Button House retirement homes fees explained
Retirement made easy
When you move into your new home at Button House, we want life to be as easy and stress-free as possible.
Our not-for-profit fee covers many of the basic living costs that we all need to pay, which means you don’t have to worry about unexpected bills.
Our monthly Concierge Fee, which is reviewed annually, is designed to keep things simple for you, taking care of the many jobs that come with looking after a property and providing you with all the support, activities and amenities you need to live your life to the full. If you rent your property, you will pay a monthly Essentials Rent. Residents are responsible for their own utility bills and council tax.
You pay for your own private use of heating, electricity and hot and cold water supply.
If you sell your home, you will pay a Deferred Management Fee (DMF) of up to 15% of the property value; an Estate Agency Fee of 1% of the sale price achieved; and an Administration Fee of at least £500. Please see ‘What happens if you sell your home?’ below for further information.
Here's all you need to know about our fees at Button House...
What's included in your monthly fee
Here's a breakdown of what your fee covers:
24/7 on-site support
You and your loved ones will have the peace of mind that our friendly and caring on-site team will be there for you at any time of day or night if ever you need them.
Organised events & activities
You can look forward to a wide range of social and leisure activities each day, from yoga and Pilates, to wine tasting, cookery, gardening clubs, and much more. Please note, some activities or outings may incur a charge.
Keeping your community areas clean and well-maintained, including housekeeping and ensuring that your community grounds look attractive.
Comprehensive buildings insurance is covered by your fee, as standard.
Your fee covers all on-site and off-site administration, managed and operated by Brio Retirement Living.
Including the communal lifts, CCTV, heating, hot water systems, fire alarms, call systems and communal lighting.
Exclusive resident-only benefits
As a resident, you’ll enjoy the following exclusive benefits:
- Exclusive resident rates in the Slate & Grain brasserie, bar and coffee lounge.
- Unlimited use of the homeowners’ club lounge and hobby room.
- Unlimited use of the fitness suite and outdoor exercise equipment
- Exclusive access to the landscaped grounds.
- Support from your General Manager and community team.
- Free IT advice, support about your home and help with paperwork/bills.
- Free use of Wi-Fi in communal areas.
Additional services available to you
We understand that no two people are alike. We all have individual needs, wants, and requirements.
That’s why we offer a wide range of additional services that you can include for an additional cost as and when you need it. Plus, we regularly review your needs to make sure we deliver the right level of support for you.
Our optional services include:
Care and Support
A range of flexible care and support services are available, tailored to your suit individual needs.
We can help to take care of everyday chores so that you can focus on enjoying your free time. Support is available to help with:
- Laundry & ironing
- Preparing meals
- Spring cleaning
- Oven cleaning
Home maintenance service
Our experienced tradesmen can carry out repairs and maintenance within your property, such as picture hanging, redecorating or odd jobs around the home.
Secure covered parking is available at Button House, which is limited to 25 spaces. This is offered on a first come first served basis. The fees are £350 for three consecutive months, or £1,000 for 12 consecutive months.
A shopping/escort service is available for a member of staff to accompany you to appointments or on shopping trips.
Care can be provided by our trusted partner, registered by the Care Quality Commission in England, providing reassurance that you or your loved ones will be receiving consistent, professional and personal support.
Residents are entirely free to use other care providers if they wish.
How we calculate your fees
We understand that you want to make sure that your money is well spent. That’s why we work hard to keep your fee as low as possible by calculating all of our costs on a not-for-profit basis. This means we can simply pass on the costs of providing the services you need without any extra mark up.
Our Slate & Grain brasserie, bar and coffee lounge is also open to the general public. While you enjoy discounted prices on all food and drink, non-homeowners pay full price, generating extra income which can then be used to offset our overall weekly costs and subsidise your fee.
How our fees compare
Why not take some time to look at your current living costs, together with the effort and expense required to run your home to see how it compares? With our monthly fee, we can take away these worries, so that you can live your retirement years to the full in our Button House community.
Fixed annual fees and fair increases
For added peace of mind and to allow you to accurately budget for the year ahead, our fees only ever increase once a year, on 1st April. Any increases will be based upon the previous December retail price index (RPI) percentage figure supplied by the ONS (Office for National Statistics).
In the event of a rise, we always give you at least a month’s notice of the RPI percentage increase for the following year. And to make sure we consistently deliver good value, we regularly consult homeowners about the services we offer.
Disclosure of interest
We do not have a financial interest in any other firm involved in running our retirement communities or receive any incentive or commission from third party suppliers relating to any of the services paid for by homeowners through the fee.
Deferred Management Fee
If you decide to sell your home, a Deferred Management Fee (DMF) of up to 15% of the property value will be payable. Please see section below for further information on this fee.
Disclaimer: We would always recommend that you seek independent financial advice before making any long-term financial decision.
What happens if you sell your home?
If you decide to sell your home, an administration fee is payable on resale to cover our costs in processing sale documents, dealing with solicitors’ enquiries and signing documents. The fee may vary but will be at least £500 including VAT.
You must give us notice of your intention to sell your home, in accordance with your lease. We then have six months within which to decide to buy the property or to nominate a person or charity to do so.
If we decide not to buy back your property we have the right to market it for resale for a period of six months. A fee of 1% of the sale price achieved is payable for our estate agency services. After that you can engage external estate agents if the property remains unsold.
Deferred Management Fee
When you sell your home, a Deferred Management Fee (DMF) of up to 15% of the property value will be payable. This fee is calculated on a sliding scale depending on length of time you have owned your home prior to selling and is capped at 15%.
The sliding scale is as follows:
- < 1 year from initial purchase: 0%
- Year 2 following initial purchase: 4%
- Year 3 following initial purchase: 8%
- Year 4 following initial purchase: 12%
- Year 5+ following initial purchase: 15%
No unexpected bill
From time to time, it may be necessary to make major repairs to the lifts, roofing, windows, doors, driveways, paths, rainwater guttering or fencing. To ensure that you don’t have to worry about receiving any sudden unexpected bills, part of the Deferred Management Fee payable on resale goes into a sinking fund to cover these costs.
This fund acts as a ‘homeowners reserve’ to help offset the cost of major repairs, replacements or improvements within the community. To make sure that this reserve is large enough to support the community’s future needs, we also regularly carry out professional surveys. This means you can rest assured that no additional payments will be due when major works are required.
You will contribute to the sinking fund when you resell the property.
Rental made easy
Our Essentials Rent
We understand that having flexibility and security of tenure is essential for those who choose to make Brio their primary home. Our assured tenancies offer you the freedom to stay in your home for life, should you wish. With Brio, you can rest assured that your future is secure Our team of dedicated professionals takes care of all the necessary maintenance, including building repairs, window cleaning and lawn mowing, so you can focus on the things that matter most to you. You’re in charge of your finances, and our Essentials Rent guarantees that you’ll know exactly what you’re paying each month.
Find out more
For further information on our not-for-profit fees, please speak to a member of our team on 0208 773 2838.