The entry costs at Metlifecare Retirement Villages are primarily centered around the purchase price of a licence to occupy. This price varies widely depending on the location of the village, the type of accommodation chosen (e.g., apartment, townhouse, or serviced apartment), and the specific amenities and services provided. The licence to occupy grants the resident the right to live in the property but does not convey ownership of the property itself.
Example Entry Cost: While specific numbers will vary by location and unit type, entry costs into a Metlifecare Retirement Village can range from approximately NZ$350,000 for the lowest cost one-bedroom apartment to over NZ$1,900,000 for premium accommodation options with additional space or enhanced views.
It’s important to note that these figures are indicative and subject to change. Potential residents should consult directly with Metlifecare Retirement Villages for the most current and accurate pricing based on their preferred village and living arrangements.

The Deferred Management Fee (DMF) at Metlifecare Retirement Village is a fee that residents pay when they leave the village, and it’s deducted from the resale price of their unit.
The DMF is calculated as a percentage of the original purchase price or the sale price of the unit, whichever is higher, and is usually capped at a maximum percentage. This percentage normally will accumulate over the first few years until it reaches the cap.
At Metlifecare, the DMF is called a Membership Fee and is capped at 30% of the original Capital Sum of your unit, accruing daily at 10% per year for the first three years of occupancy for independent living. Care suite membership fees are accrued slightly differently, but still capped at 30% of the original Capital Sum.
It’s important to note that the specifics of the DMF, including the percentage rate, the cap, and the accrual period, can vary between different Metlifecare villages or different contracts within the same village. Therefore, prospective residents should consult the specific terms and conditions outlined in their contract with Metlifecare Retirement Village for precise details.

The weekly fee is reviewed once per year and won’t increase more than the percentage change in the Consumer Price Index (CPI), helping to give you certainty over your annual outgoings. Please check your terms and conditions.

Yes

As you enter a village, it’s also good to check what the process is should you wish to leave. At Metlifecare,
for example, you simply need to write to the Village Manager and tell them you wish to give notice to terminate your
ORA. Once you have vacated your unit, then the process of re-licensing your unit will begin.
Check for any hidden costs of re-sale from the village operator. For example, Metlifecare won’t charge you for refurbishing
or the cost of selling your unit. Plus weekly fees and any DMF accurals stop as soon as your ORA is terminated and you have fully vacated your home.
Please verify with your contract.

At Metlifecare, there are no transfer fees if you move from an independent unit
to a serviced apartment. Please verify this and any other fees.

Metlifecare Healthcare mentions that if you want to move out of your unit, you’ll be refunded your capital sum (the amount you paid for your unit), less a deferred membership fee (DMF) and any other costs owing. Your DMF is capped at 30% of the capital sum you paid, accruing over three years. management fee.