The Somerset Lifestyle & Retirement Village

The Somerset is a luxury retirement village situated in Somerset West. It’s an elegant haven for over-50s who wish to retire in a luxurious, tranquil and secure setting where they can discover their own sense of belonging.

Here, you will never tire of the beauty, the wonder, and the richness of the surroundings. Along with a peaceful vacation-like ambience, The Somerset also meets all practical and lifestyle requirements, with friendly and professional healthcare and advanced security measures.

The Somerset is conveniently located close to all local amenities, shopping malls, excellent hospitals, golf courses, sports facilities and every manner of outdoor activity.

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.

When the property is sold, 25% of the net profit is paid into The Somerset levy stabilisation fund. The Home Owners Association (of which you will be a member) uses this fund to subsidise levy increases in times of high inflation.

Life Right Ownership
A Life Right purchase is a transaction where you and your spouse/partner, as the nominated occupants, attain the right to live in a particular apartment for the duration of your lifetime. After this point, your capital is returned with an additional profit share, depending on the options chosen.

THE NO-HASSLE OPTION

When you decide to purchase a Life Right home, you have the comfort of a secure return on investment without the hassle of having to worry about:

Rates & Taxes
Homeowners Building Insurance
External Home maintenance
Safety and security
Access to on-site health care services and facilities