If you’re considering moving into a retirement village, you want transparency and simplicity when it comes to understanding everything from costs to ownership.
Securing your property at Koorootang Court is simple. All you need is a $1,000 reservation fee, after which you will be given a contract and the time required to review it thoroughly. The contract will explain in detail the type of ‘tenure’ you will have for the property. At Koorootang Court the tenure is a mix of strata title and leasehold homes. As with any legally-binding agreement, it is strongly recommended you consult a solicitor. If at any point before signing the contract you decide not to go ahead with the purchase, your $1,000 is fully refundable.
In addition to the purchase price, there will be an ongoing service fee or levy to cover the day-to-day operating costs and the upkeep of the village. When you sell your property, you will need to pay a Deferred Management Fee (DMF), as well as other fees which are referred to in your residence contract.
Koorootang Court has a village manager who is onsite during business hours and is responsible for the day-to-day administration of the village. If you have any questions or concerns, your village manager will endeavour to address them as swiftly and mindfully as possible. You are also encouraged to have a say in how your village is run by sharing any ideas you may have with your village manager and participating in the residents' committee meetings.