Lock-Up and Go Redefining Home Ownership in Zimbabwe

The continuous evolution of the homeownership market has been heavily influenced by the changes in technology, lifestyle and even generations. The recent turn of events due to the pandemic meant the home needed to be a space where one can live, work, and play. In the grand scheme of things, the communities that homes are located in require safe, and convenient access to amenities such as shopping malls, schools, hospitals, amongst several recreational and commercial facilities.?In addition there is a need for an efficient and flexible way of owning a home.

The current economic climate has been less favourable to the generations under 40 years of age. The cost of entry into the property market for first time buyers is high. However this doesn’t mean that it's impossible for Millennials and the generation following them cannot have a stake in real estate. At West Property Zimbabwe we have come up with a model that makes home ownership a reality.

A concept fairly new to Zimbabwe of purchasing property at lock-up level is a game changer. This approach to buying investment real estate differs from the traditional home purchase. In traditional homeownership, the process is stressful, drawn-out and brings heaps of responsibilities like mortgage payments, property tax, maintenance and insurance.?

What is the “lock-up” level? Lock-up’ stage refers to the completion of the superstructure with all windows and external doors fitted. This often includes the first fixture in plumbing and electricals. Painting of internal walls, floors, finishes, fitted cupboards and other fixtures or fittings are excluded. This offers the homeowner an opportunity to complete the interior finishes to their own taste.

When you're building a house, reaching the lock-up stage is a huge milestone. The home can be securely protected once the external doors are closed and the windows are installed. This means it's much safer to begin installing appliances and fixtures e.g. light fixtures, taps etc.. By investing in a lock-up shell one cuts costs of building from the ground up. At Millennium Heights we are offering at lock-up stage bedsitter (33sqm), one bedroom (74sqm) and two bedroom (106sqm) apartment units with all including a bathroom, open plan living and balcony, or verandah.

We are offering homes at lock-up stage available at our Pokugara Residential Estate townhouses and apartments at Millennium Heights Estate located in Borrowdale. At Pokugara Residential Estate we are offering four bedroomed townhouses consisting of open plan living, three bathrooms, courtyard, and a garage, or carport. The first block of apartments at Millennium Heights consists of 24 units, was completed to lock-up the stage and sold out. These units were handed over to clients who are completing their internal finishes and ready to move into their new homes. The second block is nearly sold out whilst selling off-plan and the company is now taking offers for the third block in a similar fashion to the latter. The three bedroom townhouses in Phase one within Pokugara Residential Estate sold out with units built up to the lock-up stage. The next phase of townhouses will include three different models which are named Garden for the single storey units, whilst the double storey units are Villa and Manor. The designs are modern and customer centric and built to completion. Clients are spoilt for choice to choose premium finishes that suit their lifestyle.

This path to property ownership means that many can be included in real-estate investment particularly in prime locations. We can look towards a future where ownership is possible for anyone who feels compelled to invest in their community.?