2 & 3 Bedroom $132.40 per week
The cost to operate the Village is funded by the residents through the payment of Weekly Recurrent Charges.
The Weekly Recurrent Charges fund the costs associated with the day-to-day management and maintenance of the Village.Additional costs for you are your personal utilities (telephone and electricity) and contents insurance.
Please Note: Weekly Recurrent Charge is reviewed and amended annually at the end of the Calendar Year. Additional details are included in the Public Information Document.
The Total Operating Costs funded by the Weekly Recurrent Charge include (but are not limited to):
The nature of this right means that you will not need to pay stamp duty or GST.
The purchase model that Oak Tree offers means that you will pay a departure fee, commonly known as an exit fee, when you leave the village. This is the most commonly used model used by retirement village operators and is unique to the retirement sector.
The departure fee gives us the flexibility to discount the purchase price of a unit upfront for similar or comparable property in the local area. The departure fee is not a penalty, it is an opportunity for residents to fund a better-quality lifestyle by maximising residual capital from the sale of their current home.
While you are not purchasing the freehold title to your unit, you will be a registered interest holder of a long-term lease, with all the protections afforded by the Retirement Villages Act 1999 (NSW), your tenure will be fully secure.
When you leave the village, the right to reside in your unit will be resold to a new resident. When this happens, Oak Tree will pay you an exit entitlement (by way of refund of the Ingoing Contribution that you paid), less your departure fee and some ancillary costs (as detailed in your Residence Contract).
We will fund all refurbishment costs to ensure the dwelling is returned to saleable state.