Moana Mews Retirement Estate

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Reviews of Moana Mews Retirement Estate

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  Paul Hampton-Smith Added September 01, 2018

  ★ ★ ☆ ☆ ☆
  This has been a comfortable place for my parents to live in their later years.  Their unit was cosy, the gardens and facilities were pleasant, and they were close to shops and their beloved church.
  
  But now having seen how little has been returned to my father from the sale of the unit, I suggest you consider very carefully the quality of investment in comparison to other real estate options.
  
  On sale, the unit my parents lived in returned a net of only 65% of their original payment, in an area which has enjoyed a 24% rise in median real estate value over the last ten years.
  
  The drop to 65% came from three main reductions defined in the contract
  1. The starting reimbursment was 75% of the value at which the unit was sold
  2. Minus a substantial sum for refurbishment of the kitchen and other expenses
  3. Minus a large contribution to the site sinking fund
  
  These figures do not include the fact that they also paid maintenance throughout their 12 year stay, most recently at $210 per fortnight.
  
  This has served a big lesson for me in my plans for my own retirement. At the time of writing, there are a few examples of units and small houses around the broader Moana area at comparable prices. It makes better financial sense to buy one of those, paying a little more if possible, and allocating $210 per fortnight towards a maintenance budget. A good return from the later sale is of great benefit when it comes to paying for a move to a full care facility.
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  kazz patrick Added March 13, 2018

  ★ ★ ★ ★ ☆
  Beautiful place but I think pricey

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