The cost of container homes in South Africa can vary depending on various factors such as the size of the container, the design complexity, the quality of materials used, and additional features or modifications.
Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa noted that the emerging trend of container homes has opened up more affordable options in the local property market.
However, he cautioned that buyers still need to consider the expense of acquiring land, which can make these purchases less accessible for those seeking affordable housing.
In certain areas, it might be more economical to buy land and construct a tiny home rather than purchasing an existing property.
This could provide first-time buyers with a relatively more affordable entry point into the housing market, but it's essential for buyers to thoroughly understand all associated costs before proceeding, advised Goslett.
Pricing
A basic one-bedroom unit of 15 square metres starts at around R215,000. This offers an open plan bedroom, kitchenette fitted with built-in cupboards, a bathroom with a pedestal sink, laminated flooring throughout the unit, 12-litre gas geyser, and more.
A one-bedroom, 30 square metre unit, excluding optional extras, will cost upwards of R335,000, while 60 square metre, two-bedroom unit with two bathrooms starts from R685, 000.
90 square metres and over would stretch towards the R1 million mark, while all of these figures would depend on the quality of materials and design requests, while additional extras like solar panels etc would also need to be factored in.
Goslett added that container homes present investors with a cost-effective opportunity to diversify their property portfolios and generate passive income. Moreover, homeowners with sufficient space on their properties may explore adding a container home to rent out, aiding in mortgage repayment acceleration.
Prior to pursuing this concept, it's crucial to investigate local building regulations and obtain necessary permissions from the city council, he said. While some areas may embrace tiny homes, others may impose restrictions based on dwelling size or zoning regulations.
Additionally, ensuring compliance with building regulations may entail higher costs than anticipated.
Homeowners should also consider road access when contemplating container homes, particularly if pre-built or modular units require crane installation onto the property. Adequate road access and any requisite permissions for crane usage must be confirmed beforehand.
Whether one seeks simplicity or a means to generate passive income, the tiny home movement offers an intriguing alternative worth exploring.
Goslett noted that, depending on construction quality, these homes may appreciate over time, presenting a viable long-term investment.
As for tips on cozy-home hunting, considerations such as location, essential amenities, future needs, furniture compatibility, storage availability, security features, guest accommodation, compliance certificates, and potential additional expenses in complexes or apartments are essential for informed decision-making.
Pros
Cost-effectiveness: Shipping containers are affordable to purchase and maintain, and they are readily available.
Affordability: A fully furnished two-bedroom container home equipped with off-grid amenities can be acquired for under R500,000.
Rapid construction: Converting a container into a liveable space takes only three to four months, significantly shorter than the approximately 18 months required for traditional brick and mortar homes.
Flexibility: Container homes are easily modified and upgraded, facilitating the addition of rooms or entertainment decks.
Low maintenance: Compared to conventional homes, container homes require less maintenance due to removable panels that provide convenient access to plumbing and electrical systems.
Mobility: Container homes can be relocated with ease if needed.
Cons:
Municipal Approvals: Obtaining municipal approvals for container homes can be challenging, although this is gradually improving as local authorities increasingly recognize the quality of such dwellings.
Financing: Banks generally remain hesitant to extend home loans for container homes, though some, like FNB, are beginning to consider them. However, specialized financiers are available to provide loans with shorter repayment periods compared to conventional mortgages.
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