For many homeowners, retirement signifies the start of downscaling to a smaller apartment or townhouse. This transition not only allows for living expenses to be reduced and safety and convenience to be improved, but also provides the opportunity to be a part of a community in one’s later years.
“If you are contemplating moving to a retirement village, it is imperative that you look at amenities such as frail care and security, as these are of high priority later in one’s life,” says Vorster.Wilma Vorster, Estate Agent at Knight Frank Residential South Africa, says there are two very important factors when planning to move to a smaller home or retirement complex: what you can afford and what the area you are relocating to has to offer.
“If you are contemplating moving to a retirement village, it is imperative that you look at amenities such as frail care and security, as these are of high priority later in one’s life,” says Vorster
“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, making these complexes a prime choice against moving into an apartment not located within an estate catering specifically to these needs.”
She says the greater Cape Town region offers many options for retirement villages or retirement-friendly locations and thus “there is an area, and price bracket, that could suit everyone”.
For many homeowners, retirement signifies the start of downscaling to a smaller apartment or townhouse. This transition not only allows for living expenses to be reduced and safety and convenience to be improved, but also provides the opportunity to be a part of a community in one’s later years.Some retirees 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 forgoing homes with swimming pools, says Vorster.
Potential sellers should keep their houses neat and painted when they put them on the market, she advises. “Large renovations are usually unnecessary as buyers will make their own changes, but the home should be presentable and attractive to view.”
To ensure the process of selling your home runs smoothly, she says to spare yourself unnecessary stress by having a realistic asking 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.
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