From 1 July 2024, the third largest operator with 58 retirement villages has launched a new contract and payment offer for entry into its villages. 

There are two options are:  

• Pay 20 per cent of the purchase price upfront. 

• Pay 30 per cent of the fee when you leave 

If the apartment price is $750,000: 

The Upfront buyer will pay a 20% higher price on entry or $900,000, and receive $750,000 when they depart. 

The Pay Later buyer will pay $750,000 on entry and receive 30% less when they depart, or $525,000.  

The difference, or discount, is $75,000 in this example.  

Levande has made the renovation and selling costs its responsibility. There is no sharing in capital gain or loss on the property. 

Levande also has a six-month "change of mind guarantee". If the buyer does not like the village and moves out within six months they will not pay a management fee. 

In addition, there is a six-month guaranteed buyback if the homeowner’s property is not sold when the home is vacated. 

The biggest retirement village operators, Aveo and Keyton, also offer contracts that let clients pay upfront or at the end. They also offer contracts with no exit fee. 

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