A Retirement Village where you will be Financially Better Off
Quite simply at Karaka Pines Regency Park Estate when you come to sell your unit you are likely to receive a lot more money than in most retirement villages.
At Regency Park when you sell your unit in the village you receive the sale price of your unit. Over the years while you are enjoying life in the village your home is likely to be increasing in value. When you come to sell we beleive you should receive the value of that. Thats just fair.
At other villages when you sell you only receive the price you paid for the unit. That can be a lot less than what is worth when you come to sell. All of the increase goes to the village management.
In addition to this our Facilities Fees (often called a Deferred Management Fee) is less than many villages. Facilities Fees are deducted from the money you get back. At Regency Park we have a Facilities Fee of 20%, whereas most villages have Facilities Fees anywhere up to 30% .
As an example if in Karaka Pines Regency Park you buy a unit for $400,000 and then when you leave you sell for $500,000. What you will receive is the sale price, minus the 20% fee (20% of $500,000 is $100,000), meaning you end up with $400,000.
In a traditional village with a 30% fee you will only get back $280,000 after selling the unit for $500,000. This is because you only get back the buy price of $400,000, less 30% being $120,000, leaving you with only $280,000. The Village Operator takes the other $220,000!
That’s just not fair!
We figure it should be more like normal home ownership. You’ve paid for the home, so if the prices go up then you should be the one who gets the benefit and not the village operator.
Like in your own home you do have to pay for the general running costs. So there is a weekly fee of $180 that covers all the costs of being in the village, including a fund that covers any large unexpected costs.
Keeping the village to a good standard is important for maintaining the value of the units. Your part in this is to keep the unit to a good standard. Refurbishing your unit to a near new condition prior to selling will mean you get more for the unit when it comes to sell.
When selling you have the choice of your own Real Estate Agent or you can use the village management. When selling through village management we only charge the actual costs of advertising and marketing your unit.
The village facilities and ambience combined with being very close to local amenities add value to your property. Our excellent standard of service and well-designed village ensure you will be significantly better off than under the traditional retirement village model. We think this is only fair.