Retirement Costs

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Promising you certainty in every sense of the word

It’s an exciting time in your life and we want to help you make the most of it. We also understand that moving to a retirement community is an important decision, one that you want to make with complete confidence, knowing it’s the right one for you.

We know that you’ll want to understand all costs involved, and have absolute clarity on exactly what your financial commitments will be when you move in, when you live here and when you move out.

At Aveo, we are committed to providing financial clarity on all fees and charges.

Moving In

When you purchase an Aveo retirement unit, your costs will include the purchase price and legal costs, however there is no stamp duty payable. For your peace of mind, we offer the below settling in assurances:

Cooling-off period

If your circumstances change, you can cancel your contract within 21 days of signing without paying any penalties, other than the administration costs that may have been incurred.1

Money Back Guarantee2

If you change your mind within 3 or 6 months of settling on your unit, (depending on the contract you choose and the location of your unit) or moving in (whichever comes first), we’ll refund the ingoing contribution of your unit. There’ll be no exit fees. All you’ll have to pay for are the service fees while you’ve been living at the community and any legal costs and utilities.

Take a look at the video below, it will explain our Money Back Guarantee in more detail.

Living In

Service fees: Similar to the day-to-day costs of living in your own home, a regular fee applies to live in your new retirement unit. It funds the day-to-day running costs of the community and is determined in line with the Retirement Villages Act. Exactly how much this is can depend on which residence and community you choose. Your sales consultant will be able to give you the exact figures. The service fee covers things such as:

Community Staff

Cleaning and maintenance of common areas

Insurance and Council rates

Activities and community bus3

Take a look at the video below, it will explain our service fees in more detail.

Leaving

Deferred Management Fee (DMF): As with the majority of retirement communities, Aveo charge a DMF. This fee allows us to operate the community and all its facilities now and in the future. Part of the DMF is profit, however, we also reinvest back into the community to pay for communal facilities and capital improvements. Depending on the contract you choose it is calculated over your first 3 or 5 years of living with Aveo and is capped at 35%. The DMF is not paid until you leave your unit or transfer to another Aveo retirement or aged care living option. The DMF may contribute to:

Capital improvements within the Aveo community

Infrastructure upgrades

Support of staff

Facilities provided to the community

Membership Fee: The Membership Fee only applies to our Certainty option. This fee of $2,000 per annum is only paid when you leave your unit or apartment. See our contracts page for further details of the transfer options available.

Take a look at the video below, it will explain our deferred management fees in more detail.

No hassles when leaving

No sales commission and marketing costs4

Unlike traditional real estate agencies, you won’t be charged any sales commission or marketing costs related to the re-sale of your unit.

Guaranteed sale

Aveo will guarantee the sale of your property if it doesn’t sell within 6 or 12 months (depending on your contract type), giving you real peace of mind where its not already covered by legislation.

No refurbishment costs5

Neither you nor your family want to be burdened by undertaking the works when the time comes to leave. That’s why, when it’s time to sell, Aveo will take care of, and pay for, any works that we think are needed to prepare your property for sale.

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No exposure to the real estate market

As you won’t be exposed to the fluctuations in the market, we can tell you and your family exactly what you will receive when your property is sold, offering peace of mind in an uncertain property market.

Unless you waive your additional cooling off period by settling or taking occupation of your unit.

The Money Back Guarantee is subject to particular time frames regarding sale and repayment, as well as other terms and conditions. These terms and conditions are outlined in full in our contracts, which are available upon request. Refund will be paid within 75 days of vacant possession.

Facilities differ between communities.

Provided you appoint Aveo Real Estate to sell your unit/apartment.

This is provided you do not intentionally damage or make changes to the property.

With over 90 communities across Australia, we're sure to have one near you!
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