Costs at Cumberland View in Wheelers Hill explained
Retirement village costs are one of the first things people want to understand – and one of the last things anyone seems to explain clearly. If you have been searching online and come away more confused than when you started, you are not alone.
At Cumberland View Retirement Village in Wheelers Hill, we believe you should have all of the facts before you make any decisions. So here is an honest, plain-language breakdown of what it costs to move in, live here, and eventually leave.
What you are buying – and what you are not
When you move into Cumberland View, you are not purchasing the home outright in the traditional sense. Instead, you enter a long-term lease – 99 years – that gives you the legal right to live in your home and enjoy full access to the village and its community.
This is different from conventional home ownership, and it is worth understanding before you go any further. You are buying security, community, and a lifestyle – not a freehold title. For many people, once they understand what that actually means in practice, it makes a great deal of sense.
The entry contribution
To move into Cumberland View, you pay an entry contribution. This is the main upfront payment that secures your right to live in the home you choose.
At Cumberland View, entry contributions currently range from $350,000 to $1,100,000 depending on the size and style of the home. A smaller 2-bedroom home will sit at the lower end of that range; a fully renovated architect-designed premium home will sit higher.
Before you reserve a specific home, a holding deposit of $2,500 is payable. This is simply to take the home off the market while you work through the details. There is no waiting list fee at Cumberland View.
Monthly fees
Once you are living at Cumberland View, you pay a monthly maintenance charge. This covers the day-to-day running of the village – the team who look after the gardens, maintain the community facilities, manage the emergency call systems, and keep everything running smoothly on your behalf.
Currently monthly maintenance charges at Cumberland View range from $601.76 to $752.20 depending on your home type. This is reviewed annually and can only increase in line with Melbourne CPI – it cannot be raised beyond that without residents approving it by special resolution.
Your monthly charge covers water rates and usage, council rates along with contribution to the village’s capital maintenance fund, and all communal facilities. It does not cover your personal utilities – electricity, phone and internet are arranged and paid directly with your own providers, as you would anywhere else.
The Deferred Management Fee – what it is and why it exists
The Deferred Management Fee, or DMF, is the part of retirement village costs that most people find confusing. It is worth taking a moment to understand it clearly.
The DMF is not an ongoing fee. It is a payment that applies when you permanently leave the village – whether that is because you are moving to aged care, moving to be closer to family, or any other reason.
At Cumberland View, the DMF is calculated at 6% of your original entry contribution per year of residence, up to a maximum of five years. That means the most you will ever pay is 30% of your entry contribution, regardless of how long you stay after that.
So if your entry contribution was $560,000 and you lived at Cumberland View for five or more years, the maximum DMF would be $168,000. If you stayed for three years, it would be $100,800.
The DMF helps fund the ongoing maintenance and improvement of village infrastructure – the pool, the gymnasium, the bowling green, the community spaces. It is a contribution to the community you lived in, not simply an exit penalty.
Importantly, Cumberland View neighbours do not share in any capital gain or loss on their home when they leave. The exit entitlement is simply the original entry contribution, minus the DMF and any outstanding charges.
What else to budget for on exit
When you leave, your home needs to be returned in the same condition as when you moved in, allowing for normal fair wear and tear. If any reinstatement work is required, you would be responsible for those costs. You would also be responsible for removing your belongings within the timeframe set out in your contract.
Legal costs associated with ending your contract are also payable, at reasonable rates.
A note on comparing villages
Because the Victorian Government requires all retirement villages to use the same standardised Information Statement format, you can compare Cumberland View directly with any other village in Victoria on a like-for-like basis. We publish our current Information Statement on our website, and we are happy to provide it to you directly on request.
If you are comparing villages, look carefully at the monthly maintenance charge range, the DMF percentage and cap, whether council rates are included, and what optional services cost. These are where the real differences between villages tend to show up.
Where to go from here
Understanding the costs is an important first step. But numbers on a page only tell part of the story. The best way to understand whether Cumberland View is right for you is to come and see it for yourself.
Our team is available Monday to Friday, and we would be happy to walk you through a personalised costs breakdown for any specific home you are considering – no pressure, no obligation.
For those who are retired and ready to explore a connected, low-maintenance lifestyle on 34 acres in Wheelers Hill, we think the numbers – and the community – speak for themselves.
Contact us to arrange a tour or request a printed costs summary, or call us on 03 9795 9166.
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Cumberland View Retirement Village is located at 101 Whalley Drive, Wheelers Hill VIC 3150. Our Information Statement is available on request and published on our website in accordance with the Retirement Villages Act 1986 (Vic).
