In a Karaka Pines Village there are three fees. Firstly a fee for providing the facilities of between 10 and 25% (varies by village and choice of fee), secondly a weekly fee for running the village and finally a fee for renovating your unit.
Village Facility Fee
At Karaka Pines Villages the facility fee will be 12.5% – 20% of the sale price of your unit when you leave. In some villages you can discount the facility fee to 10% of your buy price if you choose to pay this upfront. This is in contrast with traditional retirement villages where they charge you 20-30% of the buy price of your unit and also take all the increase in the unit’s price over the time you are in the village.
Residents pay a weekly fee covering all aspects of running the village, the rates and insurance, maintenance, management, rubbish, communal power and overall upkeep. This includes a long term maintenance fund that ensures all big costs are covered so you won’t get a financial shock in the future. The weekly fee varies by village and unit but a guide would be in the order of $145.00 – $165.00.
In some villages there is an option to fix this fee at $100.00 per week, with the associated facilities fee being 25% of the sale price.