Retirement Living Options
Fees and charges The costs associated with living in a retirement village are not the same as owning your home.
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here are several charges and fees associated with living in a retirement village and all payments made before, during and after living in a retirement village must be specified in the residence contract. Each community has its own set of costs, so it is important you are provided with the full details of all applicable charges and what these costs cover. Consulting a financial advisor, accountant or lawyer to assist you in making an informed decision before entering into any agreement, is recommended.
There are three types of costs involved which include the entry fee or purchase price, the service or maintenance fees, and exit fees, also known as a ‘departure’ or ‘deferred management’ fee. If there is any part of the contract you don’t understand, don’t be afraid to ask questions or speak with family members who may be able to help you. It is important you seek legal advice and have the full details of all applicable charges, what they cover and what you need to pay on exiting before you sign any contracts.
Deposit Generally, you will need to pay a deposit to secure a unit or apartment. Check with the village how long it can be held for you. Should you change your mind within this specified time, the deposit will be refunded. If you enter into a binding arrangement with the village, the deposit will be part of the purchase price or entry payment. In some States and Territories, following the signing of a residency contract purchasers are entitled to a refund during a ‘cooling off’ period. Check with the village operator if this cooling off period applies and how long this period is. You will also need to check whether the village requires an administration fee for refunds.
Templestowe Manor
Your Retirement Living, Your Community Nestled in the beautiful leafy Lower Templestowe just 17kms north east of Melbourne’s CBD. Templestowe Manor is surrounded by three golf courses, local parks, sporting grounds and neighbourhood shopping hubs including Doncaster Shoppingtown and the Pines shopping centre. The Templestowe Manor community features 20 Independent Living Units with private rear gardens as well as a Signature Aged Care service.
Templestowe Manor features: • Newly refurbished units presenting quality internal furnishings and amenities. • Enjoy the self-serve café, library and BBQ terrace, all located onsite. • All meals are prepared onsite by our chef. • Regular happy hours and coffee mornings. • Program of activities which include Allity bus outings, regular film screenings, bocce/putting green, billiards, arts and music.
Call to organise a tour of Templestowe Manor at a time which suits you. Templestowe Manor Retirement Living 410 – 418 Thompsons Rd, Templestowe Lower VIC 3107 t: ( 03 ) 9850 8877
Making every day the best it can be
www.allity.com.au YourRetirementLiving.com.au
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