Frequently Asked Questions

We recommend that you visit a number of villages and talk to the residents and staff as well as discussing the choices with family, friends and advisors.

Whilst there are many different financial, legal and physical aspects to investigate between different villages in one essential way choosing a retirement village is no different from choosing your previous homes, that sixth sense that tells you where you feel most at ease.

We are confident you will choose Balmoral.

You receive a Lifetime Lease to live in your unit or apartment.

Your tenure is secured under your Lifetime Lease, (the most common legal structure for entry to a Retirement Village in Victoria), and government legislation, the Retirement Villages Act 1986. Balmoral Village is also listed on the Consumer Affairs Victoria retirement villages register.

It takes approximately four months from the date you select your home. In that time you will sell and settle on your home, and we will renovate your unit to your specifications.

A comparable strata unit:

• May have a higher ingoing cost
• Incurs expensive stamp duty and legal fees
• Involves body corporate obligations
• Residents generally pay for all major maintenance and repairs

A leased unit at Balmoral:

• Is likely to have a lower ingoing cost
• Involves no stamp duty
• Attracts lower legal fees
• Eliminates body corporate worries

and…      

• The village owner pays for all major maintenance and repairs, not the residents
• Leasing gives you the same security of tenure as buying a unit.
• The Life Time Lease at Balmoral is equally binding on the owner and the manager and ensures an ongoing commitment by them to the success and well being of the village and its residents.
• All villages in Victoria are subject to the Retirement Villages Act.

Indicative prices are included on this web site but the Village staff can provide you with a current price list and details of what units are available.

At Balmoral we aim to keep the ingoing cost below other comparable villages. In addition stamp duty and legal fees are minimal.

But it is not only the ingoing cost that you need to consider when comparing different villages. The ongoing commitment and refund on departure are equally important.

Once you have selected a couple of villages where the location, amenities and accommodation suit you, the financial choice will usually be either...

A) a higher ingoing cost and ongoing commitment,

B) less money left in your pocket; but

C) a higher refund on departure.

or

A) a lower ingoing cost and ongoing commitment,

B) more money left in your pocket; but

C) a lower refund on departure.

At Balmoral we have adopted the latter regime with the aim of providing certainty as to your total commitment over the whole of your time at the village and leaving as much money as possible in your hands for your retirement.

None. Stamp Duty does not apply at Balmoral.

Your accommodation is fully renovated before you move in to Balmoral. The cost of these works is met by the Owners of the village. All maintenance, both inside and outside, to your unit or apartment, is the responsibility of Balmoral.

A weekly maintenance fee (reviewed annually generally in line with CPI) is paid fortnightly in advance by all residents. For convenience and security this payment is be made via a direct bank debit.

It includes:

• Council rates
• Water rates
• Use of water
• Sewerage disposal charge
• Insurance of your unit
• Insurance of the common property
• Personal liability insurance
• Staff costs
• 24 hour emergency call service
• Street & security lighting
• Lawn mowing
• Gardening
• Minor and preventative building maintenance.
• Maintenance of appliances included in the unit i.e. stove, heater, cooling, hot water system.
• Maintenance, servicing & cleaning of village centre & facilities.
• Operation of village facilities including the Club, bus, motor vehicles, swimming pool, library, bowling green etc.
• Contribution to a general reserve.  

Your outgoings are known and there are no costly surprises at Balmoral.

Maintenance fees are paid fortnightly by direct debit from your account.

Increases in the Maintenance Fee are regulated by The Retirement Villages Act. They are determined each year in consultation with the residents. Management prepares a budget in consultation with the Residents Committee, and annual accounts and budgets are presented to residents each year.

No. Council rates are included in your Maintenance Fee, which also covers other outgoings such as maintenance, staff costs, building and public liability insurance and gardening.

You are responsible for normal services to your home such as gas, electricity, telecommunications and contents insurance.

Generally speaking, yes, provided you first obtain the written consent of the Village Manager.

Australia post delivers directly into your own private locked letterbox. Every unit and apartment has its own letter box for mail and newspaper delivery.

Yes. There are a number of General Practitioners, specialists and hospitals located close to Balmoral. A General Practitioner visits Balmoral twice a week.

A convenience store is located within a five minute walk, and Knox City shopping centre is two kilometres from the Village. Our Village bus has regular scheduled trips to Knox City, The Glen, Rowville, Stud Park, Bunnings and Spotlight stores.

Yes. It is monitored 24 hours a day, 7 days a week.

The village has CCTV cameras in specific areas. Being in a community of like minded people, residents always look out for each other.

Yes, meals are available. Balmoral has a Dining Room that provides lunches and dinners and special occasion dinners.

You have a choice. Our gardening team mow all the lawns and will look after your garden for you. However, if you enjoy gardening you can look after your own. We also have an area set aside for vegetable garden plots.

Balmoral has a dedicated boat and caravan parking area. Space is limited, so talk to the Village Manager to reserve your spot.

We recognise that pets are an important part of your lives. So, yes, small house pets are most welcome.

Yes, most certainly. It’s your home, and you’re more than welcome to have guests stay and enjoy the facilities with you. We do ask that you seek management permission if they’ll be staying with you for more than six weeks, both as a safety and courtesy measure.

Disputes between residents or between residents and the manager and/or owner may be referred to Consumer Affairs Victoria or may be dealt with, at the option of the resident, under the village dispute resolution procedure. The internal dispute resolution procedure is available from the Village Manger. Consumer Affairs Victoria may be contacted at:

Consumer Affairs Victoria,
Level 2, 452 Flinders Street,
Melbourne Victoria 3000
Telephone 1300 55 81 81 (local call charge)
Email: consumer@justice.vic.gov.au
Website: www.consumer.vic.gov.au

At Balmoral residents pay an Ingoing Contribution at the commencement of their stay in the village. The Ingoing Contribution is refunded to the resident or their estate following their departure from the village less a deduction by way of rental dependent upon the length of occupancy. The rental deduction is calculated as a percentage of the Ingoing Contribution for each year of occupancy but is fixed at a maximum of 30% after 8 years. The deduction reduces to 0% after 23 years.

The Refundable Ingoing Contribution is paid to the departed resident or their estate within 14 days of the vacated unit being re-leased and the Ingoing Contribution from the succeeding resident being received.

At Balmoral there are no deductions from the refund or obligations in relation to sales commission or unit refurbishment costs and the weekly maintenance fee is not payable after the occupancy term has expired. There are no legal costs associated with exiting the village.

It is also important to note that at Balmoral it is the owner who meets major repair costs in relation to the units and the village generally including items such as the replacement of hot water services, heating, cooling, stoves, carpets and floor coverings providing long term financial certainty for residents.

Proceeds from the resale of your accommodation is paid to your Estate. Your Will can then specify the disbursement of funds in your estate.