The Benefits of Fixed Fees in Retirement Villages
When it’s time to consider transitioning into a retirement village there are many factors that need to be taken into account.
Location, facilities, social opportunities, care services and security are just a handful and Elements Retirement Living boasts an impressive reputation on all these fronts.
To that list, you can add financial security.
Having worked hard to earn the retirement they deserve, our residents want certainty when it comes to their financial investment and that’s where our ‘Guaranteed Repayment Option’ can bring peace of mind.
As you may or may not be aware, upon leaving a retirement village an Exit Fee is generally payable by the departing resident based on the number of years they have lived there, with the fee typically calculated as a percentage of either the original purchase or future selling price.
We all know there is nothing like an unknown to create anxiety, let alone at a later stage of life, and that’s why Elements is offering our Guaranteed Repayment Option where we will agree to charge a fixed exit fee of $50,000.
In this offer, any capital gain or loss will accrue to Elements and this option will see us absorb all reinstatement costs payable when a resident leaves the village. What this means is that when you leave Elements, you will receive your original purchase price less a fixed Exit Fee of $50,000.
So let’s say you paid a purchase price of $550,000. When it’s time to leave, you will receive that amount less the fixed exit fee upon departure – or, in other words, $500,000*.
For many residents, the feeling of safety and comfort that comes with knowing they have the guarantee of a fixed exit fee is priceless and one we are pleased to offer to incoming residents who pay the listed selling price on our current available stock (excluding resales).
Our ‘Guaranteed Repayment Option’ is valid until 31 January 2020 and for further information, please don’t hesitate to contact one of our friendly staff at [email protected] or on 07 3119 7988.
* Less any outstanding General Services Charge, Selling Costs, Legal fees and other amounts payable by you under your Lease or the Act (if any). Refer clause 14.1 of the Village Comparison Document for more details
Disclaimer: Every effort has been made to ensure the accuracy of these particulars. No warranty can be given and interested parties must rely on their own enquiries. Please refer to the Elements Third Age Living @ Springwood Village Comparison Document for clarification.