Retirement living made hard

Mark Bryson - Thursday, June 04, 2015

When looking for a suitable retirement living solution care needs to be taken when entering into retirement villages. The contracts are very one sided and you should employ a lawyer to check all documentation. Many retirees are not aware of all the fees incurred when such a contract of sale is entered into. 

I have compiled a list of the numerous fees and charges you could expect within your retirement contract:

  • Entrance fees
  • Departure fees
  • Management fees
  • Recurrent fees
  • If your home is sold they can have a share of any financial possible gain.
  • Remembering the more facilities within the retirement village the more the fee rate will be to cover the maintenance costs.
  • Some contracts you own the home for a set period
  • In most cases you will not own the land
  • Leasing costs for the land

The above list is not all the fees you are likely to encounter but some of the main ones. Consumer affairs in 2013-2014 years had 500 plus enquiries and 470 of these enquiries lead to being complaints so there are some serious issues within the retirement village industry. 

At Berstan Homes we believe we have a solution to these problems by offering complete turnkey homes on land that you will own with everything needed for a happy retirement living solution. There are no fees or charges and you will own your home and land. The homes come in a range of sizes and styles 2 bedroom or 3 bedroom options. All homes have high standards of finish and are available across 3 estates in the beautiful Northern growth corridor with easy access to shopping centres, medical centres, clubs, RSL's and public transport.