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A closer look at the Evergreen Life Right

Blog

Deciding where to live in retirement is one of the biggest decisions you’ll make as an older adult. At Evergreen Lifestyle, we offer retirees an opportunity to purchase a life right in our award-winning villages. If you’re considering your retirement options, here’s a closer look at what our purchase model has to offer you.

1. A home for life

As the name suggests, a life right guarantees you and your spouse or partner a home for the rest of your lives – and this agreement is protected by law. While a life right is not a financial investment, it is an investment in a safe, stress-free retirement lifestyle and it is an asset in your estate.

2. Flexible pricing
In a life right agreement, the cost of the life right is linked to the percentage of capital that is returned to your estate when the contract ends. This gives us a certain amount of flexibility in our pricing – in certain instances, we are able to tailor the cost of the life right to the purchaser’s budget by adjusting the return capital accordingly.

3. Transparent costs and levies
If you purchase a life right, you won’t have to pay transfer duties, VAT, registration fees or capital gains tax – and the first two years’ levies must be declared to you at the outset of the agreement. What’s more, there are no special levies in life right developments as the developer is responsible for the village upkeep.

4. Low-maintenance living

In life right villages, the developer retains ownership of the property in perpetuity. This means that Evergreen Lifestyle is responsible for maintaining, cleaning, painting, gardening, landscaping and securing each of our villages – and is committed to maintaining each development to the highest standard. So instead of worrying about the upkeep of the property, you can focus on enjoying a stress-free retirement.

5. Access to emergency funds

If you’re a life right holder in an Evergreen village and find yourself in a financial emergency, some of your capital could be released to fund levies or Care Centre costs. In this instance, the return capital due to your estate would be adjusted accordingly.

Keen to know more?

If you’d like to find out more about what Evergreen Lifestyle has to offer you, get in touch with us – we’d love to chat to you about our villages and our Partnership for Life promise. Call 087 808 7000 or email info@evergreenlifestyle.co.za today.

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