conveyancing Blog
A deferred management fee—also called a departure fee—covers any expenses incurred by a retirement community during your residency, and is charged when you move out. When you sell your unit, the community deducts this fee from the sale price.
The services it covers vary by community but can include:
- Refurbishing your unit after you leave
- Marketing your former unit for sale
- Legal fees to re-licence your former unit
- Communal area maintenance
Your community usually calculates this fee by multiplying a percentage of your purchase price by how many years you lived in the unit. In most cases,...
Understanding retirement contracts and village ownership
For many Australians, retirement means a change in their pace of life. This may come with the decision to downsize your home with the option of moving into a retirement or lifestyle village.
Retirement Village Eight Point Plan: what is it and how does it affect me?
More than 180,000 senior Australians now live in retirement villages, which offer convenience and economic advantages when downsizing from a family home. However, stories in recent years of...
Questions you should be asking before choosing a lifestyle village
If you’re looking forward to retirement, you might want to consider downsizing and moving to a lifestyle village to make life easier. After all, lifestyle villages aren’t just for the frail...
5 affordable ways to get into the property market faster
For many, the Australian dream is to buy a home on a quarter-acre block. Whether you want to do this for stability, for your family or because it makes financial sense.However, with house prices...
3 tips to help you decide if downsizing your home is right for you
If your children have all left your home for lives of their own, you may wonder if downsizing your home is the best decision for your family. The experienced team at East Coast Conveyancing...
The Bollen Memo - Episode 6
This month we speak to Lydia Brown, one of our Solicitor's here at East Coast Law about Personal Property Securities and the Personal Property Securities Register. Find out how to use the PPSR and...
Loans and the lending market: what do tighter lending conditions mean for me?
With Australia's house prices continuing to fall and banks imposing stricter conditions on borrowers, trying to buy a new property or sell your home can be a challenge.According to CoreLogic...
Retirement - what are your property rights?
If you're retiring, deciding to sell the family home and move into a retirement village can make financial sense – but it's a decision that needs to be considered carefully.
New Year, New Home - tips for settling in
The New Year is the perfect time for a fresh start in a new home. Moving is exciting for the whole family, but it can also be overwhelming. Settling into a new house is about more than just...
