CATHERINE AT THE GREEN - A FAIRWAY VILLAGE
CATHERINE, an active 65-year-old, purchased a new home at The Green – A Fairway Village for Over-55’s. Catherine bought her home from the Developer for $500,000 and the title to the property was transferred into her name.
Catherine paid a weekly Management Fee of $85 - $135 and moved into her brand new home where she enjoyed 15 years of companionship and security living in the village.
When Catherine turned 80, she decided to move into an aged-care facility.
Catherine and her family had the freedom to choose the sales agent and made all the arrangements to sell her home. Catherine’s home had increased in value and it sold for $900,000. After agent’s fees, Catherine received $880,000.
Because Catherine lived in a Fairway Village, she owned her own home and there were no Deferred Management Fees, Sinking Funds, Termination Fees or other costs to pay. She and her family kept the entire $880,000. This is 76% more than the $500,000 purchase price after 15 years.