select
|

Make the right choice for retirement living

For many home owners retirement signifies the need to downscale to a smaller apartment or townhouse.

This transition allows for living expenses to be reduced and safety and convenience to be improved, and also provides the opportunity to be a part of a community in your later years.

“The greater Cape Town region offers many retirement villages and retirement friendly locations and there are areas and price brackets that could suit almost everyone,” says Wilma Vorster of Knight Frank Residential South Africa.

“When planning to move to a smaller home or retirement complex you need to be sure what you can afford and what the area you are moving to has to offer.

“In retirement villages you need to look at amenities like frail care and security, as these are high priorities later in life. Many retirement villages offer transport to and from shopping centres, on-site maintenance personnel, restaurants, libraries, exercise facilities, internet connectivity and organised social activities – all built into the cost of the property. This makes these complexes a prime choice compared to moving into an apartment not in an estate catering specifically to these needs.”

Some retired people might prefer simply to downscale. Important considerations to keep in mind for this type of move are the upkeep that a new townhouse or apartment will require, as well as the costs involved. This could for instance mean looking for a home with a smaller garden, fewer bedrooms and foregoing homes with swimming pools.

Vorster says that you need to be sure that your existing home is neat and clean when put on the market. Large renovations are usually unnecessary as buyers will make their own changes, but the property should be presentable and attractive to view.

“To ensure the process of selling your home runs smoothly, set a realistic listing price that is competitive, but not excessive. Compare the selling price you are considering to that of similar properties in the area to ensure it is realistic.

“If you keep all of these factors in mind, you will soon settle into your new home with the peace of mind that comes from knowing that you chose a practical retirement solution,” says Vorster.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK