Glenzicht Retirement Village - Life Right for sale
ZAR 1,200,000
Web reference: 114022754
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Floor Size: 100m2

This complex is well sought after with a warm friendly community of residents. This Retirement Village is located in Oakdene and is beautiful with well maintained gardens, 24 hour security and is situated close to all amenities. Sold under Life Rights - for Persons Aged 50+ only. Offering 2 large bedrooms, 1 bathroom, massive lounge and dining space, open plan kitchen, single garage and courtyard.

- Outdoor communal garden areas with gazebo, table and chairs
- All extra in-house facilities listed below are available for the residents
- No transfer costs payable plus low levy of R1 500 per month

On Site Facilities include:
- 24 Hour Security
- Hall
- Bible Study Classes
- Church
- Library
- Dentist
- Clinic
- Nurse
- Audiologist
- Doctor
- Hairdresser
- Gym
- Emergency Buttons
- Squash Court
- Laundry
- Fir Alarm
- Covered Parking
- Private Post Box
- Knitting Club
- Wheelchair Friendly
- Courtyard with Gazebo
- Restaurant

Communal Dining Room
** Regrettably NO PETS allowed
** NO frail care facility available

Understanding 30% Life Rights:
One advantage of a Life Right purchase is that there is no property transfer costs and no bond registration fees, no transfer duties and no VAT payable. Additionally, the Life Right holder is given a draft levy budget for the first three years of occupation which ensures that there are no hidden costs and allows the Life Right holder to financially plan accordingly. Life Right residents enjoy similar privileges to those in homes purchased by sectional or other title, only that the developer retains sole ownership of each unit and therefore carries the responsibility for external maintenance of the unit, the village and its facilities. This relationship therefore ensures that all facilities are regularly maintained, and no special levies can be charged to the Life Right Holders. When the Life Right terminates, through death or other circumstances, it reverts to the owner of the village, who is then entitled to resell it. Upon a successful resale, the estate receives the original Life Right purchase price along with a profit share and less the selling and refurbishment costs. Essentially a Life Right scheme can be viewed as a housing product, an insurance policy and a worry-free existence rolled into one.

Wendy Dickinson
Property Details
OverviewRoomsStreet View
Type of PropertyTownhouse
PriceZAR 1,200,000
Mandate TypeSale
Floor Size100m2
LeviesZAR 1,500
Pets AllowedNo
LifestyleSimplex
SecuritySecurity Gate, 24 Hour Response, Burglar Bars, Guard House, Guard, Outdoor Beams
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