FAQs

If you plan occupying a village home, there are some things you may want to know about the details of occupancy.

This FAQ page hopes to shed some insight into things you will want to know about your new place.

• If I move into a village, will it affect my pension?

We definitely suggest you talk to Centrelink so you can understand your position in this regard. Every circumstance is different, but a pension payment is possible if your paperwork complies and you qualify.

• What other costs can I expect other than the price of purchase?

When it comes to a lease, it’s exempt from stamp duty but you will have to consider both legal fees and application fees. Because of this, your village could offer a title on your residence and you may liable for stamp duty. The village will advise you on what costs you can expect.

• When I decide to move to the village, will I need to sell the present home I’m living in?

Most people do this simply because caring for two homes is an unnecessary hassle for most people. Not everyone needs to do this though and it really depends on how much money you have to buy into a retirement village.          Talk to a financial specialist before looking more into this type of option.

• Will I need to hire maintenance for the property? 

The village handles most of the maintenance, but when it comes to maintenance internally, you will be able to handle this on your own. Of course, this also varies from village to village, so make sure you talk with a specialist who can assist you.

• Insurance: will I need it for building insurance?

The policies for the village are covered by the village; the maintenance fee you pay covers this. You will need household contents insurance for your place in the village.

• If I have an emergency, what do I do?

Most villages have an emergency call system;  details are provided with each village.

• If I have a boat and/or caravan, can I park these at the village?

This varies with each village. In most cases for an extra fee it can be arranged to accompany extra vehicles.

• What do people desire when they move into a retirement village?

This answer is as various as the options that come with the village. Some people need more specialized home maintenance and security as they get older, and also health care is more of a vital issue with the elderly.

• How secure is the lease purchase?

We recommend a long term lease because it comes with added security. When a property is sold the capital value increases usually in order to make upgrades, but the amount that is actually retained varies.

• Is my lease accessible through the assets test?

Yes; it is treated just like if you had the title to the property. Circumstances vary for people but Centrelink can assist you if needed.

• If I do decide to change my mind after signing a contract, what happens?

This varies and should be thoroughly understood prior to signing a contract. Usually, if you cancel within 15 business days after the date of agreement and you aren’t in the unit, you may be fine but you must check this with your solicitor or the retirement village itself.

• If I have internet access and Foxtel or some similar facility, can I take it with me to my room?

Most government departments are quickly shifting access to their services via on-line. What you must now consider therefore is that if most rooms will be able to accommodate your present and future internet and I.T. needs.

• Is my pet allowed on premises?

A lot of villages allow certain types of pets such as dogs or cats but only under conditions that are deemed safe. With each village having a different set of rules, make sure you consult with staff on how to handle this issue.

• If I want to relocate, where do I get more info? 

Village staff will answer any question you have based on this subject. A Seniors Real Estate Specialist – SRES consultant can also help you find the correct information.

Call 0403 909090 or feel free to email –  CLICK HERE

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