Sales

BACK TO SALES  |  SPECIFICATIONS  |  DOCUMENTATION

How to select a Retirement Village
 

If you want to protect your hard-earned money and secure peace of mind in your old age, you should investigate your options meticulously, says Mr. Heiner Meyer, the developer of Oostvallei Retirement Village.

Under the Housing Development Scheme for Retired Persons Act (Act. No. 65 as amended in 1988) the property of a Retirement Village should be endorsed in the deeds office to ensure that this forms the quintessence of the occupation agreements. This in short means that the residents own more rights and enjoy more protection than any other institution or person equal to the amount of his or her investment.

There is however other retirement villages that were developed before the passing of the Act commenced and therefore the Act is not applicable to them. In such cases the potential buyer should meticulously scrutinise the scheme and perhaps obtain some or other guarantee to be on the safe side.

You should especially ensure that no bond has been registered on the property. In cases where Retirement Villages run into problems, the cause is almost always as a result of the debt burden that irresponsible developers have placed on it. The only safe option is as in the case of Oostvallei where no bond or debt threatens the property. Everything is done on a cash basis in order to protect its residents’ hard earned investments.

Oostvallei is marketed on the occupational right principle. If the deal is handled in the Oostvallei manner it is as safe as a title. Another safe way is sectional title which is however not appropriate for a retirement village. The developer of a sectional title scheme will sell the units at the highest possible profit and is then no longer involved. In their old age the residents are then responsible for the upkeep of the village.

Apart from the financial security, personal safety, healthcare, communal facilities and a happy co-existence with other residents is important. It is after all the last choice of home a person makes and you then expect to have a peaceful and untroubled life.

Oostvallei is not an old age home, but a retirement village. Many residents are only 50 years old and are still in employment. The village could even be referred to as a holiday resort instead of a retirement village. This is in fact the comment of many people who come to view Oostvallei. Senior citizens who are on the lookout for comfort, convenience and financial security will find it in the Oostvallei Retirement Village in Garsfontein.

This is a private village with no ties to financial institutions that want to enrich themselves at the cost of retired persons. It is not a sectional title scheme and the residents therefore have full authority. Persons who wish to put their savings into a secure investment therefore do not have to think twice before they contact the Oostvallei management.

The unit prices in retirement villages cannot be compared with those of an ordinary townhouse development, because cost of the infrastructure for the development of a retirement village is much higher than in the case of an ordinary residential development.

Printer friendly version of this page