Goodwin operates on a Deed of Loan and Licence (Deed) agreement. The Deed is the formal contract between Goodwin and you, and sets out all of the conditions and responsibilities of both parties.
You are free to terminate your Deed of Loan or Licence when you choose. Goodwin requires appropriate notice as outlined in the Deed.
A Deed of Loan and Licence gives you an ongoing licence to live in your apartment or townhouse. This does not mean you own the property; however, you do have a licence to live there.
- Choose your apartment or townhouse.
- Agreement to enter into a Deed of Loan and Licence (2 copies) are forwarded to you within 24 hours.
- The signed agreements should be returned to Goodwin following the allowable 14 day review period together with the payment of the Processing Fee—$5000.
- On completion, the executed version of the Deed will be issued (see step 2 of Buying An Existing Unit).
- Choose your apartment or townhouse.
- Deed of Loan and Licence is forwarded to you within 24 hours (2 copies).
- The signed Deeds should be returned following the allowable 14 day review period together with deposit amount. Where a Processing Fee and/or an application administration fee have been paid, these amounts will be deducted from the deposit amount required to be paid—$10,000.
- Full settlement of the Loan amount to be paid within 42 days after the Deed is executed (i.e. signed by resident and signed and dated by Goodwin). However Goodwin will work within your timeframe should you require a longer settlement period.—Outstanding amount of the Loan.
There is a General Services Levy (GSL) applicable to each apartment or townhouse – also known as a “Maintenance Fee”. This covers the cost of operating the village, including grounds maintenance, property repairs, insurances, rates, common area lighting and cleaning, operation of the Lifestyle Centre/Activity Centre, village administration etc.
- An annual budget is prepared for each village. It sets out they way Goodwin proposes to spend the money received from the GSL during the financial year.
- The GSL is calculated by distributing the village expenses proportionately to each apartment or townhouse.
- The method of calculation does vary from village to village and may be based on apartment or townhouse size.
- As an indication, Goodwin’s current levies are in the range of $400-$530 per month.
- The GSL is calculated daily and payable monthly (in advance). A Direct Debit payment arrangement is put in place to pay this levy (essentially a “set and forget” arrangement).
A Departure Fee (formerly Deferred Management Fee) is deducted from the Original Loan amount for each year the licence operates. The amount is calculated on a daily basis, capped at 10 years (i.e. the period the resident occupies and has possession of an apartment or townhouse up to the tenth year). When the Deed is terminated you will receive 30% of any capital gain/loss, which is added to the final payout of the Loan. The individual property valuation, determined by independent registered valuers engaged by Goodwin, is used for determining the initial capital gain or loss. The capital gain/loss and final payout calculation is determined by the value of the new in-going contribution paid by the new resident.
Valuations are as at the 30th of April each year. Residents will receive a statement from Goodwin detailing these calculations on an annual basis. This will be the valuation applied to the property should the Deed be brought to an end during the following 12 months. Goodwin does not have a Departure Fee amount at the date of entry (i.e. a “flag fall” deduction).
Any outstanding personal services fees, as well as required repair for non wear and tear costs may also be deducted from the final payout.
No. You will not have to worry about selling your apartment or townhouse after you leave. Goodwin takes care of this for you so your experience is as stress-free as possible.
In most cases Goodwin will repay all amounts owing to you within 14 days of terminating the Deed. In any event, Goodwin is required to pay out the loan after the Deed is terminated; or at the earlier of 6 months from the Deed expiry, or 14 days after Goodwin has received a new Deed from a new resident to the apartment or townhouse.
No. Refurbishment is the responsibility of Goodwin, unless wilful damage by the resident has occurred.
Yes. Goodwin offers personal services and in-home care to assist people in remaining independent in their homes. Many of our independent living residents utilise these services to assist with things such as personal care, cleaning, laundry, meal preparation and transportation to appointments. Services are tailored to individual needs.
Both Government funded and fee-for-service packages are available at Goodwin. If you are not eligible for government-funded Home Care Packages, you can choose to “buy” personal services (i.e. linen services, domestic, meal preparation, transport, care etc) from Goodwin. These services will attract different hourly rates and can vary from time to time.
Where a resident chooses, personal services may be offset against the Loan subject to Goodwin approval. There is an interest charge on the amounts offset against the Loan, calculated at our current bank’s business overdraft rate plus 1%. For information, call our Community Care team on (02) 6175 5650.
All residential care places are subject to Government assessment and availability. Goodwin makes every effort to assist you in accessing additional care if your needs change. The benefit of being an independent living resident at Goodwin means we already know you. Should a transition be possible, your move into a Goodwin residential aged care facility can occur with familiar faces and in surroundings that you and your family are comfortable in.
Apart from all of the services and facilities available to you as an independent living resident, there are many other high quality services we can provide to make life easier.
Goodwin Wellness Centre
Independent living residents have access to the Goodwin Wellness Centre, providing a range of services to help you live according to your full potential for wellbeing, stay independent and enjoy quality of life. The Centre offers access to a range of bulk-billed health professionals – all in one convenient location, at Goodwin Monash (available to residents of any Goodwin village). Services include allied health such as physiotherapy, podiatry, and dietetics; a specialist aged care nurse practitioner and a geriatrician; working together for a collaborative integration of your health care. There are also follow-up services such as group fitness, wellness, flexibility and mobility training; and mobilty aids and health products. Transport is available from other Goodwin villages.
Day Clubs offer an opportunity to spend a day out, meeting new friends and enjoying games, shows, outtings and the like. Goodwin can transport you to and from the Day Club, and the day includes lunch and morning tea. For information, call our Community Care team on (02) 6275 5650.
Respite Care is also available through Goodwin Community Care, to offer assistance to those loved ones who may be caring for you or your partner. For information, call our Community Care team on 6175 5650.
Goodwin residential aged care accommodation gives you and your loved ones daily ongoing support in a home-like atmosphere. Our dedicated nursing staff are available 24 hours each day and we can look after your daily needs. Residential aged care also gives you access to allied health specialists and support services when needed, including an on-site geriatrician and Goodwin’s own aged care specialist nurse practitioner. Subject to availability, Goodwin operates low-care, high-care and dementia-specific services helping clients stay within the Goodwin family as their needs change. Goodwin has residential aged care options conveniently located in our Ainslie, Farrer and Monash villages. To learn more, please call our Admission team on (02) 6175 5192.
Goodwin provides apartments and townhouses specially designed for people aged 60 and over. Goodwin offers a variety of 1, 2 and 3 bedroom properties. Independent living means you have your own architecturally designed, self-contained home and enjoy being in a village where you can live the way you choose. You can participate in an active, happy and social lifestyle with access to the numerous facilities within the village, or just relax and do your own thing.
Goodwin sets a new standard in retirement living. In Goodwin independent living apartments and townhouses you don’t have to worry about the repair and maintenance of your home because we’ll manage it for you. This allows more time to do the things you enjoy.
You can enjoy a sense of security in a like-minded community, along with freedom to come and go as you please. Villages have security patrols; and Goodwin will even hold your mail for you while you are away for extended periods.
Each independent living community has its own unique lifestyle facilities and Lifestyle Clubs that include cafe, pool, gym, cinema, bowls green, billiards and business centre.
Each independent living village has a dedicated Lifestyle Officer to organise activities such as day trips, happy hour, exercise & yoga classes, hobbies and events.
You can also access our innovative health and wellbeing programs.
Independent living apartments and townhouses are ideally situated in Goodwin’s community based villages conveniently located in inner north Canberra (Ainslie), Woden (Farrer), Tuggeranong (Monash) and Gungahlin (Crace – The Central by Goodwin).
Simply by registering your interest with our Sales Office. Goodwin maintains a Register of Interest list to record all people who are interested in moving into a Goodwin independent living apartment or townhouse.
Property allocation is based on the date you registered your interest. For example, if you are interested in purchasing the same property as another person (which does happen) but you registered before the other person, then you are allocated the property because you have been on the list longer.
There are many reasons why people decide to move into an independent living apartment or townhouse, and it varies from person to person. Generally, people are ready to move into Goodwin when they are ready for a lifestyle change. Most residents tell us they made the decision because they wanted to make the most of their retirement through the benefits of a maintenance-free home, freedom to come and go as they please and the comfort that comes with a vibrant and safe community environment. We often hear that residents wish they had moved in sooner.
Goodwin welcomes all family and friends and we encourage you to invite visitors to your home, or to lunch or coffee at one of our cafés. Visitors can stay at your apartment or townhouse because it is your home, but we do ask that you tell us if you have friends or relatives staying, and that guests abide by village rules to ensure the comfort of every one.
Our professional and helpful Sales Office is ready to assist with any questions and/or arrange a free personal visit to the Goodwin village of your choice. To book a free personal visit, call our Sales Office on (02) 6175 5000 or email@example.com.