FAQ Palm Lake Resort Truganina
1 Andrew Road, Truganina, VIC 3029
“Freedom and Lifestyle for the Mature Young at Heart.”
Q. What else do I have to pay for when I buy a home?
A. Nothing at all. There are no entry fees or stamp duty, but we do suggest getting your own legal and financial advice.
Q. Can I option my home or are the homes unchangeable?
A. Of course you can option up your home and make changes so long as these are done before the home is built. Our builders will be happy to quote on any changes for you.
Q. Can I mortgage the home to arrange finance?
A. You may be able to arrange finance, but you cannot mortgage any legal property title to the home.
Q. What else do I have to do before I move in?
A. Your home is complete with floor coverings, appliances, reverse cycle air conditioning, window dressings, gardens, fencing and lawns and is only awaiting your furniture and personal touches.
Q. What title do I get; can I sell the home and what happens if I pass away?
A. You get a 99 year lease under the Residential Tenancies Act 1997 and all of the protection that the Act grants. Your agreement also outlines your rights. You can deal with your home the same as if it were a suburban freehold title. You can sell it, so long as the buyers are acceptable as residents for the Village. Should the unfortunate circumstance arise that you or your partner passes away; the same rights as in freehold title apply. The remaining resident get ownership or the estate gains control and is able to sell the home.
Q. Are there costs when I sell?
A. Yes, your Agreement sets out the exit fees that are payable when you leave the Village. These exit fees allow the Village owner to continually upgrade and maintain the Village to ensure the best possible sales results when you are ready to sell. You can sell using the Village management team or sell via an outside real estate agency.
Q. What fees do I pay to live in the Village?
A. This is the best news. You pay a site rental which entitles you, if you are on a pension, to apply for rental assistance to Centrelink. At present the fortnightly site rental is $278.00 and a couple on a full pension should receive a reduction to about $199.00 per fortnight. A single resident should receive a reduction to about $159.00 per fortnight. Please check with Centrelink for your particular circumstances. There are no other fees to pay. All facilities are free for you to use and there are no council rates. You must pay for your own electricity, gas, phone and internet and for any excess water use.
Q. Can these fees rise?
A. The site fees are subject to a CPI increase on an annual basis in January. Every three years the rental can be adjusted to represent a market rental level. This is common and need not necessarily mean that the increase is above CPI. It depends on how the market is performing. You have full rights to an explanation of this process and can appeal if you are unhappy with the result.
Q. What builders warranty do I get with my new home?
A. Palm Lake Constructions has been building these homes for over 30 years and is an Australian leader in the field. We offer our buyers the comfort of the same type of building warranty that is guaranteed under Victorian law. We have extended this to a 10 year warranty on all structural defects and a 2 year warranty on all non-structural defects. You can also rest assured that all of your new appliances will carry factory warranties.
Q. Once I enter into a contract to buy, how long will it take to build my home?
A. If Mother Nature is kind to us; your new home can be constructed in around 12 to 14 weeks.
Q. What happens if the Village owner goes into liquidation/bankruptcy?
A. Walter Elliott Holdings Pty Ltd is a major company with over 15 Lifestyle and Retirement Villages throughout Victoria, New South Wales and Queensland. Apart from our size and strength you have your rights under your agreement and the Act and in the totally unlikely event that this occurred, you would end up having a change of ownership of the village and life should go on as normal. No one can change your rights under the agreement without you agreeing.
Q. Can I lease out the home if I am not using it?
A. Sorry, but we are providing a village for owners who have a vested interest in a true lifestyle environment. Therefore we can’t allow any resident to let their home. We believe this is as important for you as it is to every other resident and to us.
Q. Can I have friends or relatives stay with me?
A. Yes, you can have friends stay with you for short term stays. This is spelled out in more detail in the village rules. You will need to provide notice and details to the manager and your guests must obey park rules.
Q. Can I have a pet?
A. Yes, we would love you to bring your small dog, cat or caged bird. Dogs and cats must be neutered and kept inside during night hours. It will be your responsibility to ensure that the pet does not interfere with the peace and enjoyment of the village by other residents.
Q. Why would I choose to live in a Village like this?
A. This answer is simple. You will share a lifestyle with similar like-minded mature residents, enjoy social events, healthy activities and camaraderie and build new friendships in a safe and secure environment. You can pack up and leave for that great adventure, all the while knowing that your home is safe and protected while you are away. If you want, you can sit back in peace and relax in your beautiful new home and rest a while before you begin your next activity or adventure. The choices are yours.