Investing in a holiday home in Knysna
Category Rental Advice
The lovely city of Knysna is a top destination for both homeowners and tourists. Holidaymakers often flock to this mesmerizing location to enjoy the local food and craft beer, cruise the lagoon, play a game of golf on one of the three world-class courses, get up close to elephants and other animals at a wildlife sanctuary, indulge in the yearly Knysna Oyster Festival, and more.
While Knysna is a great location to establish or expand a business opportunity, it is also a lucrative town to purchase an investment property. According to www.knysna.gov.za Knysna attracts approximately 33% of the tourists who visit the Garden Route District, which is more than Mossel Bay, George, and Wilderness combined.
The leading sectors in Knysna are finance, business services, wholesale, retail, trade, and accommodation. As a result of these sectors being well sought after, many professionals who work in these industries are more than happy to make the town their home. Having a new investment property in Knysna can serve as an extra stream of income should your intention be to buy-to-let.
When considering Knysna many investors ask why should they? Not only is the economy in the town striving, but being a world-renowned tourist destination has paved the way for more foreign investment opportunities, good infrastructure and basic services, as well as ample industrial land and commercial space. This leads to labour opportunities, housing, and education facilities being more accessible.
Investing in a holiday home in Knysna can be a challenging process. However, if done correctly it can be a breeze. Gaining finance for a new investment is easy as there are many institutions ready to grant loans provided you meet their criteria. They include financial institutions, banks, and money lenders in the market. It is highly advisable to secure your finance from a reputable and trusted source. One such specialised investor Buy-to-Let product is currently offered by Absa home loans. Find out more by following this link to their product website https://www.absa.co.za/personal/loans/for-a-home/buy-to-let-home-loan/
Important documents required when applying for finance:
- Salary slip or proof of income.
- Copy of your ID document.
- Last 3 months personal bank statements.
- Personal assets and liabilities statement for loan amounts over R1 500 000.
- Copy of the sale agreement.
- Copy of your marriage certificate or ANC contract (if applicable).
The process of securing finance for your investment in Knysna
- Make life easier and beat the long queues by opting to email your forms to a leading Mortgage Originator such as BetterBond. A skilled BetterBond consultant can also come to you. Make sure you have all your documents in order as this will also save you time.
- You can also apply online by visiting their website at https://www.betterbond.co.za/i-need-a-bond
- Ensure that all the information regarding the planned purchase is completed and ready to present to the BetterBond consultant.
- In some cases, the lender may want to visit the proposed property to make certain that it is a good investment.
- Once the property has been evaluated then the loan arrangements can be finalized if there are no further obstacles.
- The duration that the loan takes to be approved will depend on many factors. The size and nature of the property, as well as your financial history, will influence the time taken to approve your loan for your new investment in Knysna.
3 Bedroom House For Sale In Knysna Quays
This lovely three bedroom investment home has gorgeous canal views, a big swimming pool and double garage. Situated at The Knysna Quays, this is a very sought after development with lots of earning potential. This unit can be a highly successful rental on Airbnb. This well-secured property is easy to maintain and comes with two moorings which are directly in front of the unit.
Buying an investment property can be a daunting and nerve-wracking process. At RealNet Properties, we do our best to assist you in this matter. Contact us now to secure your investment property.
Author: RealNet
