Retirees and empty-nesters can unlock value by selling or renting the second dwelling or by selling the right to construct a second dwelling. They can do so without having to move away from the suburb in which they have lived for many years.
The City of Cape Town’s Municipal bylaws grant an automatic right to build a second dwelling on almost all properties in Cape Town, no mater what the zoning.
It is best to consult professionals to assist with the process as there are numerous interacting regulations that must be adhered to.
You will need
Conveyancer – to conduct a deeds search to establish if there are any restrictive conditions in the title deeds. Restrictive conditions override zoning rights so they will have to be lifted before you can proceed.
Town planner – to help you to understand the regulations as they pertain to your property.
Architect – to prepare a site plan which optimize the opportunities.
You will have to decide if you will be selling freehold title or sectional title. There are pro’s / con’s to consider. Your estate agent and conveyancer can help you weigh them up. In most cases a sectional title scheme is the best option.
There is a great deal more to the entire process. Get in touch if you would like a free consultation. We can also recommend experienced professionals that will assist you with all aspects of a project of this nature.