Skip to content
  1. Home
  2. Get support
  3. Retirement living
  4. Understanding costs and ownership
Wesley Retirement Living

Understanding costs and ownership

Make the right move with our transparent fees and costs.

Retirement Living - Understanding the costs

Understanding costs

Moving to a retirement village is a big decision. It’s important to speak with your family and seek independent legal and financial advice to make sure the choice is right for you. And knowing processes and costs up front can help you feel more confident you’re making the right choice. Here’s what’s involved.

Costs to consider

Learn more about the costs by clicking on the cards below.

  • house_24dp_FFFFFF_FILL0_wght400_GRAD0_opsz24
    Ingoing fees
  • fortnightly_24dp_FFFFFF_FILL0_wght400_GRAD0_opsz24
    Fortnightly charges
  • Payments Icon | White
    Deferred management fee (DMF)
  • local_atm_24dp_FFFFFF_FILL0_wght400_GRAD0_opsz24
    Other costs
house_24dp_FFFFFF_FILL0_wght400_GRAD0_opsz24
Ingoing fees

Ingoing fees

 

Also known as the sale price or entry payment, this is the price you pay to live in one of our units. A portion of this will be refunded when you leave the village, based on the contract you sign prior to entry.

fortnightly_24dp_FFFFFF_FILL0_wght400_GRAD0_opsz24
Fortnightly charges

Fortnightly charges

 

These charges begin when you move in and cover the ongoing operation and maintenance of the village, including staff costs, emergency services, rubbish removal, and council rates. These costs also continue for up to 42 days after you leave. Charges are reviewed annually and can only be adjusted once per year.

Payments Icon | White
Deferred management fee (DMF)

Deferred management fee (DMF)

 

Often called an ‘exit fee,’ this fee is calculated as a percentage of the unit price for each year you live in the village, up to five years. The fee percentage is flexible and can be tailored to suit your financial situation. Unit pricing is based on a 30% Deferred Management Fee (DMF) option, and all costs are subject to change. 

local_atm_24dp_FFFFFF_FILL0_wght400_GRAD0_opsz24
Other costs

Other costs


  • Telephone, Internet, Electricity, and Gas: These services are billed directly by your chosen provider. 
  • Contents and/or Possessions Insurance: While Wesley Mission covers building insurance, you may want to take out personal insurance for your belongings.  
  • Garage or Parking Costs: Deposit Fee: You can purchase a garage, carport or parking space under a contract. The fee is refunded (minus a retention fee) when the space is no longer needed. Alternatively, you can enquire about renting a space month to month. 
  • Maintenance: You’re only responsible for maintaining any additional fixtures or fittings you add to your unit. Wesley Mission takes care of the maintenance of your unit, as well as the gardens, common, and external areas. 
  • Flexicare Service: If you require extra support to stay independent, you can access Flexicare services for an additional cost. Please speak to our team for more details. 
  • Unfair Wear and Tear: When you leave your unit, we may withhold a fee to recover any wear and tear deemed excessive.

Use our calculator to get an indication of costs

Want to explore payment options? Our village calculator shows how your Ingoing fee and Deferred Management Fee (DMF) can work together, including what you could receive when you leave. Our team has other flexible options too.
1

Enter the advertised price

Enter the advertised price for the property you are interested in.
2

Select Term

Our calculator uses a 5 year term as an example. We're happy to discuss shorter terms and walk you through our cooling off period provisions.

Show me the options
3

Your payment options compared based on a home with a

Payment Option
When you move in you pay
Your management fee will be
When you leave you receive*
Payment Option

Full DMF

Pay a lower ingoing fee upfront and defer the management fee until departure.

When you move in you pay
Your management fee will be
When you leave you receive*
Payment Option

Typical DMF

Pay the total unit price upfront and receive 70% on departure.

When you move in you pay
Your management fee will be
When you leave you receive*
Payment Option

No DMF

Pay a larger amount upfront and the full amount is refunded with no DMF.
When you move in you pay
Your management fee will be
When you leave you receive*

This calculator is indicative only and we welcome a call or face to face chat to find an approach that works for you. We can offer flexible options to lower either the ingoing fee or the retained management fee. Speak with one of our consultants to discuss your options.

Get in touch

Additional costs to consider

  • Before you move in
  • After you move in
  • When you leave
Before you move in

Before you move in

 

If you decide to move into a Wesley Retirement Village, you will need to sign a loan license agreement with Wesley Mission. This will give you exclusive right to live in the home you’ve chosen until you leave.

 

You will also need to make a one-off ingoing fee to be able to move into your own home. This payment is split into two parts, a holding deposit at purchase, then the remaining balance before arriving. You will get back a part of the loan component when you leave. This refund amount is predetermined based on your individual contract (less a 5% non-refundable component), so you know exactly how much you’ll get back before you move in.

After you move in

After you move in

 

You will pay a fortnightly recurrent fee, based on the size and configuration of your unit.

 

You will also be responsible for telephone, gas and electricity and will be charged directly by your chosen provider. An additional gas surcharge is applicable for select units, charged by Wesley Mission on top of the recurrent fee. We will discuss this with you before you sign the contract.

When you leave

When you leave

 

You will pay a departure or deferred management fee (DMF) when you leave, plus a maximum of 42 days of recurrent charges. The DMF will be deducted from your incoming contribution, calculated as a percentage for every year you live in the village, for a maximum of five years.

 

Your chosen DMF percentage will shape your ingoing fee and will form part of your agreed village contract. For example, if you have a 30% DMF fee, you will get 70% of your incoming contribution back. We understand that every situation is unique, so please speak to us about our flexible DMF options.

Download our brochure

A smart move

person_celebrate_26dp_FFFFFF_FILL0_wght400_GRAD0_opsz24
Live the life you want
Release equity in your home to live a comfortable retirement lifestyle.
credit_card_off_26dp_FFFFFF_FILL0_wght400_GRAD0_opsz24
No stamp duty
You pay no stamp duty on a home in a Wesley Retirement Living Village.
keyboard_return_26dp_FFFFFF_FILL0_wght400_GRAD0_opsz24
Guaranteed refund amount when you leave
Have transparency up front about how much you’ll get back when you leave.
mind, psychology, brain, support, white icon
You can change your mind
If you’re not happy at our village in the first 90 days of moving in, you will receive a refund on your ingoing contribution (conditions apply).
money_off_26dp_FFFFFF_FILL0_wght400_GRAD0_opsz24
No selling costs when you leave
You don’t have to worry about refurbishing or sales costs when you move out – you simply hand back the keys.
Alan walker image-1

Understand your rights

Our villages operate under the Retirement Villages Act (1999), Amendments Act (2008) and Retirement Villages Regulations (2017). Learn about your rights as a resident.

Know your rights

Feedback

If you have any feedback or would like to submit a complaint or a compliment, please let us know.

Share your thoughts
Retirement Living | Understanding Costs & Ownership | Secondary Image 3

FAQs

Will the fortnightly recurrent fee change over time?

Your fortnightly fees may increase over time. They are reviewed annually in consultation with the resident committee and can only be varied once in a 12-month period.

What’s not included in the recurrent fee?

Your bills, such as electricity, gas, internet, and phone are not included in the recurrent fee. Your choice of supplier charges you directly. Building and village improvements are also not included in this fee – they are covered by your deferred management fee. An additional gas surcharge is also applicable for select units, charged by Wesley Mission on top of the recurrent fee. We will discuss this fee with you before you sign the contract.

Why do I have to pay a departure or deferred management fee (DMF)?

Rather than paying for building and village improvements as part of your ongoing fee, the costs are covered by the DMF. The DMF is calculated as a percentage of the refundable ingoing fee multiplied by the number of years you’ve lived in the village – capped at five years. 

Contact us

Call us
Speak to Wesley Retirement Living team on 1800 931 107
Email
Alternatively, you can email our team on: retirementliving@wesleymission.org.au