Choosing the option that is right for you 2020-09-01T04:23:36+00:00

Choosing The Option That Is Right For You

After more than fifteen years in the business, we’ve learned that not all people are alike. So we have asked our residents, their families, friends and prospective clients what would you like us to consider when moving into a retirement village?

We listened and the answer was clear. Everyone wants more choice.

This is why we now give you options for funding your retirement lifestyle, so you can choose the one that suits you.

We offer the standard ‘lease for life’ option that is available in many villages. This Standard Option allows you to defer payment of the Facilities Fee until you leave the village, when it will be paid out of your refund. You will also pay a contribution to the long-term maintenance of the village and costs associated with the refurbishment of your residence when you leave.

All village residents also contribute to the daily running cost of the village and their own outgoings.

The benefit of the Standard Option is that you defer payment of the exit fees until you decide to leave, freeing up funds to use during your retirement. It also allows you to play the property market by calculating your Facilities Fee based on the sale price of your residence when you leave, giving you a share of the capital gain.

 

We also understand that some of our residents want to know the exact amount they will pay over the lifetime of their residence. Similar to the Standard Option, the Surety Option allows you to defer payment of the Facilities Fee until you leave the village but fixes the fee based on the price you paid for your residence. You do not pay an additional long-term maintenance contribution or for refurbishment costs when you leave.

As with the Standard Option, all village residents also contribute to the daily running cost of the village and their own outgoings.

The benefit of the Surety Option is always knowing the amount that will be repaid when you leave your residence, so you can plan with confidence. And by deferring payment of your Facilities Fee, you free up funds to use during your retirement.

Some people prefer to know that they have paid for their Facilities Fee upfront and do not need to worry about it being deducted from their refund when they leave. With our Prepaid Option, you pay the Facilities Fee (20% of the purchase price of your residence) at the time of purchase. When you leave, you will pay a contribution to the long-term maintenance of the village and costs associated with the refurbishment of your residence.

Our Prepaid Option allows you to enjoy the capital gain on your residence when you leave, knowing that you have already paid your Facilities Fee upfront.

As with the above two options, all village residents also contribute to the daily running cost of the village and their own outgoings.

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