Spotlight on Benoni's thriving property market
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Thinking of moving to Benoni? Great choice! The East Rand town is a popular place to put down roots whether you're a buyer or renter. Benoni offers affordability, top amenities, and a range of properties to suit your needs. Christin Green, Administrator at Century 21 East Rand, shares her expert insight to help you reach your real estate goals in the area.
Discover the Benoni area
Take a roughly 30-minute drive from Johannesburg, and you'll come to the scenic town of Benoni. The area is centrally located, also offering easy commuting to Boksburg, Germiston, and Kempton Park.
According to Green, Benoni boasts some of the best schools in the Gauteng area, both public and private. It is rich in history and has been in existence since 1881. Benoni has a close-knit community; it is affectionately known as the "City of Lakes" by many residents due to the four lakes situated within the town.
Benoni's hot property market
At present, affordability is a huge trend impacting the property market. Green says the record-low interest rate is also empowering potential property buyers to take the next step.
"The current economic situation is allowing many potential property buyers to consider long-term investments and earning potential of properties. These are not just a place to call their home but places to build wealth.
"In terms of demographics, Benoni is seeing significant interest from young professionals and families. Property24's trends and statistics reveal that over 70% of buyers in the last six months are between the ages of 18 and 49.
"Security remains a popular factor for buyers and renters; as an area known for its safety, buyers and renters continue to eye up Benoni property. The area offers a wide variety of houses for sale from R400,000 to over R10 million. Renters can lease a two-bedroom apartment for as little as R6,500 per month."
Buying a house in Benoni
Those interested in Benoni properties should take note: the residential market has escalated as of late. There are large free-standing homes, cluster homes, duplexes, estate homes, apartments, vacant land, and farms available for sale. Green observes that there is even a surge in smallholdings that were dormant for the past few years.
"This bodes well in the eastern areas of Benoni that will add additional interest in adjacent properties. The typical market is sitting from the early R700,000 reaching the R2,5-million mark."
Whichever property you choose, you will be buying in an area with long-term investment potential, says Green.
"Benoni is seen as a relatively safe community. As the hub of Gauteng, it is close to many amenities with regard to work and travel. There are also many hidden gems located within Benoni if you know where to look - a good agent will be sure to point this out to you.
"Benoni is also paramount to South African history. You just need to visit the local Benoni Museum to uncover the area's rich struggle, mining, and military heritage.
"All in all, Benoni is a serene, safe, and beautiful area to be living in. It is part of the hustle and bustle of Gauteng yet it is also seen as a quiet and tranquil area that sets itself apart in many ways. The area, as close as it is to Boksburg and Brakpan, offers arguably more picturesque neighbourhoods."
Green advises prospective property owners to view Century 21 East Rand's range of properties for sale, and to contact the agency's Benoni area specialists for help.
Renting a house in Benoni
If you're in search of fuss-free, flexible living, Benoni provides excellent rental options. According to Green, Benoni is centrally located with many different properties being rented out. These include complex homes with 24-hour security to large free-standing homes with beautiful gardens. Benoni truly has it all for renters - it's affordable, close to all major suburbs, a wonderful area to put down roots, and has a strong sense of safety.
With the perfect rental just waiting to be claimed in the area, Green offers advice for eager renters keen on finding their Benoni home:
- Ask questions, don't be hasty, take your time. That rental designed just for you is out there, your patience is needed and will be rewarded.
- Develop a relationship with your landlord or managing agency. You are signing into a contract with them that will be long-standing. Therefore, a good relationship is paramount.
- Know your rights as a tenant when it comes to rules and regulations, and keep your record clean.
Should you buy or rent in Benoni?
On the property hunt, you might struggle with the age-old question: should you buy a property or opt to rent instead? Green points out that there are unique advantages to both, and comparing the two is tough. Overall, property-seekers will have to weigh their own needs, budgets, and lifestyles.
"Buying a property is a way of establishing the start of an investment portfolio as well as securing a future potential income for yourself and your family. If you buy, you will be paying off your own bond instead of someone else's.
"However, if you don't have the finances at present to consider buying, this is where rentals come in. Use the rental as a way to start saving money as well as building a good credit rating which in today's society is a big thing. An advantage of renting is not having to deal with any problems or defects that arise while living in the property."
Contact Benoni's go-to property professionals
Green emphasises the importance of partnering with local area experts like Century 21 East Rand.
"Do your research and don't settle for the first house you see. This is a lifelong decision you are making so take your time, weigh up the pros and cons, and find out if you can afford it. Century 21 East Rand can assist Benoni buyers with our free in-house bond originator services which allow for a quicker and easier process when applying for funds.
"Finally, whether you are buying or renting, make sure you are dealing with a reputable real estate agency that will put your best interests first."
To get started, view Century 21 East Rand's Benoni properties for sale or to let, and make contact with the team today.
Author: Century 21 South Africa
