Shoreline Sibaya’s new partnership creates a first-of-its-kind in the retirement industry
With construction underway, Shoreline Sibaya has officially announced a new partnership that is a first in the retirement property industry and possibly a game-changer. The team from Shoreline Sibaya are very big on listening to the markets demands and have become acutely aware of the gripes retirees have when wanting to invest in an off-plan development, when their equity is tied up in their family hom
Unfortunately, retirees are finding themselves caught in a ‘catch-22’ situation; if they sell their home to invest in a development, they will not have anywhere to live for the two years it is being constructed, and due to their age, they can’t get a bond approval. Partnering with Lombard Insurance Company Limited, who are a niche and specialised risk insurer, this problem will be a thing of the past as they offer a guaranteed solution for retirees wanting to invest in Shoreline Sibaya.
“When Shoreline Sibaya discussed their challenges with us, we were eager to get on board. We were delighted to not only be able to conceptualise a viable option, but to be the first in our industry to offer such a solution for retirees. Our solution bridges this gap in the retirement industry. By providing this solution we are able to facilitate the transaction for Shoreline Sibaya and for their interested buyers who are unable to sell their current home immediately,” explains Sarah Wright, Lombard representative.
This is a first for the retirement industry; this dynamic partnership presents an opportunity to help retirees secure their dream retirement within Shoreline Sibaya. Additionally, by utilising this service, investors will only have to sell their current home just before transfer of their new unit.
“We want to ensure investors are able to plan ahead and take the next step into retirement easily. It can be a challenge to free their money and then have to wait for the development to complete construction. This solution helps bridge that gap and gives them a fair chance to invest in unsurpassed off-plan developments, like Shoreline Sibaya,” continues Alan Beesley, Director, Carmel Properties.
Those of you who are a part of the Retire KZN community have revealed that 80% of you would want to purchase your own retirement homes, whether it be sectional title or freestanding opportunities. With existing retirement homes seeing waiting lists exceed 10 years, new off-plan retirement developments give you that foot in the door and an opportunity to secure your retirement in a new home.