks in the walls, plumbing problems, damaged tiles, and the condition of windows. She suggested ensuring that the geyser is operational and all essential home systems are in good working order, as these factors can significantly impact negotiations and the final selling price.
Reflecting on her journey, she said she founded Shanin Haus Properties in 2020, simultaneously balancing her real estate endeavours with academics. In the first year, she primarily focused on rentals but transitioned into real estate full-time in the subsequent year.
For those interested in Mulunga's expertise and working with Shanin Haus Properties, contact via 081 595 0943, or connect through Facebook and Instagram. Additionally, more information can be found on shaninhausrealestate.com.
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