Pricing & How It Works
Retirement is a time to relax. We know this transition can be daunting, though.
Retirement is an exciting time. A lifetime of hard work has paid off, and it’s time to relax. Of course, with retirement can come concerns. Have you saved enough to live comfortably? Do you have enough to feel secure well into retirement? It can be challenging to weigh up the pros and cons of staying in your long-term home or making the big move into a retirement village.
You may be surprised to learn that often, retirement villages are often more affordable.
Research has found retirement villages are more affordable.
The University of Technology Sydney found that retirement villages are actually more affordable when all living costs are considered. It compared nine retirement villages across Australia with like-for-like (age, size, quality) residential homes and retirement living won!
Retirement Villages offer value for money
Our Oak Tree retirement villages come with all the amenities you need for a fulfilling retirement lifestyle. Walk down to the bowling green in the morning, take a swim, and even get your hair done — all without leaving the village.
The benefits of Retirement Living
So, what are the fees?
You will need to pay a fully refundable deposit before moving in — this is $1,000.
Your entry fee buys you the right to live in the village. The exact cost will depend on the village and the size of your villa or apartment.
You’ll have to pay a weekly or monthly fee to the village. This fee covers the administration and upkeep of all the village’s facilities and amenities.
The exit fee, or the departure or deferred management fee (DMF), is the cost you’ll need to pay when you leave the village. This cost will be directly impacted by the entry fee you paid and the time you lived in the village. These fees are capped at 30 to 35 per cent of the entry fee.
Other costs to consider
While you’re weighing up the costs of retirement living and whether it’s right for you, it’s important to consider the other costs. You’ll still have those standard living expenses, such as your utilities, insurance, and household costs for food and general goods.
Retirement Village Contracts
Oak Tree Retirement Villages offer a Loan and License Agreement, also known as a Loan and Lease Agreement. Basically, you pay a fee to live in the retirement village and have rights to your villa or apartment. However, you do not own the property. This is beneficial in retirement living as it offers you a secure home while eliminating stamp duty, GST, and council rates.
Begin your new lifestyle.
Join a community of like-minded locals like yourself. Oak Tree’s retirement villages prioritise providing a comfortable, enriching lifestyle and a positive community to enhance your retirement.