What’s it like in Metlifecare Villages?
Metlifecare are proud to have the widest selection of villages in Auckland, Bay of Plenty and the Kapiti/Manawatu regions, plus wonderful villages in The Bay of Islands and Hamilton. So, whether you’re looking for an urban lifestyle with city access, or a beachy lifestyle, we’ve got you covered.
Our regional cluster approach means we can offer a full spectrum of living options in your area, so if a required level of care is not available at your village, it will be available at a nearby village. To make things easier, there are no fees for transferring from a Metlifecare independent living unit to a Metlifecare serviced apartment.
Hear what residents think of living at a Metlifecare Village
Retirement villages are purpose-built communities designed to suit the lifestyle needs of their residents.
That’s the simple definition but there’s also much more to it than that. Finding a retirement village that’s a great fit for you and your needs can feel like the best of both worlds – a holiday with all the benefits of home.
More and more New Zealanders are choosing to live in retirement villages, enjoying the range of facilities, activities, and social benefits on offer. It’s a way of life that leads to greater social interaction and more opportunities for companionship – which has been shown to improve health outcomes. In fact, research shows that retirement village residents live around five years longer than average.
There are many different types of retirement village, each with their own unique location, facilities, services, accommodation options, and sense of community.
If you’re considering retirement village living, it’s vital to choose somewhere that not only caters for your unique personality and interests, but also provides the things that will help you live your very best life in retirement.
What you’ll pay – and what you’ll get
How do you buy into a retirement village, and what will you get in return?
Occupation Right Agreements (ORAs)
Retirement villages typically operate under a type of contract called an Occupation Right Agreement (ORA). Other types of arrangements are also available – for example renting and capital gains sharing – so you can work out your best option based on your priorities and financial situation.
An ORA is different from a normal Sale & Purchase Agreement. It gives you the right to live in your chosen unit and use the village facilities and sets out the terms and conditions of your occupation. It’s a legally binding agreement between you and the village operator, so we recommend you seek good legal advice before signing.
When you’ve signed and settled the ORA, you’ll pay a Capital Sum – the purchase price you have negotiated, which will vary depending on the particular property you’re interested in.
Most villages also charge some kind of weekly fee. The weekly fees are used to cover costs like rates, insurance, maintenance, repairs, staff wages and gardening. This could be a fixed fee or could vary. Some operators, including Metlifecare, offer a fixed weekly fee for life – which eliminates the hassle and stress of paying multiple fees and allows you to budget for the future. Check what services are included within the fee (e.g. rates, repairs, phone, internet) and which ones you’ll need to organise yourself.
Deferred Management Fee
Once your unit has been re-licensed, you’ll be refunded the original purchase price minus a ‘Deferred Management Fee’ (DMF).
The DMF covers a range of costs including:
- Legal and settlement fees
- Long term village maintenance
- Community facility chattels
- The refurbishment of your unit after you leave
- The re-licensing of your unit, which includes all marketing activity.
At Metlifecare, the DMF is capped at 30% of the original Capital Sum of your unit, accruing monthly at 10% per year for the first three years of occupancy.