Entry Contribution

The Board has the discretion to allocate a number of units to concessional residents or may agree to vary the following entry contributions in specific circumstances.

Rent Assistance for Life model
Studio / One Bedroom unit: $198,000

Entry contributions are priced below the extra allowable pension limit to permit the grant of rent assistance to eligible pensioners and veterans for life.

10% of the contribution is required on signing the contract and the balance payable on entry.

The contribution retained by WRCA is used towards village operating costs and renovations.

The whole of the contribution is non-refundable during residency. However, if you leave the village before 5 years’ residency, a proportion of the contribution is refunded pro rata to you.

Partial Refund while in Residence model
One bedroom unit alternative: $660,000; 1 bed+study: $695,000; Two bedroom unit: $740,000; Three bedroom unit: $800,000

10% of the contribution is required on signing the contract and the balance payable on entry.

A proportion of the entry contribution (30%) becomes a progressive non-refundable amount over your residency and is used towards village operating costs and renovation. (If you leave the village before five years’ residency, this amount is refunded pro rata to you together with the balance entry contribution as a lump sum).

After two years’ residency, half of the balance entry contribution is refunded to you by way of 10 equal annual instalments.

On village exit, the remaining balance of entry contribution is paid as a lump sum to you.

  • 1 bed
  • 1 bed + study
  • 2 Bedroom
  • 3 Bedroom

Entry Contribution:

$198,000

Non refundable Amount after 5 year stay:

$198,000

 

Alternative option for 1 bed units:

Entry Contribution:

$660,000

Non refundable Amount* after 2 year stay:

$198,000

Annual refund x10 to you after 2 year stay:

$23,100

Additional refund to you on village exit:

$231,000


* If you exit the village within the first five years of residency, this is refunded pro-rata to you, plus any refundable balance.

Entry Contribution:

$695,000

Non refundable Amount* after 2 year stay:

$208,500

Annual refund x10 to you after 2 year stay:

$24, 325

Additional refund to you on village exit:

$243,250


* If you exit the village within the first five years of residency, this is refunded pro-rata to you, plus any refundable balance.

Entry Contribution:

$740,000

Non refundable Amount* after 2 year stay:

$222,000

Annual refund x10 to you after 2 year stay:

$25,900

Additional refund to you on village exit:

$259,000


* If you exit the village within the first five years of residency, this is refunded pro-rata to you, plus any refundable balance.

Entry Contribution:

$800,000

Non refundable Amount* after 2 year stay:

$240,000

Annual refund x10 to you after 2 year stay:

$28,000

Additional refund to you on village exit:

$280,000


* If you exit the village within the first five years of residency, this is refunded pro-rata to you, plus any refundable balance.

Recurrent Fees explained

Other details are as set out in the contract which is available from the Village.

Contact Us for more information