What are the costs of Verve? Example Scenarios
Two example scenarios are included below, for your information only. These examples are only illustrative. St Ann’s does not guarantee that the value of your unit will increase during the period of your occupation and it may, in fact, decrease. St Ann’s does not provide financial advice and strongly recommends that you seek advice from your financial adviser.
Example 1: Five years living in your Verve apartment:
| Ingoing Contribution for Verve apartment: | $345,000.00 | |
| + Monthly Service fee: | $303.30 per month | |
| 5 years later when you move out of your Verve apartment: | ||
| Replacement Ingoing Contribution: | $445,000.00 (Estimate only) |
|
| Deferred Management Fee is 2.75% of $345,000.000 multiplied by the number of years you have occupied your apartment | $47,437.50 | |
| 50/50 share of capital gain | $50,000 | |
| Inspection/Sale/Marketing Fees | $400.00 (fixed fee) $8900.00 (variable fee = 2% Replacement Incoming Contribution) |
|
| Amount refunded to you | $338,262.50 | |
Example 2: Twenty years living in your Verve apartment:
| Ingoing Contribution for Verve apartment: | $345,000.00 | |
| + Monthly Service fee: | $303.30 per month | |
| 20 years later when you move out of your Verve apartment: | ||
| Replacement Incoming Contribution: | $645,000.00 (Estimate only) |
|
| Deferred Management Fee is 2.75% of $345,000.000 multiplied by 15 | $142,312.50 | |
| 50/50 share of capital gain | $150,000.00 | |
| Inspection/Sale/Marketing Fees | $400.00 (fixed fee) $12,900.00 (variable fee = 2% Replacement Incoming Contribution) |
|
| Amount refunded to you | $339,387.50 | |