As we age, a common goal is to maintain independence for as long as possible. This has in turn led to a rise in demand for retirement village or assisted care accommodation.

It is important to note that these purchases are not typical residential property transactions, and great care must be exercised at the time of purchase to ensure that the property meets your current and expected requirements.

Choosing where and when to buy are just some of the important considerations at this time. The questions of how to fund the purchase, how to maintain your family home at the same time and how the purchase of this type of accommodation may affect your living estate and your beneficiaries after your death should also be considered.

Clinch Long Letherbarrow can guide you in these decisions to help you make sure that your personal and family issues are taken care of.

Services

 
There are many factors to consider when buying or selling retirement village accommodation. Clinch Long Letherbarrow can assist by:

• Performing background checks regarding the facility’s management and financial status
• Ensuring compliance by the operator with laws relating to the operation of retirement villages
• Discussing and ensuring that your living conditions will be as you want, for example, in relation to car parking and keeping pets
• Reviewing and advising on services agreements, contracts and leases
• Offering guidance on financing your purchase
• Providing an indication of the impact your move may have on your family and your estate
• Discussing with you the impact on your own finances and anticipated liabilities regarding ongoing maintenance fees, capital gains tax and payment of stamp duty
• Providing information about what happens when you need to leave your accommodation including reviewing resale terms and conditions, commissions, rent refunds or exit fees

 
We offer comprehensive advice and services in relation to all aspects of buying or selling retirement village accommodation.
 
Contact us today and benefit from our knowledge and insights into this important area.