LIFE RIGHTS: The most popular retirement ownership model worldwide
Most retirees today look at selling their family home and downsizing to more manageable and secure accommodation for their retirement. The first decision is whether to simply buy a smaller home with better security or whether to look at living in a retirement community. The next choice is the kind of ownership that different retirement developments offer, typically between sectional title or life right tenure.
We believe that there is no absolute answer as to which is the better option because it involves so many different family and financial circumstances. However, we also believe that for the majority of South African middle-income retirees, the Life Right model has significant benefits to offer, most notably because acquiring a Life Right guarantees you security of tenure for the rest of your life.
It is primarily for this reason that the Life Right model is regarded to be the most progressive and leading form of retirement ownership worldwide. Although it is comparatively new, it is now the most popular model in the USA, Australia and New Zealand, where it is referred to as a ‘right of occupation’.