All Saints Court Retirement Village is ideally situated opposite All Saints’ Church and within walking distance of doctor’s surgeries, parks, a chemist and other small shops. Singleton town square is situated approximately one kilometre from All Saints’ Court.
Priced from $200,000 to $250,000 these one and two bedroom units are in a landscaped area with open courtyard – the emphasis is on ensuring your personal privacy, yet with the advantage of having people of similar age and interests around you.
These spacious units feature quality inclusions (floor coverings, light fittings, ceiling fans, air conditioning, vertical drapes, skylights etc) furnished to your own taste (at your own cost). The unit of your choice will really become your home – in every sense of the word. Provision has been made in each unit for television and telephone.
Funding is known as equity housing – and an example of the funding arrangement is given below.
Even though All Saints’ Court is equity housing, we are also able to also rent units in some circumstances. Rent is priced between $190/week and $280/week. Garage is still an additional expense to the rent.
Example: for a two-bedroom unit – a loan of $240,000.00 is made to the management committee by the occupier.
An occupancy charge of 6% of the loan per annum is payable on vacating the unit – this is deducted from the initial loan (maximum 5 years).
On vacating the unit and an occupier provides a loan to the management committee of $165,000.00 – i.e. $10,000.00 capital appreciation – 25% of this capital appreciated is paid to the person vacating the unit.
E.g: Supposing at the end of three years you decide to leave the unit, and supposing that the person who takes over the unit from you, loans the parish $145,000.00 for the privilege;
Loan from new occupier $165,000.00
Less original loan from you $155,000.00
Capital appreciation for 3 years $ 10,000.00
The Capital appreciation is split:
3/4 to the Parish $7,500
1/4 to you $2,500
Your original loan to the Parish was $155,000.00
The occupancy charge for 3 years @ 6% $ 27,900.00
To be returned to you $127, 160.00
After a period of 3 years and a loan from your successor to the parish of $165,000.00, you will receive:
Original loan less occupancy charge $127,100.00
Your share of Capital appreciation $ 2,500.00
Amount refundable $129,600.00
Please note, these figures are an example only, but show the method of equity housing being used in the Parish. Should an occupier die, this same method of calculation would be used in determining the a mount to be paid to the executors of the estate.
Monthly Management fee of $215.96* (subject to annual revue), covers rates, water rates, insurance of buildings, grounds maintenance, pest control and other general maintenance of the property. Monthly garage rental $24.04* (if available).
NOTE: CAPITAL GAINS CANNOT BE GUARANTEED AT EACH CHANGE OVER OF UNITS.
NOTE: The Anglican Parish of Singleton conducts the retirement village on behalf of the Anglican Diocese of Newcastle.
NOTE: *Fees are current as of May 2022.
