All 104 Villas at WCV are Strata-titled. This means you own your own garden Villa and private courtyard. Like all real estate the cost of a Villa at WCV will vary depending on size, style, presentation and position. Following is a table of our 5 Villa sizes and the layouts. All Villas are air-conditioned with a kitchen and living area, bathroom/laundry and private garden courtyard.
Indicative Values/Prices of Villas (at July 2021)
One Bedroom Villas | From $215,000
Large One Bedroom Villas | From $240,000
Two Bedroom Villas | From $355,000
Large Two Bedroom Villas | From $365,000
Free Standing Large Two Bedroom Villas | From $365,000
How we compare to industry average
Each year Price WaterhouseCoopers undertakes a comprehensive industry survey of Retirement Villages in Australia. We are proud of how we compare to the 586 Villages that participated and here’s a few examples:
Deferred Payment: Also known as the deferred management fee (DMF) or exit fee. This refers to the deferred payment structure that is offered to new residents entering a Village. The DMF reduces the upfront payment made by residents entering a Village, essentially making your Villa more affordable. The management fee is payable when your property is sold. Our maximum DMF is 27.5% of the resale price (rounded up in the graph below) and doesn’t reach the maximum until Year 10 of the residents term of occupation. This compares to the industry average of 30% after 6 years. Some DMF’s are as high as 50%.
Monthly Service Fees: This refers to the Recurrent Charges Fee which is payable monthly on all services relating to the Retirement Village. We are conscious of maintaining our recurrent charges fee within the means of retirees on a fixed income or pension. We strive to provide quality services at an affordable level. The graph below from the PWC survey highlights our affordability at $165 per month compared to the industry average of $518 per month. As we are a strata-titled property, to be truly reflective of our complete costs, we ask you to add our monthly strata administration fee to this sum, which in FY20/21 for a standard 2 bedroom Villa was $274.55 per month. This becomes a monthly average fee of $439.55 per month as compared to the Australian average of $518 per month for a 2 bedroom Villa. We also note that our Villa purchase price or entry costs are such that many Villa owners have qualified for Rent Assistance through Centrelink which is currently providing a rebate to these eligible residents of approximately $36 a fortnight, or $936 a year on these monthly fees.
Average days from vacant possession to settlement: This refers to the period of time between vacant possession of your Villa to the settlement of the resale. We are proud of our turnover time, highlighting the demand for our Villas.
Marketing spend: We spent an average of $5,600 per Villa sold in marketing in 2021. In addition, we have a full-time sales agent on site who is constantly ensuring that we have a pipeline of interested purchasers for our Village.
These graphs are taken from the PWC 2021 Annual Retirement Village Census and “You” refers to Windsor Country Village as a comparison against the industry average.
Air-conditioned Villas comprise of one or two bedrooms, living room, kitchen, bathroom, laundry facilities, private courtyard and parking spot. All have the option of a 24 emergency on-call system.
Ready for you to move into this strata-titled Villa with courtyard garden and pergola overlooking native bird-filled gardens. Open plan living and dining, with skylight, reverse cycle air-conditioning, ceiling light with fan, and large bathroom with laundry facilities. This Villa allows you the privacy of your own home, within easy access to all community facilities.
Beautifully presented and maintained Villa in a stunning and convenient location.
Freshly painted in neutral tones, this 1 bedroom strata titled Villa has new Fujistu reverse cycle air-conditioning, skylight and ceiling fans.
Optional extras that can be included at no extra cost include buffet & hutch, dining table and 4 chairs.
The villa is located in an excellent position within the village, with easy access to the community centre and facilities. This 1 bedroom Strata Titled, end villa is in a prime location, close to resident parking, the village bus & clothes line facility. Neat and tidy throughout. Open plan living, dining & kitchen area. Skylights in living area and bathroom Reverse cycle Air conditioning in living area. Good size bathroom with laundry facilities and good shelf space. Bedroom with full width mirrored built ins, new carpeting, ceiling fan light & window. Dual access to courtyard via glass sliding doors from living area and bedroom. Paved courtyard with pergola enjoying views over village parkland like grounds. Recently re-painted in neutral tones.
Ready for you to move into this strata-titled end Villa with courtyard garden and pergola overlooking native bird-filled gardens. Open plan living and dining, with skylight, R/C air-conditioning, ceiling light with fan, and large bathroom with laundry facilities, this Villa allows you the privacy of your own home, within easy access to all
We are very aware of retirees needing to manage their money well. Our annual budgets are tightly managed (with annual consultation with our residents) and we report regularly to our Resident Committee. Our ongoing fees are within the budget of retirees on a fixed income.
The main costs include:
- Initial purchase price
- Recurrent charges
- Strata levies
- Departure fee
Following is just a brief explanation of these costs. If you want to know more, please don’t hesitate to ask or download our “Cheat Sheet” with all the answers to the “frequently asked questions”.
Initial Purchase Price or Entry Fee
All Villas at WCV are strata-titled and those currently available have a ‘for sale’ price.
Like any other real estate, the price will vary depending on the size, style, condition and position of the apartment.
Some government and legal fees or charges will apply, for example Stamp Duty. Please contact your financial advisor or solicitor, for more information.
To fund the approved budget to pay for the day-to-day operating costs of the retirement village services and activities, there is a monthly fee known as a recurrent charge. This fee is used to cover services such as the costs of the onsite Village Manager, the Village Bus expenses, the on-call emergency system and Village activities and services.
Strata Administrative and Capital Works Fund
- the costs of running the facilities such as electricity, sewerage and common area lighting.
- building insurances
- maintaining and cleaning the facilities and common areas that are available to all of the residents, including the gardens and lawns
You will still need to pay for things like your own telephone, a water service charge and electricity use, home contents insurance, and council rates. If you are currently receiving a concessional rate, you’ll need to apply and continue receiving it.
Many of our residents qualify for Rent Assistance. Talk to our Sales Manager to see if you qualify, significantly decreasing your ongoing contributions to Strata Fees and Recurrent Charges.
Like most other village operators, we charge a Departure Fee. This is a fee is payable on the settlement of a resale of your property. Sometimes this is called a Deferred Management Fee.
This is the operator reimbursement which is received for the responsibility of providing services for the time of residence, be the period of 6 months – or, as has been the case, 33 years!
The benefit of a deferred management fee is that it significantly decreases the “entry cost” or purchase price of the property, deferring some of this cost until the sale of the property.
The departure fee at Windsor Country Village is calculated on a pro-rata percentage of the sale price of the apartment. Our fee is capped at 27.5% which is significantly less than the industry average of 30% and we accrue our fee over 10 years rather than the industry average of 6 years. (see PWC survey for more information)
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Get In Touch
We welcome you to drop in and see us during business hours or call us anytime on 0448 400 920 and we can answer any questions you have. It’s time to make life easier for yourself.