Costs and Ownership
Choose your way to retire
with four different ways to buy
We know everyone likes to do things a little differently. That’s why we’ve created four different ways to buy your home at Port Phillip Village, so you can pick the contract that works best for you.
Relax into retirement with a sense of comfort.
The Prepaid Plan is ideal for those who like to get everything settled in advance. When you choose to buy your home with the Prepaid Plan, you’ll pay for the price of your property as well as an upfront management fee. This means you can relax knowing this cost has been taken care of already. When it comes to leaving the village, Lendlease can help you sell your home at the market rate, and any capital gains from your home will be yours.
Enjoy your retirement with optimum security.
Choosing to pay for your home via a Refundable Contribution gives you the security of knowing your money is guaranteed by paying more in a refundable upfront contribution, with no additional management fee at exit. There are no selling costs or pressures, no legal fees and no reinstatement costs to worry about.
Deferred Management Fee
Make the most of your retirement now.
A Deferred Management Fee (DMF) contract is a great choice for those looking to make the most out of their retirement now. By deferring part of the costs of your home until after you re-sell, you can buy in at a more affordable price and keep some cash in the bank to continue enjoying the things you love.
Pay As You Go
Live the Serviced Apartment lifestyle with the freedom to change your mind.
Pay As You Go gives you the freedom to experience living in a Serviced Apartment without having to sell your home or other assets beforehand.
With this option, you’ll pay a security deposit, a non-refundable establishment fee, and monthly instalments. When you leave the village, you’ll have your security deposit returned to you, with no extra fees or costs. You won’t need to worry about the capital gains or loss of your property, or have any selling pressures when you leave.
Contract Types and Tenure
Securing your property at Port Phillip Village is simple. All you need is a $1,000 reservation fee, after which you will be given a contract and the time required to review it thoroughly. The contract will explain in detail the type of ‘tenure’ you will have for the property. At Port Phillip Village we offer a Strata Title Agreement. As with any legally-binding agreement, it is strongly recommended you consult a solicitor. If at any point before signing the contract you decide not to go ahead with the purchase, your $1,000 reservation fee is fully refundable.
We understand you'll have a lot of questions around what to expect when moving to a retirement village.
Find out more about costs, service fees and other Frequently Asked Questions in our Cost and Ownership section.
Disclaimer: Lendlease proudly operates under the Retirement Villages Act. Full details are available in the residence contract. These options are available now, subject to availability. Lendlease reserves the right to amend or discontinue these offers at any time, without notice. Published by Lendlease RL Realty (NSW) Pty Ltd ABN 27 138 535 823. Published July 2018.