If you're considering taking the first step towards homeownership, you're not alone. According to data from Lightstone, millennials now make up to 42% of all property purchasers, particularly in major urban areas. Benoni has emerged as a magnet for young property-seekers looking to establish roots in a community that offers a blend of urban convenience and suburban appeal.
Property24's trends and statistics paint a clear picture: over the past six months, roughly 35% of buyers in Benoni fall within the age range of 18 to 35. So, what is it about the City of Lakes that has captured the attention of young professionals and families alike? Savas Nicolaides, Principal at Century 21 East Rand, shares the inside scoop on this trend.
Unpacking Benoni's hot location
As buyers weigh up rising interest rate hikes, fuel prices, and cost of living expenses, location will be a major deciding factor. Savas Nicolaides says Benoni's attractive location has made it a winner for price-conscious young buyers.
"Benoni is close to the Sandton hub (25 km), Johannesburg (40 km), and Midrand (50 km). However, it's comparatively more affordable for first-time buyers, making it a great choice for those working within those areas," he says.
The area has easy access through national and regional routes such as the N12, R23, R29, and R51. And when it's time to travel for work or pleasure, Benoni is less than 20 minutes away from O.R. Tambo International Airport.
Pinpointing Benoni's sought-after suburbs
Benoni's tree-lined streets, strong suburban character, and laid-back appeal make it a prime pick if you're looking for an alternative to fast-paced or industrialised surroundings. But which part should you consider? Nicolaides points to Rynfield and its immediate surroundings as they boast a high concentration of affordable townhouse-type developments and a wealth of amenities.
"Rynfield has much to offer young buyers looking for convenience and a comfortable lifestyle. For shopping, you can head to Northmead Square or the large SUPERSPAR Rynfield. Netcare Linmed Hospital and Rynfield Veterinary Hospital place quality healthcare right on your doorstep for the whole family. Your children can attend nearby Laerskool Rynfield, Rynfield Primary School, SPARK Rynfield, or Ridgewood College," he says.
The suburb also gives buyers plenty to keep busy after work or on weekends. Popular attractions include the Bunny Park, Benoni Monkey and Bird Park, Ebotse Golf & Country Estate, and Benoni Northern Sports Club.
Revealing Benoni's most-wanted homes
On the property hunt, you'll find Benoni has a range of properties: large free-standing homes, cluster homes, duplexes, estate homes, apartments, vacant land, and even farms and smallholdings available for sale. However, it has a key option that is a favourite for young buyers.
"Typically we are finding that the sectional title concept, the lock-up and go unit, is the choice for the younger home-owner," says Nicolaides. "Besides offering security, fuss-free living, and a close-knit community, it is also more affordable than a full title home. This additional factor is likely a top reason for the younger workforce who have just started working so to speak."
For just R590,000, for example, you can buy a lovely two-bedroom apartment in Rynfield. With an open-plan living room, open plan kitchen room featuring a gas stove, tiled flooring, and a large balcony, this would be the perfect modern starter home for a young family.
Navigating Benoni's property market
While buying for the first time can be daunting, Nicolaides says young buyers have the support they need with Century 21 East Rand. "Contact one of our property practitioners and they will assist you with a bond pre-approval first. This will allow you to literally look at properties in your affordability range, cutting down on wasted time and disappointment. Our specialists are also well trained and will be at your side every step of the way during the process."