Freehold Ownership
Phase 7 - Plot 92 - Plan Type 89A
- Bedrooms 2
- Bathrooms 2
- Garages 2
- Parking 2
Overview
- Erf Size 807
- House Size 276.32
Features
Gallery
Freehold Ownership
The Somerset offers the option of freehold title ownership, which is the simplest capital structure for retirees. Owners receive the title deeds and have the property registered in their own name(s). Under the Housing Development Schemes for Retired Persons Act of 1988, purchasers can be freehold owners of an erf and dwelling in a retirement village. Owners also benefit from protection under existing South African property laws.
Rates and Taxes
Under this form of ownership you are liable for:
- Rates and taxes
- Home insurance
- Internal home maintenance
- Levy of the Homeowners Association.
Levies are cost recovery mechanisms with a fixed portion and a variable portion that is dependent on the size of your property. Levies cover costs associated with common facilities and services such as catering, security, garden services and general healthcare as well as external maintenance on all properties. A Managing Agent administers the levies on behalf of the Homeowners Association. See the Levies Breakdown here.
Additional healthcare services are available in your home or at the Health Care centre.
All houses are fully compliant with the SANS energy-saving building regulations, and plans can be amended to suit your needs.
A 6-month period is generally allowed from the time of signature until completion with the plot transferring into the purchaser’s name before building to an agreed building contract, with phased progress payments.