Costs & Ownership

What does retirement village living cost?

 

It’s hard to put a value on peace of mind and total security but it’s important to understand the different costs associated around retirement villages.

Capital Sum

Capital Sum is the amount you pay that gives you the right to occupy your choice of retirement village property

Management Fee

All retirement village residents pay fees towards the management and running of their retirement village.  Typically the types of costs included in the management fee are staff costs who are on-site service providers.   For tasks like gardening some residents pay their own gardener and others are avid gardeners.

Fixed Village Fee

Typically Fixed Village Fees are costs associated with rates and building insurance and are similar to fixed fees incurred when residing outside of retirement villages.

Your Own Costs

Your own costs include normal cost of living costs such as food, power, water, internet, telephone and contents insurance.

WRV - Villa View 2

It’s important that all retirement village residents enjoy an attractive environment, so at Lifecare Residences we work with and for you to ensure this happens at all times for all our retirement village residents so there is a property maintenance fee within the fixed village fee.

Lifecare Residences are mindful of the fact that all our retirement village residents are able to enjoy financial certainty without any nasty surprises so a breakdown of costs are available from our Management team and are available upon request.