What am I buying?
The right to occupy an Alumuna home under a 49 year lease.
What does this cover?
General services including sewerage, water supply, electricity supply charge, building insurance and maintenance, gardening, administrative services, emergency nurse call, use of community facilities etc. You only need to arrange your own contents insurance.
What is the retention?
Ingoing Contribution Loan
This amount is determined from the unit design, options that have been added to the unit and the current market values. This amount currently ranges from 220,000 to 280,000 for houses or $175,000 for a single bedroom unit.
Recurrent Charges or the Maintenance fee
This is set at 15% equivalent to the couple’s full pension. At 20/09/2021 to 19/03/2021 this equates to $109.40 per week or $475.35 per month and is subject to CPI changes in line with the pension increases. The fee is payable monthly in advance by direct debit.
(This is sometimes referred to as the retention amount.)
This amount is deducted from the Ingoing Contribution Loan when the refund payable is calculated, when you leave the village.
The retention amounts are calculated on the daily basis from the agreed date of entry until the resident vacates the unit and returns the keys to administration.
The retention amounts are calculated from the ingoing contribution loan at 5% for years 1 to 5 and 1% for years 6 to 10. After year 10 there is no retention amount.
The entry Contribution Refund on Exiting
The refund amount is:
- Repaid with in 14 days of a new loan being received or within 6 months of vacating the unit and returning keys to management.
- Includes 50% of the capital increase in the value of the unit as determined by next Entry Contribution Loan.
If I move out, how do I get my money back?
We share a 50/50 Capital Price Uplift and return your entitlement within 6 months, within 14 days if the home is occupied immediately.
What service charges will I incur?
Electricity (after cap is reached) and gas from Berrigan Shire.
What if I need extra assistance in my home?
We can assist in organising Home and Community Care, or perhaps a Community Aged Care Package.
Can I have a pet?
Requires an interview with the CEO, then if approved, a probationary period will begin.
Podiatry day every 6 weeks, various GP clinic visits, daily pharmacy deliveries from Finley Pharmacy, allied health services. We also offer a laundry and meal service as an optional extra.
Can I plant a garden?
Low maintenance gardens have some space for individual planting but must be maintained by the resident after discussion with the gardening team. A community vegetable plot is being planned for the near future.
Can family members stay over?
Yes, short term stays are allowed. But if another resident moves in Alumuna must formally approve this.
Can we attend the communal dining room for lunch or dinner?
Yes. There is a nominal fee to cover catering which is charged to the resident’s account.
This will only be applicable once community centre is built.
What’s my next step?
Make an appointment with the Accommodation Coordinator on 02 5504 6518 to discuss your questions and arrange a viewing of a display home (if available).
What furniture is provided?
You need to bring your own belongings including furniture.