FAIRWAY VILLAGES have revolutionised the Retirement Village Industry dragging it out of the dark ages where the only choice open to over-55’s wanting to downsize was the Lease for Life model that has attracted so much criticism in the past 18-months.
And that criticism is easy to understand. The Lease for Life model where residents never own their home and sign leases that mean they have to share the proceeds when they sell, simply doesn’t suit everyone.
The FAIRWAY VILLAGE Ownership Model is the first real change in the industry offering for many, many years…the differences could not be more marked.
If you live in a FAIRWAY VILLAGE you own your own home; can borrow against the title which is in your own name; sell whenever you like and through any agent you choose. Best of all, you keep all the sale proceeds (except the agent’s fees you agreed to) or, if you choose, you can leave your home to your loved ones. Under a lease for life arrangement you own a lease – not a home – and you can’t borrow against it simply because you have no title - nothing is in your name. If you sell, the usual arrangement is that the agent is chosen for you and then there are a myriad of fees and charges that are deducted from the sale proceeds before they come to you.
It’s clear, Lease for Life might suit some people but it certainly doesn’t suit everyone.
FAIRWAY VILLAGES are now planning villages in different parts of the metropolitan area. Every one of them will be developed on the ownership model and every one will have quality community facilities (all owned by the residents) that will be unmatched anywhere else.
But don’t take our word for it. Study the various villages…ask the right questions and compare the benefits of owning your own home.
