What are the costs of retirement living?

The costs of retirement living depend on many factors, including the type of home required, its location, and the facilities and services available.

The lower entry cost, community lifestyle, and access to a range of other on-site facilities make retirement villages attractive propositions for many prospective residents seeking to downsize or transition into a low-maintenance lifestyle.

Villas/units in our retirement villages are purchased under a Lease for Life arrangement.

Under Lease for Life, residents pay an ongoing contribution or purchase price for the villa, which gives them exclusive rights to live in the property for their lifetime from the commencement date of the lease. Upon vacation of the unit, the lease is to be sold. It is important to note that Lease for Life is not the same as entering into a rental agreement.

The main costs of retirement living are:
– Low monthly service fees, all-inclusive rates etc.
– Exit cost
One-off Deferred Management Fee (DMF)
– Reserve fund contribution
– Reselling fees

Read on to learn more about the costs of retirement living.

costs of retirement


In-going Contribution

To secure a Villa at one of SCC Villages, the resident pays an ongoing contribution based on the villa’s market value. Upon termination of your lease or if you decide to move from the village, your villa will be released to a new resident, and you will benefit from the full market value of the villa at that time.

Service Fees

During the lease and until the resident is repaid the in-going contribution, the resident must continue to pay a contribution towards the village operating cost. This contribution is called a ‘Recurrent Charge’ and is a standard amount that is fixed annually by SCC (WA) to meet the Operating Costs budget.

The cost and inclusions of the Service Fee will change depending on the Retirement Village and individual lease documentation.

Some examples of items covered under the service fee could include but are not limited to:

  • All external maintenance of the villas, Community Centre and common grounds
  • Access and use of the Community Centre
  • Maintenance of common gardens, including lawn mowing and reticulation
  • Upkeep of walkways, paths and visitor parking areas
  • All building insurances
  • Water Corporation rates and water consumption
  • Council rates as applicable for not-for-profit organisations
  • Village administration and management
  • Annual termite inspection to all villas and common buildings
  • Annual service to air conditioners, annual smoke alarm checks and servicing of fire equipment
  • Security night lighting
  • 24/7 emergency call system

Maintenance Reserve Fund

The amount payable to the maintenance reserve fund by the outgoing resident after permanently vacating the villa is calculated at 1.25% per annum based on the in-going contribution and calculated on a pro-rata daily basis.

Our retirement villages

With 7 retirement villages across the Perth metropolitan area, you can choose from a variety of homes.

Learn More

We’re here to help.

Please get in touch if you’d like to talk about our services or enquire about available properties.

Contact Us