Retirement Living Costs Explained At BaptistCare, we understand that everyone’s financial situation is different. That’s why we offer flexible financial options designed to suit your individual needs and budget. This guide explains the three key components of our Loan Licence Agreement: your ingoing contribution, ongoing fees, and the Deferred Management Fee (DMF). With clear, upfront information and options that prioritise peace of mind, you can make a confident choice about your future.
Ingoing Your ingoing contribution is also known as the ‘entry payment’ or ‘purchase price’. BaptistCare offers a Loan Licence Agreement, whereby your ingoing contribution is paid to us as an interest-free loan. There are many benefits to this type of agreement, including: • No Stamp Duty
• Free up cash for your lifestyle
• No capital replacements (unlike stratatitled properties) • No refurbishment or resale costs when you leave
• Guaranteed fixed return (no capital gain or loss to share) • Flexibility to change your mind and receive a refund up to 90 days after moving in
Ongoing Ongoing fees, also known as the ‘recurrent fee’, contribute to the cost of operating the village. These include expenses such as council rates, building insurance, maintenance of your home, village amenities and employees. A budget is prepared and provided to you annually. It is also available on request at any time throughout the year.
Outgoing The Deferred Management Fee (DMF), often called the ‘exit fee’ or ‘outgoing fee’, is payable when you permanently vacate your home. This fee helps fund the continuous development and improvement of the village’s services and facilities. The DMF is accumulated over the first six years of your stay. If you leave before six years, the fee will be calculated on a pro rata basis, depending on how long you’ve lived in the village. Unless you choose a 100% Deferred Management Fee (DMF) option, you will receive a refund of your ingoing contribution—less the DMF—when you leave.*