Frequently asked questions
Who can live at Pascoe Vale Gardens?
You must be an Australian Resident aged 55+. If you are under 55, you can live with your spouse who is 55+, or be 55+ and have your dependent children live with you.
What type of Retirement Village contract are properties at Pascoe Vale Gardens purchased under: Strata Title, Leasehold, or Loan/Licence?
Properties at Pascoe Vale Gardens are owned outright by the residents under Strata Title. Strata Title is essentially Freehold Title plus shared use of common areas. The same as purchasing a unit on a multi unit site or an apartment in an apartment building. So the resident owns their property outright, their name/s is listed on the title and lodged with the Titles Office and Owners’ Corporation Fees are paid for the maintenance of common areas.
Strata Title ownership also affords residents a more powerful voice when it comes to how the village is run. The Owners Corporation Committee is run by residents for the residents, with a representative from Village Management present. Strata Title purchase does attract State Government Stamp Duty however, this tax may be waived given the residents’ personal circumstances and correct professional legal &/or financial advice.
What fees are applicable at Pascoe Vale Gardens to buy a property? Are there exit fees? Does State Government Stamp Duty apply? ￼
Before a resident moves into the village, they purchase the property. State Government Stamp Duty may be applicable; purchasers are encouraged to seek legal &/or financial advice. $1,000 “Expression of Interest” deposit is paid and the property reserved for 3 weeks, after which time the property is purchased outright (Strata Title). Settlement terms available up to 16 weeks.
When the resident moves in and during their residency in the village, Weekly Service Fees are charged. Depending on the type of the accommodation chosen, these fees differ, but all include as a minimum, Owners’ Corporation Fees, common area maintenance, building and public liability insurance, use of all the community facilities, emergency call button support. The Weekly Service Fee only changes in line with the CPI once at the beginning of the Financial Year.
After a resident sells a property, Deferred Management Fees are payable on settlement. Fees charged depend on the type of accommodation, duration of tenure and resale price for the property. A set re-establishment fee is also charged to market the village in order to attract buyers.
As properties are owned Strata Title, Pascoe Vale Gardens DOES NOT charge a Refurbishment Fee. This fee applies in Leasehold or Loan/Licence Retirement Village communities where the Management Company owns the village and takes a compulsory fee from the outgoing resident to refurbish the property to the Management Company’s specifications. At Pascoe Vale Gardens, residents choose whether they wish to refurbish their property in order to attract buyers and the best sale price.
Can I bring my pet, caravan or trailer?
Pets are welcome under certain circumstances. Application to keep a pet is made to the Owners’ Corporation Committee who will decide whether the pet can reside with its owner at the village. There are a limited number of
caravan and trailer parking spaces available for residents to reserve and once again, application is made to the Owners’ Corporation Committee for permission to use them.
Is there Aging In Place, nursing home or aged care facilities on site?
No. The entire Pascoe Vale Gardens community is independent. While residents receive support such as maintenance of gardens, restaurant facilities and emergency button support, we do not provide dependent accommodation. Aged Care Legislation (Provides for CARE. Dependent accommodation) and Retirement Village Legislation (Provides for SUPPORT. independent accommodation) are completely different. Aged Care accommodation deals with Government funding, bonds and pensions, while Retirement Living at Pascoe Vale Gardens is funded privately by the resident. Pascoe Vale Gardens provides onsite First Aid Qualified support to manage the 24 hour Emergency Call Button rather than doctor and nurse care.
While our Serviced Apartment accommodation provides meals, housekeeping and freedom from paying household bills, the lifestyle remains independent. There is no requirement for residents to be assessed and therefore qualify in order to purchase a property at Pascoe Vale Gardens. Should a resident require some extra care assistance such as showering, grooming, medication distribution or wound care, it is possible to source these services from outside organisations such as council, Royal District Nursing Service, etc. at the resident’s expense. Those assessed as High Care would be safer to choose Nursing Home (Aged Care) accommodation.
Can I stay at Pascoe Vale Gardens for respite or a short term stay to try it before I buy it? Or can I rent a property?
Yes. You can stay as a guest at Pascoe Vale Gardens from 1 to 4 weeks in a Serviced Apartment to determine whether life in the village is perfect for you (rates on application). All amenities are available to you through this “Short Term Stay” period to give you a true and complete experience of life in the village on a permanent basis.
And it’s possible to stay longer under a Short Term Licence Agreement if you intend to purchase a property at Pascoe Vale Gardens (conditions apply).
There are no rental agreements at Pascoe Vale Gardens. All properties are and must be owner occupied.
Can I set the sale price and source my own Real Estate Agent to sell the property?
It is the owner’s responsibility to set the sale price for the property and finalise negotiations with the prospective purchaser. Selling a property at Pascoe Vale Gardens is a regular real estate transaction and can be managed directly through your (vendor) solicitor with the purchaser’s solicitor without a third party Real Estate Agent.
You (as the vendor) are entitled to engage a Real Estate Agent to source a buyer, but it’s important to note that in
the event a purchaser is identified through them, the agent will still need to introduce the buyer to the Sales Department at Pascoe Vale Gardens in order to receive all information required under Retirement Village Legislation. It’s also important to remember that Authorised Real Estate Agents have the right to charge fees for their services, regardless of whether the buyer is identified through them or not.
This information is indicative. All information contained in these FAQs should be read in conjunction with the Village Management Agreement and Retirement Village Legislation. For a more comprehensive list of questions and answers about Pascoe Vale Gardens, please ask for a copy of our Factsheet by calling 1800 11 11 99 or sending a request through our website at pvg.com.au.