If you have R5 million to spend on a home, or dream about having R5 million to spend on a home, we have hand picked three options in Johannesburg, Cape Town and Durban, to give you an idea of the range of properties you can buy.
For the same amount of money, you can get very different lifestyles, from an 83 square meter, one bedroom flat in the heart of Sandton, to a 5 bedroom house in the quiet, tree lined Cape Town suburb of Welgemoed designed for entertaining, to a sprawling 3 bedroom colonial home in Durban North that presents an opportunity to make income from its additional 3 bedroom cottage.
So, which home would you buy?
If you might like to have a place to touch down when shopping in Johannesburg, a flat at the Michelangelo Towers might be just the place to drop off your shopping bags laden with the latest fashions before heading on to the next boutique.
WHAT: 1 bedroom flat
- HOW MUCH: R4.5 million (~$330,000 USD)
- SIZE: 83 square meters
- PRICE PER SQUARE METER: R54,216 (~ $4,000 USD)
SETTING: Sandton Central Business District. Property is in the center of a bustling downtown area, with proximity to all of the offices and retail properties in Sandton. The area has some residential properties, but is primarily a business district, with the rush hour traffic coming in and leaving the area as one would expect. The Gautrain is steps away, providing a quick transfer to the airport for the many business people who live and work in the area.
INDOOR SPACE: Fully furnished, one bedroom, one bathroom, nicely fitted out with granite counters & stainless appliances in the kitchen. Lovely views from a high floor. Like all flats in the Michelangelo, comes with security and convenience afforded by being attached to the shops, restaurants, office space, medical rooms, entertainment, and meeting spaces of Mandela Square, Sandton City, Sandton Convention Centre, Intercontinental Hotel, and more, without going outdoors. Access to two gyms, an indoor pool and an outdoor pool. Order room service from Parc Ferme restaurant. Hotel-style living, with maid service available.
OUTDOOR SPACE: This flat is one of the rare units in the building with a balcony.
Photo Credit: Pam Golding Properties
CONTACT: Wayne Venter, Pam Golding Properties | +27 73 254 1453 | firstname.lastname@example.org
Looking for a great place to raise your children and host parties for your large extended family and a big network of friends and colleagues? Look no further than this home in Cape Town where you can have three braai grills going at once, two indoors and one outdoors, in addition to a huge games room, playground for children, and fish pond.
Welgemoed, Bellville (Cape Town)
WHAT: Single family house with 5 bedrooms, 3 full baths, 2 guest baths, 5 indoor entertainment areas including indoor braai room and a game room, 3 car garage, pool, outdoor gazebo entertaining area, domestic quarters.
- HOW MUCH: R4.5 million (~ $330,000 USD)
- SIZE: 440 square meters
- PRICE PER SQUARE METER: R10,227 (~$757 USD)
SETTING: Welgemoed is a quiet, tree lined, residential suburb. Technically it is part of Bellville, a city of just over 100,000 people, within the Cape Town metropolitan area. Located just 20 minutes from downtown Cape Town, 30 minutes from the wine farms in Stellenbosch, and located just off the N1 Highway.
The area is home to some faculty and other affiliates of The University of Western Cape, which is located within Bellville. The 18 hole Bellville Golf Course is next door, as is the Belleville Velodrome, host to a number of sports and music events. The nearest shopping is The Tyger Valley Shopping Centre, with 250 stores, restaurants, cinema, etc., 4 kilometers away.
The house, built in the 1990s, is open plan, with much light as most rooms have floor to ceiling sliding glass doors and windows. The lounge and family room have wood paneled ceilings.
INDOOR SPACE: The kitchen includes original appliances, and cupboards finished in melamine. It opens onto the dining room, and also contains a breakfast bar. Floors in the reception areas are tiled, with most bedrooms having hardwood floors. The indoor braii room has two grills, one gas fired and the other wood fired.
OUTDOOR SPACE: The property sits on an erf, plot, that is almost 2,000 square meters. Outdoor entertainment areas include the pool and its adjacent covered gazebo with a built in braai, a fish pond, and a children’s playground. In addition, ample garden area with plants, flowers and palm trees.
Photo Credit: Harcourts Select
CONTACT: Estee Louw, Harcourts Select | +27 82 776 0997 | email@example.com
If you are a little short on cash to fund your dreams, this next house may be the right choice for you as it offers a range of possibilities to generate cash while giving you a lovely home for your family. Currently run as a bed and breakfast, you can move in and live in the main house yourself, while renting out the rooms in the cottage.
WHAT: Colonial style, structured as a single family home plus a large cottage totaling 7 bedrooms, and 7 bathrooms. Could be occupied by one family, or income can be earned by renting rooms as a bed & breakfast, as the current owners have done for many years.
- HOW MUCH: R4.2 million (~ $310,000 USD)
- SIZE: 415 square meters
- PRICE PER SQUARE METER: R10,120 (~$750 USD)
SETTING: Durban North, a leafy residential suburb characterized by large, grand, old homes dating back nearly 100 years, is bound on the east by the Indian Ocean, and on the south by the Umgeni River. It is evenly situated 10 kilometers north of the Durban CBD, and 10 kilometers south of the newer and fashionable Uhmlanga.
Many of the large homes in the area are occupied by large, extended families. There are several grocery stores and strip malls for basic services in town, and adjacent suburbs of La Lucia and Glen Ashley. The nearest major shopping center is Gateway Mall, with over 400 stores, restaurants, cinema, etc. in Uhmlanga, 10 kilometers north.
INDOOR SPACE: Built in the 1920s, the house has many original details including ceiling moldings and Oregon hardwood floors. The kitchen and all bathrooms have been renovated. Three of the bedrooms are contained in a separate granny flat, which also has its own lounge and kitchen, and could be occupied by a separate family unit.
All bedrooms are serviced with individual through-the-wall air conditioners. Current owners have organized the space as a bed and breakfast. There are many potential possibilities for this home ranging from occupying the entire property as one family, to running the entire property as a bed and breakfast, to occupying the property and letting out some rooms as a bed and breakfast, to hiring out the cottage to a long term residential tenant, to running a business or doctors’ rooms after reconfiguring the cottage.
OUTDOOR SPACE: The property sits on a level erf, plot, nearly 2,000 square meters.
Photo Credit: Wakefields
CONTACT: Caroline Elgar, Wakefields | +27 82 654 0470 | firstname.lastname@example.org
The range of options of what you can buy for R5 million in South Africa is quite wide, and depends on a number of factors including your family size, lifestyle choices, and need for additional income to afford the home.