Is there anything else you need to know from us in order to help you decide on your retirement solution? Read below for answers to some of the most commonly asked questions regarding Belvedere and our retirement villages. If you are still unsure or would like to speak to one of our friendly staff members please do not hesitate to contact us directly.
What protection do I have, should I decide to invest in a Belvedere Retirement Home?
The ACT on Housing Development Schemes for Retired Persons, Act 65 of 1988 protects your investment. The title deeds will be endorsed to comply with the requirements of the said Act, placing it under the jurisdiction and control of the legal process.
Are there any restrictions on the number of guests staying over?
The ACT stipulates that only the registered occupant(s) may reside in the unit permanently, provided that you are over 50 years of age. If you have visitors or your children want to visit you, you have to obtain permission from the Management Committee if they stay longer than 14 days.
What happens to my initial deposit?
It is paid into an interest bearing account nominated by the Trustees and will incur interest for your benefit. If the Agreement is cancelled because of non performance the deposit is repaid with any interest.
Are we allowed to make any changes to the retirement unit?
Yes, with the permission of the Developer you may make internal alterations to the unit. Alterations are restricted to a few basic changes. You need permission from the Management Committee or the Developer if you want to make changes to the exterior of your unit. The conditions of the alteration must be met.
Are there social activities at the Retirement Village?
A clubhouse is planned and will comprise of offices, dining facilities, and a kitchen. This facility will be for the use of the residents only and you will have a say in the utilization thereof.
Are we allowed to bring our pets with?
Indeed! There is a great demand for pet friendly villages and the Developer has decided to allow ONE pet per household. You will still have to comply with the rules. Special permission is to be granted by the Developer/Management Committee for a 2nd pet. Pets may not exceed a height of approximately 30 cm (fully grown adult small breed dog, cat, etc) and you can not replace them. You have to obtain permission from the Developer or the Management Committee and the pets may not be of any nuisance to the other residents. You will also need to enclose your garden to contain your pet according to specifications at your own cost.
What will happen if I develop medical problems?
Should you require urgent medical attention, the Village is five minutes drive from Wilgeheuwel Hospital with a 24 hour emergency service. We are cautious to develop an in-house frail care unit, because it will put pressure on our levies. People who are ill are being handled externally at present or nursing care can be utilized.
Is my investment secure?
Buying at Belvedere Retirement Villages is a safe way to investment. Furthermore, the title deeds will be endorsed to comply with the requirements of the Act on Housing Schemes for Retired Persons, Act 65 of 1988. You are ensured of the protection by the Judicial System.
What about maintenance?
The units consist of semi-face brick dwellings which really provide high quality finishes and low maintenance. Gardens are maintained. Should you go on holiday, you can rest assured that your garden will be cared for, lawns mowed and edges trimmed.
How do we know that we are making the right decision?
The Belvedere Group has been in this business for 20 years and has a very good track record and most definitely offers the best value for money in comparison to other Villages in the area. The benefits associated with living in a community of people of the same age group are numerous.
Will I be penalised for the wastage of electricity by other residents?
No, definitely not. The electricity of every unit is measured individually. Therefore, you only pay for your own usage.
How is the monthly Levy utilised?
It is used to pay the following services:
- 24 Hour security
- Cottage water
- Communal water
- Communal electricity
- Sewerage services
- Refuse removal
- Building Maintenance
- Garden services
- Insurance of buildings
- Management and audit fees
- Replacement reserve fund
- Rates & Taxes
Do I still have to insure the contents of my unit?
Yes, the contents of the unit as well as damage to doors, windows, electrical and electronic equipment is the responsibility of the occupant.
Are there any additional costs over and above the purchase price that I need to pay?
There are no Transfer fees payable! You have to pay a security deposit for electricity, and post boxes. Your monthly levy as well as electricity, and optional security will be your responsibility.
What investment options do I have when investing in a Belvedere Retirement Home?
Depending on your age and risk profile you can choose between two options:
This option will, on termination of the agreement, refund your initial capital amount.
- LIFERIGHT WITH PROFIT SHARING
The capital that you invest will over time grow and you will receive your initial payment (if there is growth) plus 50% of the profit of the future resale of the property.
What happens should I decide to move?
Notice must be given to the Village Manager who will inform the Developer. Arrangements will then be made in terms of your agreement to resell the retirement unit and repay what is due to you in accordance with your Agreement.
What happens if the retirement unit has any defects?
Any defect which is reported within 21 days from date of occupation will be fixed at no cost. The Developer will not be responsible for any defects on variations done by external contractors. Defects reported after the 21 days will be for the account of the resident and will be regarded as maintenance.
How often will the levies be increased and by what amount?
Increases of municipal services such as electricity, water, sewerage etc. is usually the only factor which may require an annual increase in levies over and above annual inflation.
What is the Security within the Retirement Village?
Every unit will have security doors at the front and back door, cottage pane windows with burglar bars and an alarm system for your security. A 1.8m brick wall with an electric fence on top surrounds the village. This electrical fence will be monitored by a security company. There will also be security lighting and automated security gates to provide the peace of mind you would expect from a village such as ours.
Could my children or a 3rd party assist me financially?
If a third party, for example your children, wish to assist you financially, the agreement can be drafted in such a way that these funds can be paid directly to them at termination of the agreement.