life rights
There are an enormous number of life rights schemes available to South Africans, and we are spoilt for choice when it comes to choosing a retirement village that meets our specific requirements and budget. Life right developments cater for all
Understanding the potential expenses you may be faced with at various stages during your retirement is key to developing realistic scenarios. For example, one could reasonably expect to spend more on travel during the first decade of your retirement with
Appropriately timing the sale of your primary residence is imperative, not least of all because the decision can be a hugely emotional one which can become more overwhelming with age. Further, if your retirement plan is dependent on some or
If you’re an animal lover, keep in mind that many retirement villages have strict ‘no pets allowed’ policies, while other villages allow small pets and service dogs only, so be sure to do your research in advance to avoid heartache.
If the body corporate needs more money, they are further entitled to raise a special levy which can be used to cover the costs of necessary expenses which cannot wait until the next financial year.
As opposed to an investment in property, life rights ownership is an investment in lifestyle, security and peace-of mind, but it is important to understand the legal and financial consequences of buying into such a scheme.
