TRADITIONAL old-age homes with medical care, while more affordable, are often associated with single rooms in a large institutional building, cramped living conditions, and depressing surroundings.
On the other end of the scale, there are high-end developments priced between R3 million to R4m for life rights – a price tag few can afford.
A development in the heart of Bryanston, Monarchs Senior Living, offers units priced from R490 000 for life rights or a monthly rental starting at R6 250 a month.
It caters for those who are independent and those who require assisted living or full-time care.
With 84 new individual units, Monarchs is close to medical facilities and convenient shopping. It is located on a secure 10 000-square-metre property with lush garden and optional convenient services.
Nina Gomes, the general manager, says: “Senior living incorporates so much more than medical care. A hospitality approach focuses on lifestyle support services, such as a personal admin service that can help residents with tech support and there is a wellness centre on site with a yoga studio and salon.
“We have regular shuttle services to surrounding shopping centres and a gardening service.”
Senior-living developments increasingly appeal to younger residents (aged 50 and over) who are independent, want the freedom of a lock-up-and-go, are active and seek an environment that is conducive to regular family visits.
“Our disruptive model allows seniors to be completely independent, but they can access additional services they’d like or need and only pay for what they use. For instance, each unit has its own kitchenette but there is also a catering service available if residents would prefer not to cook. They can enjoy their meals in their rooms or visit their families in a beautifully appointed bright and airy open area,” says Gomes.
“Monarchs’ residents remain in their specific unit for life. We’ll bring care services, like nursing, to your room instead of uprooting you and moving you to a frail-care facility if you require more intensive medical care.
Living in their own units also helps residents retain their dignity and independence for as long as possible and keeps costs down, with enhanced care only charged on a ransparent ‘as-you-need-it’ basis.”
Plan for senior living before you need it
There has been positive demand for units at Monarchs in Bryanston, which has 84 individual units with private patios or balconies.
A fixed, transparent monthly cost covers maintenance and the infrastructure. There is also a menu of available services, which are billed only when used. Units can be rented or purchased with a life right, allowing for financial planning with no surprises.
A life right means you pay an upfront amount and this gives you, as well as your spouse, the right to occupy and enjoy your unit for the remainder of your life. There is no transfer duty or VAT payable. Should you pass away or leave, a minimum of 70% of your original capital is returned which can be bequeathed to your heirs.
Alternatively, you can rent a unit at a fixed monthly rate.
Visit www.monarchs.co.za or call 010 065 1377