THE SUSAN DEACON PROPERTY GROUP’S RETIREMENT PROPERTY

INVESTMENT GUIDE

PART 1 – 8

Susan Deacon Properties The Susan Deacon Property Group retirement investment portfolio and guide to investing in retirement property. http://www.sdpretirement.co.za/

TYPES OF RETIREMENT PROPERTY Retirement villages are aimed at those who either own existing homes or have other funds to finance the purchase. Remember, the purchase is usually on a cash basis as the banks are reluctant to provide bonds to anyone over 60 years of age. When you buy into a retirement scheme the legal method of ownership is a critical factor: it is advisable for all documentation to be approved by an attorney, as mistakes are likely to prove costly at a time when you are living on a fixed income. Further considerations include whether the property will be in your name or, for example, a trust. This will depend on your financial situation and will include factors such as the projected impact of Death Duty and Capital Gains Tax. In order to obtain qualified and professional advice it is imperative to consult a financial advisor who understands and focuses on this market. Basically there are three methods of buying a home: 1. Sectional Title This is a straightforward system with which most people are familiar. Registration of the

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unit is done through the Deeds Office by a conveyancer and fairly substantial costs are involved, including transfer duty and conveyancing costs. 2. Share Block Scheme This provides the owners of shares in a company with the right of occupation to certain portions of a building. The company owns the building and shares are allocated into Share Blocks. The Share Block resident therefore owns shares in a company. Minimal costs are involved. 3. Life Rights or Occupation Rights These rights give you the right to occupy a particular cottage or apartment for the rest of your life, and fall under the Housing Development Scheme for Retired Persons Act. No legal costs are involved. In all three of the above-mentioned schemes it is vital to understand the implications of the documents you will be signing. Ask for the latest balance sheet and other relevant information. If you find this confusing, it is best to seek advice. New Developments Ensure that the developer or controlling body is financially strong and healthy, and insist on having all documents a few days before you sign them. If necessary take them to either an attorney, accountant or financial advisor. Watch out for the following: * Are you and your spouse or partner both signing the agreement? If not, on the death of one party, what happens to the surviving partner? * If you are relying on the cash for the new property coming from the sale of your present home, have you made the purchase dependent on the sale of your home? If you don't you may end up owning two properties! * Have you given yourself at least 60 days to accomplish this? * Are there any costs on signature, such as administration fee or deposit? If so, who holds these monies? They should be going into a Trust Account. * Is the date of right of occupation clearly stated? When buying off plan or during construction consider the following:- * Who is the developer? * What facilities have been promised: club house, frail care unit etc. * What time limit has been promised for completion?

* Who will manage the complex? * An estimate for a period of two years in advance of any levy to be paid must be provided. * Is the land to be developed encumbered by a mortgage bond? If so, who is the bond holder? * Have you read the 'use and occupation agreement' or the house rules? * Is the present levy clearly stated and the date of annual increase? * Are monies retained on re-sale of the unit? If so, how much? * What happens on the death of a surviving spouse? * And finally, are you sure as to whether you are buying life, occupation rights, Share Block or Sectional Title? This is the time to ask all the questions, clarify any assumptions and ensure that you get 'exact' answers. For example, exactly how much, exactly when, exactly who and exactly how. If promises are made, have them written into the sale agreement. The Susan Deacon Property Group http://www.susandeacon.co.za/

DON’TS IN RETIREMENT PLANNING The following are a few words of warning as you go through the decisions and process of moving: Granny Flats Think twice before investing money in a granny flat on someone else's property, as you will have no legal claim if the property is sold and you could lose everything. Also, it is not always easy for three generations to live together. Loneliness can be a factor; the children are at school, the adults are working and you could find yourself alone from morning till night. Downsize Don't try to replace your home when looking for a retirement complex. Remember you are buying a way of life, not just bricks and cement. Downsize gracefully into an affordable village with a reasonable levy and a caring management. It won't be easy, but you will have to be firm about disposing of any possessions that simply won't fit into, or won't go with, your new home. Have fun giving away unnecessary items to family, friends and charity, or send them to an auction house. The golden rule of down

sizing is 'cut the clutter'. Finances Don't forget to include the cost of moving in your financial plan. This includes furniture removers, increased deposits on electricity and water accounts (if required), insurance for goods in transit, new curtains or alterations to old ones, buying remote control devices for the complex, and so on. Don't Leave It Too Late You are now in your eighties, alone, frail and you've just had a bad fall. You no longer medically qualify for a retirement complex and you and your family wish you had made the move years ago! Someone now has the burden of having to find an old age home, not a retirement complex, that will admit you. Keep in mind that frail care beds are in short supply, and frail care beds in retirement villages go firstly to the people who live in these communities. In other words, you may very well find yourself in a home that in all likelihood would not have been your first choice! Selling Privately Selling your property privately without the services of an estate agent may seem a good idea at first, especially when you think of the commission you will save! Remember though, without an agent vetting the buyer, you are inviting total strangers into your house and could be placing yourself at great risk. The Susan Deacon Property Group will guide you every step of the way to secure and invest in your retirement. In conclusion, remember that the younger you are when moving to a retirement complex, the easier it will be to settle down, make new friends and become part of a caring and supportive community. There may well come a time when you'll be grateful for this help. Marcel Deacon - CEO The Susan Deacon Property Group http://www.susandeacon.co.za/

Glen Haven Retirement Estate your lifestyle in a secure estate close to all amenities. On offer via the Susan Deacon Property Group - http://www.glenhaven.co.za/ THE FIRST STEPS TO RETIREMENT PROPERTY - PART 3 To ensure that you choose the retirement complex that suits your requirements and your lifestyle it's wise to follow some basic guidelines: Work out your finances very carefully. As a rough guide, after you have paid for your retirement home, your after tax monthly income should be four times the levy, after all deductions, including medical aid. If in doubt, discuss your financial situation with your bank manager, accountant or financial advisor.

* Discuss the pros and cons not only with your spouse but also with other members of the family. Their advice and support at this time can be very helpful. * As a general rule, the older you are, the closer to your known environment you should stay. It's no fun trying to find your way around a totally new neighbourhood when you are in your seventies, not to mention changing your doctor, dentist or bowling club. * Also, if you want to see your family and friends as often as possible, it would hardly be fair to move some distance away and still expect them to visit regularly. * Ensure that your lifestyle will fit into your new environment. If you're a bingo and darts lover, will you fit in with the bridge and country club set, and vice versa? * Decide on what type of accommodation will suit you: hotel type, a flat or garden cottage. * For friendly advice visit friends living in retirement communities, and listen to what they have to say. * Look on this as a new, exciting phase in your life. Remember that you have to want to move. If you are doing everything under duress, this will put a lot of strain on you and your family and you are not going to make a happy transition into a new way of life. * Contact an estate agent specialising in retirement communities. They are sympathetic, mature individuals and do have your best interests at heart. * Have your present property valued by three different estate agencies. This will help you to assess how much you can afford to spend on your new home. Don't forget the costs of borer free and electrical compliance certificates. NB: DO NOT SELL BEFORE YOU HAVE SECURED YOUR RETIREMENT HOME Remember, property prices are seldom stable. If you had your present home valued a few years ago, you will probably find that it has increased in value. Do NOT rely on neighbours or friends to 'help' in valuing your home and securing a buyer, for they may have ulterior motives. The estate agent with the most 'SOLD' boards in your area is the person you want to deal with. A word of caution - it is unwise to spend all the money from the sale of your old property on your retirement home. Rather spend less and downsize. Invest the excess cash for your future financial security. Marcel Deacon CEO - The Susan Deacon Property Group http://www.susandeacon.co.za/

RETIREMENT PROPERTY ACCOMMODATION TYPES - PART 4 Accommodation varies tremendously from area to area but the same real estate rules apply... the more upmarket the area, the more expensive the complex. Remember that land is costly, so cottages with gardens tend to be in the suburbs or further away from towns, so don't try to find a cottage at a reasonable price in the middle of Durban's Berea, next to Sandton City or with sea views at Sea Point! Be reasonable in your expectations. The bottom line is how much you can afford to spend now, pay for all expenses and allow for levy and cost of living increases? It is better to buy cheaper and sleep at night, than to buy upmarket and spend your time worrying. Do Your Sums As a very approximate guide your monthly income should be four times the levy: if your levy includes meals then three times the levy may be sufficient. Make allowances for medical aid increases. Remember though that this is just a guide. If in doubt, consult your bank manager, accountant or financial adviser. Different Types of Accommodation Generally there are three types of retirement complexes offered for sale. Hotel Type These vary from basic bedsitters with shared bathrooms to luxury suites, but they have one thing in common - no kitchens! They may allow kettles, toasters, microwaves and a bar fridge, but definitely no stove. This means that you will have to pay for at least one or more meals a day whether you want them or not. You will have to decide whether the convenience of not having to shop for and prepare your own meals is outweighed by the fact of having to go to a dining room at set times every day. Also, you may be paying for a lot of food that you don't actually want. Lastly, the monotony factor must be taken into account. Nevertheless, this appeals to many retirees. Flats/Apartment Blocks These are very popular, as they are usually situated close to all amenities and on bus routes. It is just like living in an ordinary Sectional Title development, except that you have the security and companionship of a retirement complex. A communal lounge and dining room with optional meals would be desirable and an emergency call system. Garden Cottages or Town Houses Because of the cost of the land, these are usually situated away from busy centres. If they are conveniently placed near facilities such as shopping malls they tend to be more expensive. If you have a beloved pet, then this type of accommodation is for you, as pets are seldom allowed in units that do not have private gardens.

Obviously, town houses must be all on one level, as this is not the time to buy a duplex! For those moving from a house, the garden cottage is a logical step. Check on transport arrangements: if the complex doesn't have its own facilities how will you manage when you no longer want to drive? The above options all have their own distinct advantages and disadvantages. When all is said and done though, the final decision is yours. Try to be as sure as you can that it is an informed one. The Complex What to ask and what to look for. First Impressions *Are there secure gates? Is there a security guard on duty? Are they on duty 24 hours a day 7 days a week? * Are there intercoms to individual units? Is the manager or someone on call? * Is the entire property secure and fenced? If possible, walk around it. * Is the overall appearance one of a place that is well kept, neat and tidy? * Are the driveways well maintained and well lit? * Have all the stop signs and road markings been clearly defined? * Are the gardens neat and cared for, with mown lawns, and flower beds, trees and shrubs pruned and healthy? * Is there a standard for alterations and additions to individual units, such as fencing for pets, awnings and blinds? Are these uniform and in keeping with the rest of the complex? Club House / Community Centre * Does the club house or community centre have its own manager and if so who is he /she answerable to? * What facilities are provided? These could include daily activities, from exercise routines to bingo, carpet bowls, talks and computer classes. Ask to see a daily program, if available. * Is it within walking distance from the unit? If not, is some sort of transport available for residents, such as golf carts? Communal Lounge / TV Room * Is it well furnished? Is a TV available with M-Net, DSTV? May friends or relatives be entertained there? Dining Room * Is it bright and cheerful, conducive to good conversation and pleasant company? * Is there a separate frail care dining facility?

* Are frail care patients admitted to the dining room? This can be trying for relatively fit and healthy people. Meals * Are meals cooked on the premises? If so, is the kitchen clean and well equipped? * Are any meals compulsory? * What costs are involved? * Ask to look at a week's sample menu. Sport & Recreational Facilities * If available, are additional fees charged for the use of the facilities? * Who is responsible for the care of swimming pools, bowling greens etc? A designated manager or a volunteer committee made up of residents? * Who pays for the upkeep of these facilities? If included in the levy you may very well be paying for something you never use. TV Antenna * Are these provided? * If M-Net and DSTV aerials are provided is this optional or included in the levy? Management Structure / Staff * Does the manager reside on the property, and if not, who is in charge in his absence? * Are the staff helpful, considerate and smiling? * Are the domestic and garden staff neat, clean and cheerful? * Who is the manager answerable to? Services Services provided could include: * Garden service, which includes lawn mowing, pruning of trees and shrubs, maintenance of flower beds. * Servicing of individual units. * Window cleaning. Are they included in the levy? If not, what are the charges? Security * The perimeter fencing should be secured with either razor wire or electric fencing. * Video cameras and infra red beams are additional measures. * Security guards on the gates and patrolling the fences are a very expensive alternative: remember your levy will reflect the cost of security. * How are visitors screened? Is there an intercom from the unit to the security gates? * Does each unit have burglar guards on the windows and security gates on all doors?

* Panic buttons or telephone alert systems are a must. If you can't rely on someone rushing to help you in the event of an emergency 24 hours a day, then you might as well buy into any ordinary development. Frail Care / Clinic * Are frail care facilities available on the property? If not, what happens should you require such care? * Ask to be shown around the frail care premises. What costs are involved? * If no frail care is provided, is there a nurse on call for the community? * Is there a clinic where weekly blood pressure, medication and general health care checks are provided? * Ask whether any portion of the levy is allocated to frail care (if provided). You may be paying quite heavily for a facility you may never use. Transport * If the complex is off the bus route, what measures are in place to transport residents to shopping malls and medical appointments? * What costs are involved? Committies * A well run complex should have various committees in place, for example gardening, entertainment, sport, bridge, bowls and bingo, as well as educational classes such as basic computer instruction (mainly for e-mailing children and grandchildren) and U3A courses (University of the Third Age). * A monthly newsletter is an added advantage. House Rules * Ask for a copy, as this will give you some insight into the community you could be moving into. The Residents * Last but not least, chat to the people who live in the complex: more than anything else, this will tell you whether or not it's the right place for you. The Unit Whether you decide on a room, a flat or a cottage, keep an eye out for a few basic requirements that could make your life easier in the future: *If there are any stairs they should have a guide rail. The complex should be wheelchair friendly, making all units and facilities easily accessible for walkers and wheelchairs.

* If the complex has more than one floor, a lift is essential. * Is the unit fully fitted with burglar guards and a security gate? * How are visitors screened? Is there an intercom from the unit to the security gates? * Does the unit have an emergency button or some method of summoning help if needed? The Bathroom Check for the following: * If floors are non-slip, including the shower. * The shower cubicle should have a fold up seat and hand held shower. * The toilet should be built up between six and eight centimetres higher than average so that it is easier to sit down in the event of knee, hip or back problems, and a grip handle should be easily accessible. * The bath should be lower than usual and there should be grip handles. * An emergency button should be placed near the toilet and bath. * The bathroom should be wheelchair friendly, as should all doors and pathways. Electrical & Maintenance * Are electrical plugs positioned at a convenient height from the floor? * Do you know where the electricity board and geyser are? * Is there someone on site who is responsible for minor maintenance, and is a handyman available in the complex? Marcel Deacon CEO - The Susan Deacon Property Group http://www.susandeacon.co.za/ RETIREMENT PROPERTY BACKGROUD – PART 5 In South Africa we are fortunate in that there are over 1 000 retirement communities countrywide, ranging from very modest to very luxurious, giving a potential buyer the opportunity to make an appropriate choice. Retirement complexes are a relatively new concept in this country. Previously, elderly people spent their retirement years in: * Old age homes where the majority of the residents were in need of assisted living or full frail care. Government subsidies were freely available for this type of facility. * Their own homes. * Sub-economic housing schemes provided by the Government or charity organisations. * Families were able to take care of their elderly and 'granny flats' became popular. By the early eighties crime became a factor to be reckoned with and a huge need arose

for accommodation for retirees that was not strictly an old age home, but provided them with a secure and comfortable standard of living where they could live out their remaining years in peace and harmony and where medical and frail care facilities were close at hand. Property developers gradually began recognising this, and by the mideighties large-scale developments, which were often sold out before the first brick was laid, were taking place. Unfortunately, unscrupulous developers were able to take advantage of this situation, promising that facilities such as frail care, sports and community centres would be built at a later stage. Often though, this did not happen, resulting in considerable loss and inconvenience to the owners. These scandals, in which some retired people lost all their savings, eventually led to the Government passing the Housing Development Schemes for Retired Persons Act 65 of 1988 and amendment number 70 of 1990. This meant that senior citizens could now buy into a retirement community and know that they had the full protection of the Government behind them. Other acts such as The Sectional Titles Act No. 95 of 1986, Share Holdings Act No. 59 of 1980, Aged Persons Act No. 81 of 1967 and as amended Act No. 100 of 1998 have all contributed to the financial security of buying into a retirement complex. HOW IT WAS STARTED The concept was started by Lesley McAlpine who trained as a nursing sisiter at Addington Hospital in Durban.After working in various hospitals in South Africa and overseas, she returned home and made a career switch from nursing sister to estate agent. She began specialising in selling retirement homes in 1998 and soon realised, to her astonishment, that there was no complete list of retirement complexes in the Durban area. In fact, further investigations revealed that there was no complete list anywhere in the country! She began compiling a list, which rapidly grew into a mammoth task. To assist her in her task of obtaining the necessary information, Vilma Jorgensen joined the team in August 2001. It is largely due to Vilma's sterling efforts that there is now, after 5 years of dedicated work, a comprehensive list of retirement complexes, old age homes and frail care establishments in South Africa. The list is 'almost complete' because this is a very dynamic market: some of the establishments may have slipped through the net and there are new ones opening every month. During this time Lesley also realised that there was no information available to assist retirees in choosing the right type of complex for their individual situation. This online

guide is a tool to help you make the right choice for your needs. Marcel Deacon - Director The Susan Deacon Property Group http://www.susandeacon.co.za/ RETIREMENT PROPERTY GUIDE PART 6 You've made your decision, and you've bought your retirement home. Now what? Sell privately, or go through an agent? You are feeling overwhelmed by the thought of packing, worried in case you've decided on the wrong place, unsure of how to go about selling your home. Decisions… and more decisions! Remember, property prices are seldom stable: they fluctuate. At the moment they are flat. Do NOT rely on neighbours or friends to 'help' in valuing your home and securing a buyer as they may have ulterior motives. Your first, and all-important step is to take a deep breath, sit down with a cup of tea, and decide whether you are going to sell privately or use the services of an estate agent. NB: Do not put your home on the market without securing your next property. The property market fluctuates from time to time, so it is advisable to be really sure of the market value of your property NOW, not what it was, or what you think it should be. Selling Privately The option of selling your property privately, without the services of an estate agent, may seem a good idea. After all, think of the commission you'll save! But remember though that without an agent vetting the buyer, you are inviting total strangers into your home and could be putting yourself at great risk. However, if you do go ahead and sell privately it is strongly advisable to take the following precautions: * Never reveal to strangers that you live alone; * Never make appointments for people you don't know to view your property when you are alone - ask a relative or friendly neighbour to be present; * Don't not reveal any details about your security measures. Using an Estate Agent If you decide to use an estate agent choose one carefully. Ask friends for recommendations then 'interview' at least three estate agencies that operate in your area, which will provide you with three different valuations of your property. The middle valuation is usually the one to go with. It is important to trust the agent or agents you select. The estate agent with the most 'SOLD' boards in your area is the person you

want to deal with, and should preferably be a member of the Institute of Estate Agents. Avoid being pushed into hasty decisions on matters such as 'sole agency', and negotiate their commission upfront. Your agent is going to play a crucial role in the sale of your property and must always have your best interests at heart. A Realistic Approach The buyer's first impressions of your home are very important. You are inviting them into your home and expecting them to spend a lot of money, so make sure that they want to see more of your property from the moment they set eyes on it. Try to view your home through the buyer's eyes. After living in a house for a long time it is easy to overlook any slight defects that you are used to living with and probably don't even notice anymore. For example, a crack in the wall, broken fence post, faded roof or sagging gutter may be minor problems, but will nevertheless make their first impressions negative. Small, inexpensive repairs may make a big difference. Ask a trusted and honest friend for their input, for they will see the flaws you don't. If you want to sell the property within a reasonable period of time it is crucial that you do NOT overprice your property. Do your homework and see which properties have been sold in your area and what they were priced at. Visit show houses in the area, critically evaluate their prices and what they are offering (how much a home has to offer?) and compare it to your property. Remember that your house has to be seen to be sold. Be available to show your home. A property often looks better at night if the interior is well lit and there are lights in the garden. Make sure that you have complete trust in your estate agent. For example, it is up to him or her not to waste your time with people who are 'just looking'. Smart Seller Strategies Following these principles will help you to save time and money, minimise stress, and make it easier for you to get the right price for your property. Get packing Neat and tidy is the rule of the day. Start packing non-essential items early, this may mean sentimental articles such as grandchildren's paintings, a vast display of family photographs, odd bits of china etc. Avoid Confusion Specify exactly which items will be included in the sale, for example T.V. aerials, air

conditioners, pool equipment and so on. In addition let your agent know if there are any items you would like to sell. Pets Lock up dogs when the client arrives. Not everyone loves animals and a yapping pet can be distracting and downright annoying. Property Odours Be aware of, and eliminate, any unpleasant odour. This includes drains, compost heaps and pets. Smelly carpets that reek of cats or dogs or an unpleasant smell will have prospective clients heading for the door, rather than staying to see more. To give your home added appeal, you can't go wrong with the inviting aroma of freshly baked bread or brewed coffee. Exterior Exterior paintwork should be in perfect condition. If necessary, consider the added value of a touch up coat, and repair any cracks in the plaster or paint. Garden Trim hedges, lawns and shrubbery. In season, try and have the flowers in the garden in bloom. Have fences, driveways and pathways repaired if necessary, and sweep up and clear leaves. Garage See that it is tidy and clean. A garage sale is a good way of disposing of unwanted items, or you could donate them to a deserving cause. Swimming Pool If you have a pool ensure that the water is sparkling clean and clear and the surface free of leaves. Interior Even the humblest home will sell if it's spotlessly clean. Enlist the help of your domestic helper, or hire a cleaning service to clean your home from top to bottom, including the tops of doors, cupboards, curtain rails, skirting boards, surfaces, as well as light fittings, windows, stoves and behind appliances such as fridge, washing machine and dishwasher. Keep rooms sunny and bright. Open curtains, roll up blinds, turn on the lights and leave lamps on in dark corners… yes, even during the day! Place bowls of fresh flowers where you can, as they will both brighten up the home and help to make it smell fresh and fragrant. Windows and mirrors should be shining and clean. Wash curtains and steam-clean carpets and upholstery. Check any

blinds and, if necessary, have them repaired and cleaned. Attend to anything around the home in need of fixing or repairing, such as dripping taps, loose doorknobs and handles, stuck drawers, warped cabinet doors and squeaking doors. Bathrooms and Kitchen These are probably the two most important areas of the house. as they not only have a major impact on a potential buyer, but can actually make the sale. With these points in mind, pay special attention to them. Use airfresheners, keep kitchen tops clear, and clear surfaces by putting away as many items as you can, like toasters, electric can openers, bread bins etc. Have a pretty set of towels with a matching bath mat ready to put in place in the bathroom before clients arrive. Ask a friend or family member to give you an honest opinion of their overall impression of your home and whether they have any suggestions. It may be difficult for you to make an objective assessment as you have probably grown accustomed to the way things are. A New Beginning Your first step after selling your home is to start filing the following documents in a new file: 1. Deed of Sale/Offer to Purchase Guard this document carefully, but keep it handy for easy reference. Your deed of sale will stipulate the following: * Your name and the buyer's name. * The selling price. * If subject to the granting of a bond the deed of sale must state the amount of the bond and the time allowed to obtain it . * Any other suspensive conditions must be in writing. For example, subject to the successful conclusion of the sale of the buyer's property. * The name of the conveyancer: in KwaZulu-Natal they are generally appointed by the seller. 2. Borer free certificate. 3. Electrical compliance certificate. 4. Both the seller and the buyer need the following documents (where applicable):- * Antenuptial contract; * Identity documents; * Marriage certificate; * Final divorce papers; * Death certificate if either partner is deceased; * If being purchased by a company, company registration documents with the required

resolutions, or if by a trust, trust deed with the required resolutions; * The Title Deeds of the property. As soon as the conveyancer has received all the necessary documentation he can attend to the actual transfer of the property. He will ensure that all the suspensive conditions have been fulfilled and then deal with the transfer of the property and registration in the Deeds Office. This may be a long and complicated process, so the buyer and seller should do whatever they can do to expedite matters. * Both buyer and seller must sign all documents when required to do so by the conveyancer. * The conveyancer will apply for rates/levy and water clearance certificates. * The conveyancer receives the Title Deed from the seller or his bank and will now draw up the transfer documents and arrange for their signature. When the documents have been signed by the purchaser and seller and the purchaser has paid the costs and made provisions for the payment of the purchase price, the conveyancer can proceed with the registration of property. * All the documents will be sent to the Deeds Office - this is a Government registry of all fixed property and rights in fixed property. The examiners in the Deeds Office look carefully through the documents to ensure that they comply with all relevant legislation and regulations. As soon as they are satisfied, they inform the conveyancer that the transaction is ready for registration, and the property is registered in the purchaser's name in the presence of the conveyancer and Registrar of Deeds. The purchaser is now the lawful owner of the property, and the title deed is sent to the bond holder if a bond has been registered. If there are no delays the entire process generally takes between eight and 10 weeks. In Order to avoid delays ensure that: * Both you and the buyer have all the necessary documentation. * You consult a conveyancer that has been recommended to you as being quick and efficient. * The conveyancer has your telephone/cell numbers and those of the buyer. * Sign documents immediately when asked to do so. * Rates, levies, electricity and water accounts are fully paid up. * Should you grow frustrated with delays, just remind yourself that the South African land registration system is regarded as one of the best in the world. * Selling your home can be a somewhat rocky road, but hopefully the information in this book will help you to avoid any obstacles along the way, and ensure that your journey is as stress-free and successful as possible. Time to Move Moving from one home to another can be a traumatic experience no matter your age, and uprooting your life is even more difficult later on in life. In fact, it has been said that moving can be compared to a death or a divorce. Knowing this, it is important to

try to make the move as easy as possible for yourself. The secret is planning: make sure that you have planned every aspect and you'll be surprised how much easier the process is. The Three 'P'S’ The letter 'P' is the key to success. You'll find it in Planning, Preparation and Patience. Before you set out on your journey, take a deep breath, set some time aside and compile a checklist. These are the ‘must-do’s’ you need to include: 1. Change of Address Complete the checklist that you will find at the end of this section. 2. Book the Removers Choose carefully and base your choice on recommendations from friends and relatives. Obtain quotes from three companies at least six weeks before you move. Remember, mid-month rates are generally lower than they are at monthend. 3. Insurance Advise your insurance company of your move so that you are covered intransit and at your new home. 4. Packing If you are able to do some of your own packing, stock up with some clean, strong containers which you can collect from your local supermarket, friends and relatives. Remember to number the containers and keep a list of the contents with the number of the container at the top of the list. Don't indicate the contents on the outside of the boxes and don't make them too heavy (maximum 30kgs). Caution: Don't pack jewellery, documents or other valuables: take them with you. 5. Household utilities Transfer your electricity, water and telephone accounts on the date that suits you. If you are moving from one neighbourhood to another in the same municipal area this can probably be done over the phone. Remember that there may be extra deposits to pay. Arrange to have meters checked on moving day. 6. Pets If you are moving to a garden complex, the area for your pet needs to be adequately fenced. On moving day have pet food, clean water and a quiet spot ready in your new home Dogs and cats have a strong association with the smells of the furniture and

carpets that they know. If you introduce them to their new home with 'their' furniture and carpets already in place they'll soon settle down. 7. Setting up your new home Arrange for keys and remote controls for your new home. Prior to moving, check on curtain tracks, hooks, globes, plugs, connections for the washing machine and dishwasher and so on. If any changes or repairs are needed, arrange for your plumber or electrician to see to them. You will need a basic tool kit containing items such as screwdrivers, pliers, hammer, picture hooks, insulation tape and plugs. 8. First Aid Kit On moving day have a first aid kit handy stocked with basics like analgesics, adhesive plasters, cotton wool and antiseptic. Finally, don't forget your own essential 'comfort station': a box or basket packed with a kettle, tea or coffee, sugar, milk and your favourite biscuits, mugs and teaspoons. You may also want to include your favourite tipple! And don't forget a hand towel, soap and toilet paper. 9. TV & DSTV aerials If these are not inside your new home, arrange for them to be installed. 10. Your Old Home If you're currently renting a property, give notice (this is generally one calendar month but will be subject to the rental agreement). Clearly label all keys. Leave all remote controls and house and cupboard keys in a secure place. A nice gesture is to leave a card for your buyers welcoming them to their new home. Make sure that they have your new address and phone number. Contact them a few days after they have moved in to ensure that they know how everything works and where they can find everything. Marcel Deacon - Director The Susan Deacon Property Group http://www.susandeacon.co.za/ RETIREMENT PROPERTY GUIDE – PART 7

Although you will initially be busy organising your new home, it is important to start finding your way about your new neighbourhood and becoming a part of the community. Ask questions, and you will find that people will be only too willing to help you. Your neighbours can inform you about community matters and what you need to know about the 'local customs'. It pays to be as active as possible as soon as possible. Here are some ideas: * Look for social groups with whom you have common interests, for example, bridge, gardening or community work. * Join your local church or religious institution as this is a great way of meeting people.

* Have a look at the local telephone directory or yellow pages, and pop into the visitors' bureau or any other information service. * The local library and historical societies will be able to inform you about activities and places of interest, and the local newspaper generally features a weekly 'what's on' column too. * Programs of upcoming events are also available from music societies, theatres, recreational parks and the Municipality. Find the ones that interest you and start filling your social calendar. Invite other people with common interests to join you. * Be the community catalyst. People often intend doing things but 'just never seem to get around to it'. Marcel Deacon - CEO The Susan Deacon Property Group http://www.susandeacon.co.za/ RETIREMENT PROPERTY CASE STUDY AND CONCLUSION – PART 8

1. Mr and Mrs B. are in their 80's; they lived in a flat on the 2nd floor, with no lift. In spite of entreaties from their family who were emigrating, they refused to leave their home. The family had no sooner left than Mr B. had a major stroke, with speech loss and partial paralysis. Their age and his health precluded them from most retirement homes, and the ones that would take them had 3 - 5 year waiting lists. Result - Mr B. is in an assisted care facility at R6000pm, Mrs B. was forced to sell the flat to pay for medical costs and future expenses. She is renting a studio flat near the frail care facility as she doesn't drive. If they had moved to a retirement home in their 70's, Mrs B. would have been secure in a suitable environment, have the comfort and support of a caring community and be able to visit her husband easily. 2. Mr and Mrs S, both late 60's, have a very nice home. They looked at moving to an "over 50's" development, but decided they were still too young, and loved their large garden and 3 dogs. Mr S. died suddenly, and Mrs S. now has to: a) Wait for the estate to be wound up and the house to be transferred into her name. b) Sell their home - pack up on her own. c) Look for suitable accommodation alone. In the meantime she is lonely, unsafe and responsible for the maintenance and upkeep of a large house and garden. 3. Mr and Mrs H. are in their early 80's and for years have resisted attempts by their family to encourage them to move to a safer environment. One day the unthinkable happened and they were attacked in their home of over 40 years. He was pistol whipped and beaten, she was raped and left for dead. They were hospitalised for months and when discharged, their family placed them in an old age home that would not have been their first choice, but was the only one available. Due to the attack, they are both now frail and dependent on their family to make critical choices for them. They have lost all their independence.

4. Mr and Mrs Y. are active, intelligent individuals in their mid 70's. Having bought a simplex townhouse, they lead a very comfortable life. Unfortunately, Mrs Y. develops Alzheimer's. Mr Y's days are now confined to the house as he doesn't leave her alone. He eventually has to hire a night nurse, and finds that his days are not only onerous, but very lonely. Unfortunately, no retirement complex will take them as a couple because of her Alzheimers. If they had only moved much earlier, Mr Y. would have had the support and help of a caring community and Mrs Y would be in frail care nearby. 5. Mrs J., age 68, has a 38 year old son, Neil, who is married to a New Zealand girl, and they have two children. Mrs J. invests R250,000 in her sons property and builds a granny cottage. Neil is tragically killed and his wife, who inherits everything, decides to move back to New Zealand. Mrs J. has no legal claim to any proceeds from her sons estate, and her daughter-in-law tells her to view the R250,000 as a donation towards her grandchildrens' education. Mrs J. is left with her pension of R2,200 per month, her possessions, and no home or financial resources. She has not only lost her son, but also her home and her money. 6. Mr and Mrs K. move from the East Rand to Westville to be close to their son and daughter, and their grandchildren. Both in their 70's, they build a granny cottage on their daughter's property. 18 months later their son emigrates and their daughter gets divorced. They and their daughter now discover that her ex-husband is bankrupt and the bank repossesses the property as the bond hasn't be paid for months. Mr and Mrs K. lose everything. 7. Mr and Mrs C., in their late 60's, sell their large family home at a reduced price to their son on condition that they can live in the granny flat. After a few years they start realising that they actually have no life of their own and all their activities are centred around fetching grandchildren from school, running them to ballet, drama, extra maths etc. whilst their son and daughter-in-law concentrate on their careers. Weekends are spent either house sitting the animals or babysitting the kids. Mr and Mrs C. are fed up, but are locked into the agreement as the cash they received from the sale they have spent unwisely. They face an unhappy future and are worried about what will happen when they are no longer useful to their family. 8. Mrs D., in her early 60's and recently widowed, is persuaded by her family to make her home with her divorced daughter and two grandchildren. She moves in, and shortly thereafter, the domestic leaves, and to help out she undertakes a few chores. Before long she is doing all the housework, cooking, washing, ironing etc. Mrs D. has the courage to say "Enough" and leaves, not without a bitter family argument. CONCLUSION Please remember that this is just a guide to buying a retirement property. Hopefully, you started making financial provisions for your retirement years a longtime ago. If you've neglected to do this, then you need urgent assistance from someone who is experienced in this field. This is not a good time to accept advice from neighbours and friends.

But whatever happens do not lose hope. There are always opportunities for creative, experienced minds. Don't forget that Colonel Saunders started KFC when he retired at age 63! If you haven't looked after yourself physically, it's not too late to make some meaningful lifestyle changes. Unfortunately, the chances are that some of your medical problems will persist. What you can change, however, is your mental attitude! Look forward with enthusiasm to moving to a retirement community, open your mind to new ideas, new friends, new experiences. Don't be afraid of change, embrace it and enjoy it. Be determined that this is going to be the beginning of the most exciting phase of your life so far. You will now be able to enjoy all those things you never had time for before, like hobbies, charity work, spending time with your grandchildren, holidays, taking a part time job or volunteering; apply your knowledge and skills, and give back to society a little of what you have received. Attend study courses for non-degree purposes, or better still get that degree. UNISA graduation ceremonies are enough proof of the intellectual capabilities of the older generation. You can also Join The University of the Third Age (U3A). Many 70-year-olds look and act like as though they are in their sixties. Learn to use a computer, or ask your grandchildren to teach you. They will be thrilled to show granny or grandpa their skills (be prepared for some teasing!) and maybe you will learn how to e-mail your overseas loved ones. The world we live in today is either frightening and intimidating or exciting and stimulating, the choice is yours. So go ahead, choose your retirement home and enjoy your new lifestyle and your hard earned rewards of a life-time of hard work. Contact the Susan Deacon Property Group today to assist you with your retirement property investment. We have been involved in the industry for over 25 years. Marcel Deacon - CEO http://www.sdpretirement.co.za/ The Susan Deacon Property Group http://www.susandeacon.co.za/