Our Cottages

ABOUT OUR COTTAGES

Operational management is provided by St George’ Village Management Association.

 

The Scheme is fully developed and the property is not encumbered by bonds. The property is registered in the name of the Johannesburg Diocesan Trustees in trust for St George’s Home for Boys (COACH) and maintained by Grace Village Management (Pty) Ltd.

 

The Life Rights apply to the Cottages for the lifetime of an occupant and the surviving spouse. On the death of the surviving spouse, or on the surrender of the Life Rights when moving to the Care Center, 75% of the original purchase price is refundable.

 

While similar all our cottages carry their own personality and are equipped with modern luxuries such as fibre internet.

LIFE RIGHTS EXPLAINED

What is a Life Right?

 

A Life Right is a widely practiced and well recognised retirement housing model worldwide.

 

A Life Right means that you are buying the right to live in a unit – usually with your spouse or partner – for the rest of your lives, giving security of tenure for life.

Why Life Rights?

 

Over the years, Life Rights have allowed residents to purchase reasonably priced, housing with affordable levies.

Financial benefits:

  • No transfer fees
  • No registration fees
  • No sales commission
  • No VAT
  • You only insure household contents

THE PROCESS

Who is eligible?

Cottage applications, together with the payment of a non-refundable deposit of R2, 500-00, may be submitted by persons between ages of 55 and 75 years only.

Life Rights will be granted to applicants over the age of 60 and acceptable to Grace Village Management and St George’s Village Management Association.

When is the Life Right grant payable on a Cottage?

Fifteen percent of the value of the purchase price of the Life Right must be deposited on signature of the contracts.

The balance is due by latest, the date of occupation, a maximum of 3 months from date of concluding the contracts.

When is cottage available and what are the costs involved?

Cottages become available from time to time. They are suitable for single persons or couples who are able to care for themselves.

The purchase price of Life Rights for Cottages varies, depending on the size of the Cottage (ranging R1.1m – R3.2m). Monthly levies for the Cottages vary. A once-off entrance fee is required once the contract is signed and finalized.

ENQUIRE TODAY

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