As their retirement approaches, many people start to think about their finances and where to invest their assets. For some, buying a second home sounds like a good option. In fact, buying your retirement home after all those years of dreaming is one of the biggest and most difficult decisions you can make. However, with careful planning, this can be a very valuable and significant option. There are some key points that you should bear in mind before buying a property: your financial situation, your source of income, your health condition and your age. Without a proper financial planning, buying a home for your retirement can prove to be a serious mistake. You have to ask yourself the right questions regarding the type of property you want to buy.
Is apartment living the right choice for after retirement?
Relatively cheaper and much easier to maintain, apartments are ideal for retirees. Besides, most apartments are found near city centres and offer caretaking and maintenance services. In fact, an apartment living can provide you with a maintenance-free lifestyle. This type of property is suitable for senior citizens. However, they should ideally be located close to shops, social and cultural services, transport and health centres. In addition, retirees often opt for quiet but not isolated apartments, located not far from main roads.
Depending on their category, apartments highly prized by retirees are those that provide common facilities such as a restaurant, a TV room, a garden, a gymnasium, a library and a swimming pool. Some of these residential complexes often offer entertainment and free or paid services such as a concierge and a spa, amongst others.
Make the right choice
Each situation is unique and calls for a thorough study of the needs of the seniors seeking for a retirement home. Still, the purchase of an apartment remains the best option that they can consider. However, the decision to buy an apartment or a house belongs solely to the retirees. Their decision will be based on their financial situation, their personal and professional situation as well as their needs.
Investing in an apartment in Mauritius: a wise choice?
A wide choice of apartments or villas is offered to you in Mauritius. These properties are often sold fully equipped. Some of them are ideally located near shopping centres and other facilities. In Mauritius, the cost of living is relatively cheaper than in Europe. You can get back the money you invest in your air tickets quickly. Moreover, living in Mauritius is like being on a never ending holiday in a paradisiacal setting and tropical climate.
Mauritius is a popular destination for retirees. In fact, the island has many assets including economic and political stability. Moreover, the Mauritian authorities have introduced a set of incentive measures to attract retirees. Enjoy the blue and sandy beaches while taking the best of what the country can offer. Many facilities are also available including well-equipped clinics and hospitals.
Are you eligible for a retired Non-citizens permit?
To be qualified as a retired resident, you should meet the following conditions:
– You must be at least 50 years of age;
– You must provide proof of annual bank transfer of $ 40,000 or 30,000 euros after which a resident permit valid for 3 years will be granted to you;
There is a simpler way to spend your retirement in Mauritius which is through the measures introduced by the Mauritian government. In fact, the acquisition of a real estate property through the Property Development Scheme (PDS) entitles you to a permanent residential permit in Mauritius. The PDS includes the Integrated Resort Scheme (IRS) and the Real Estate Scheme RES. When you buy an apartment or a villa costing more than $ 500,000 or about € 370,000 [depending on exchange rates], you and your beneficiaries can stay in Mauritius permanently.
If after a long professional career, you aspire to a peaceful retreat in Mauritius, the Evaco Group offers you a vast choice of apartments and villas under the Real Estate Scheme (RES). These prestigious properties are located in high-class residential complexes such as Clos du Littoral and Domaine des Alizées in Grand Baie. The purchase of an apartment in these complexes opens access to several services including a hotel service, free access to a Beach Club, a gym and a spa, amongst others. Should you require more information on the properties available and the services offered by the Evaco Group, all you have to do is to log on our websites.