Investing in life rights and a new generation of retirement villages

Investing in life rights and a new generation of retirement villages

Kronendal encapsulates the modern retirement village 

Traditional and dated old age homes are a thing of the past, today retirement villages are being developed for a new generation of retirees. Those who find themselves with time on their hands to enjoy their new lifestyle and perhaps to travel but they nevertheless still want to plan for all eventualities.

Ageing cannot be dodged and it can be tough to face without the right planning. One never knows when one may need to adjust to a life which requires a higher level of care a concern that worries not only the retirees but also their families. Often the onset of medical complications and longer recovery times coupled with changing social needs is difficult to deal with. However, with expert advice and professional care it can be a smooth transition for the older persons and their relatives.  Especially if your retirement village has it’s own Care Centre.

Care facilities 

The Cape Peninsula Organisation for the Aged (CPOA) runs more than 25 retirement facilities catering for about 2 300 residents. In Kronendal Retirement Village in Hout Bay, which CPOA operate, there are 52 independent living Life Right apartments as well as a 21 room Care Centre to accommodate the needs of residents who may require full-time care.

CPOA is completely focused on finding the optimal retirement facility that matches the retiree’s needs and personal circumstances as well as their financial possibilities. CPOA retirement facilities cater to those looking for an independent living environment but they also cover low to mid-care needs, full time-care and also memory care. Care packages are available and are tailored to offer residents an entire spectrum of care services.

Life Rights 

Life rights have also emerged as a preferred option for investors. A retiree purchases a Life Right, it is a transaction where the purchaser and their spouse obtain the right to live in a specific dwelling for the rest of their lives. Subsequently the capital is returned with a profit share (depending on the options selected). One of the major benefits is that the Life Right transaction does not carry the usual property transfer costs as the dwelling remains the property of the retirement organization which is also responsible for maintenance. 

A Life Right is the highest form of personal rights protected by law, making this a safe and secure investment. Owning a Life Right mean the comfort of a secured return on investment without the hassle of property upkeep and security worries. Kronendal Retirement Village offers Life Right apartments from R1 230 000.

Lifestyle and social needs 

Retirement villages are now also conveniently set up to cater for the social cohesion fitting to older persons they offer a variety of services and activities developed with the needs of active retirees in mind and they are becoming increasingly popular in South Africa. 

Kronendal Retirement Village pays special attention to the social needs of it’s residents. The lively club house offers a space to meet friends and enjoy a variety of activities. There is a comfortable bar area which of course has Wi-Fi as residents like to keep in contact with family and friends via e mail and social media. 

With low maintenance and lock-up and go apartment living, Kronendal Retirement village is a great investment option for real estate investors and a most comfortable  and safe place to reside for pensioners.

Sales enquiry for Kronendal

Retirement Village contact 021 791 7200 or email info@cpoa.org.za 

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