Can I Rent In A Retirement Village?
The retirement property industry has changed a lot in recent years. Once retirees had few other options other than a traditional ‘retirement home’. These days there are a range of retirement villages and lifestyle estates offering a range of options from life-rights, to full title sales, rentals and more.
Some pensioners may not have the funds to buy property in a lifestyle estate, especially if they are unable to secure a bond from the bank. For these people, renting in a retirement estate is a good option.
Retirees who aren’t quite ready to sell their family home often rent in a retirement estate before buying. They can rent out their property and use the rental income to fund the retirement home. This allows retirees to experience the estate before buying.
Renting when retired
Many retirees find themselves in a transition period before settling on exactly what to do in their retirement. Empty nesters may choose to sell their large family home to be free of extra maintenance costs and hassles. But before deciding where to settle next they may take some time to explore their options. Renting allows pensioners to explore different options without having to make a hard commitment.
Renting is also great for people considering ‘semigration’ from big cities like Johannesburg and Cape Town to smaller, more laid-back coastal towns like Umhlanga and Knysna.
The advantages of renting in retirement
While owning a home offers stability, renting offers the flexibility – explore a new part of the country, move closer to family or experience a new kind of lifestyle.
Renting can be a more affordable option than owning a home. Especially considering that retirees often won’t be able to access home finance.
There are less maintenance worries when renting. Forget about getting on the step ladder to check a leak in the roof. If the geyser bursts or your patio starts leaking, you can call upon your landlord to rectify the problem.
Renting can also free up your capital for investment purposes. If you want to invest in more liquid assets, you may want to sell your home and rent.
How Much Does It Cost To Rent In A Retirement Village?
On average, the rental prices in South Africa’s middle-market retirement villages start at around R9 000 per month. Luxury lifestyle estates offer rental from around R20 000 per month and up. Costs increase if frail care facilities are needed.
Retirement units to rent at Knysna Lifestyle Estate
If you’re looking to rent in a retirement village in South Africa, you need to consider the advantages of the beautiful Knysna Lifestyle Estate. Escape to the beautiful town of Knysna in the Western Cape and rent a property in amongst the fynbos.
Contact the Sales Office at the Knysna Lifestyle Estate to speak to our dedicated rental agents who will be able to tell you about our homes available for rent.
Rental property as an investment in Knysna Lifestyle Estate
If you’re considering investing in property, why not think about making an investment in a mature lifestyle estate like the Knysna Lifestyle Estate. Buy now and start paying off your retirement home long before retirement. This is a great option for people looking to diversify their assets with a stable investment opportunity. Our rental agents will rent out your property and handle the process from the signing of the lease to the return of the keys – making this a low-hassle, trouble-free property investment.
Speak to our agents today about the possibilities.