If you are thinking about whether a Retirement Village at TriCare is right for you – we are sure you have many questions. The following are typical questions we get asked, check them out below.
Q: What will I own?
You will be purchasing a new home on a lease agreement. Therefore, you will not need to worry about most maintenance and repairs (except consumables such as batteries and light globes). The village will manage these tasks, and you will only need to pay a weekly fee that covers the management, upkeep, and minor maintenance within the village, while TriCare covers the replacement of capital items.
Q: Do I need to pay stamp duty?
No, you will not need to pay stamp duty when purchasing your home within a TriCare Retirement Village Community. This can save you a significant amount of money.
Q: What is the exit fee?
The exit fee, sometimes referred to as a deferred management or departure fee (DMF), is a lump sum payable only when you leave your Retirement Community. It is calculated as a percentage of the original standard ingoing contribution (purchase price).
Q: What do the general service fees cover?
The weekly fees include insurance for the community assets and buildings, together with their fittings and fixtures; community utility and water costs (for example, community electricity and water); and community management and administration.
It also includes all costs of day-to-day maintenance, upkeep and cleaning of the village common areas and buildings, including gardening; the provision of the emergency response system; security; costs of contractors; salaries and wages for staff responsible for the provision of services to residents; and all other expenses as outlined in the Residence and Management Contract.
Q: Can I make changes to my home?
Yes, but you must discuss any major changes with village staff and obtain their approval. All changes require management approval – ask us for more details.
Q. Do you have 24-hour emergency system?
Yes, we do. Please ask village staff for more details.
Q. When I leave, who will arrange the reinstatement and sale of my home?
When you leave, we will arrange reinstatement and manage the sale of your home at no extra cost.
Q. Can I have friends and family come and stay?
Yes, of course! This is your home, and your family and friends are welcome to stay over. However, a maximum of two weeks would normally apply for other than extenuating circumstances. If you wish to have guests for more extended periods, please discuss this with management.
Q. Can I go on holiday and leave my home empty?
Yes. Please let us know you will be away so we can keep an eye on your home for you while you are gone.
Q. Can I bring my pet?
Yes, you can, subject to management approval. Please discuss with village staff before moving in.
Still have more questions? Check out our website and 9 Retirement Village locations here
