A new beginning at Nautilus Lifestyle Village
Written by Ben Smit
Construction has started on the show unit of the Nautilus Lifestyle Village in Struisbaai. Soon potential residents will be able to see the elegant range of finishes which will be on display. Nautilus is conveniently situated in close proximity of all amenities to ensure ease of travel around the centre of Struisbaai and surrounding areas. Nautilus Village is 250m from the Main Beach of Struisbaai with the Sea Shack Restaurant right at the beach. A short walk from there along the boardwalk brings you to Catch Cook Restaurant in the harbour. You can enjoy beautiful walks along this Blue Flag Status Beach. It has the longest uninterrupted beach in the Southern Hemisphere (14km), stretching from Struisbaai all the way to Otter Beach in Arniston/Waenhuiskrans.
It is just amazing how well positioned this development is. The following are also within walking distance: eateries like Tolbos, Cape Trading Post and Fish and More, the OK grocery store, and should you be in need of a doctor, the consulting rooms and pharmacy.
There is plenty to do in this little town. The following are activities arranged by the different clubs and associations: Angling, Tennis, Cycling, Jukskei, Bowling, Bird watching and Painting. There is a Reading club, Walking club, and Bridge club. Even gym classes for seniors. There is also a Heritage and a Conservation Association. No sitting at home you see!
Nautilus Lifestyle Village is based on the life right model which is the most popular way globally to retire stress free. It has been applied successfully in South Africa for over twenty years. The life rights proposition is a well-established concept, contained in the Housing Development Schemes for Retired Persons Act No 65 of 1988 (HRP Act), which provides safeguards for both the purchaser and the developer. In Australia and New Zealand, the most widely accepted model is the ‘License to Occupy’ (life right) scheme, where 80% of residents in a retirement village have a Licence to Occupy agreement. Gavin Wolmarans, Fund Manager of the Old Mutual Retirement Accommodation Fund (OMRAF) within Old Mutual Alternative Investments (OMAI) - the largest private alternative investment manager in Africa - says; “perhaps the most important advantage of a life rights scheme is the administration and management of the retirement village. The life right model offers purchasers peace of mind in the knowledge that the developer is there for the long haul providing the skills and expertise required to effectively run and maintain all aspects of the retirement village.”
Life expectancy for South Africans is on the rise. Increased longevity could create a scenario where your retirement savings may not be enough to support you into old age. You don’t want to have to worry about outliving your savings and having to move somewhere more affordable later on. As the name suggests, a Life Right in a retirement village guarantees a safe, secure home for the rest of your life. It also means transparency when it comes to levies. These have to be predicted two years in advance so that you’re fully aware of the amount you’ll be paying and for which services. Levies may be increased annually, but a major benefit is that, unlike in sectional title developments, Life Right developers may not impose special levies. When you purchase a Life Right, you’re investing in a stress-free retirement lifestyle and a well-maintained environment. The developer retains ownership, so they are responsible for the upkeep of the exterior of the property, as well as management and maintenance of the estate. You’re free to focus on enjoying life without the admin that comes with owning a property outright. With a Life Right option, you don’t have to worry about the maintenance of the common areas of your village. This crucial long-term liability is, by law, the responsibility of the developer. In sectional title schemes, maintenance is the responsibility of the owners themselves - who may not be well equipped to make the best decisions or want the hassles and headaches of budgets, levies and renovation costs.
Life Right developments also typically offer additional benefits like on-site medical care and facilitate social events and activities. The Life Right model also gives a certain degree of flexibility when it comes to pricing and choosing of finishes and other interior elements. Also, a Life Right means you’re not liable for costs like transfer duty, VAT or capital gains tax, which could make a huge difference to your available funds. Perhaps most importantly, the developers can keep the price of Life Rights sales lower than sectional title as they can make their profits over a longer term as owner, when they resell a property that becomes available later on. We look forward to welcoming you to a safe, stress free, fun and enjoyable retirement in beautiful Struisbaai, so please do not hesitate to contact us for an appointment and viewing.