Your Questions, Answered

  • No, the units at Vaughan Village are available on a loan licence and the operator will always retain ownership of the buildings.

  • The flexible option loan licence arrangement is for a 5 year period. Extensions will be negotiated between the operator of Vaughan Village and the resident as required.

  • Yes, you must pay a deposit and the amount is equal to 4 weeks of the entry payment instalments.

  • The entry payment is paid as a weekly amount during the term of the loan licence arrangement. Entry payments are to be paid in advance in monthly instalments at the same time as the recurrent charges.

  • Recurrent charges are set at a monthly amount and are charged based on the unit type (1- bedroom or 2- bedrooms).

    • Council rates

    • Building insurance

    • Upkeep of the gardens

    • Cleaning and maintenance of common areas

    • Rubbish collection

    • General repairs for the apartment ie: plumber or electrician if required

    • Water usage

    • Electricity usage

    • Telephone

    • Internet

    • Pay TV

    • Home contents insurance

  • No, there are no capital gains (or losses) as the operator retains ownership of the units.

  • Under this specific payment arrangement no departure fee is payable when you leave the village however, 100% of all monthly instalments of the entry payment are non-refundable.

    Again, this option provides financial freedom if your circumstances change as you don’t need to wait for your money to be refunded when you exit the village.

    We recommend seeking your own legal advice before entering into a Retirement Village Contract.