You pay the agreed price to the Lifestyle Estates for the right to occupy your chosen residence. You also pay a small monthly fee for village maintenance and services, like lawn mowing, pool maintenance and gardening. This service charge also covers the cost of all facilities provided including the 24 hour emergency call button, council rates, building insurance, bus, on-site manager and operation and maintenance of the community centre. These fees are outlined in the brochure package. The budget is reviewed annually and can be increased by CPI or other circumstances as set out in the Queensland Retirement Villages Act 1999.
Ownership of your property
This estate offers leasehold ownership of the dwelling. This means that you have a 99 year lease registered in your name and also registered with the land titles office to guarantee security of ownership. Residents are responsible for their own electricity, phone and contents insurance bills.
Great savings
Lifestyle Estates residents are not responsible for council rates, water rates or home building insurance. All maintenance and lawn mowing is taken care of by management. In addition, there is no stamp duty or agent’s fee on your purchase.
Options of payment moving into your Villa
(A) Standard lease
You pay the list price and receive 60% of the capital appreciation (or in the case of depreciation, less the depreciation). This option has an exit fee of 5% with a cap.
(B) Seniors discount option
Reduces the list price by 10%. This option still give you a 60% share in the capital appreciation (or in the case of depreciation, less the depreciation). This option has an exit fee of 8% with a cap.
You are responsible for your phone connection and electricity supply.
