Cost – ORA & Fees

Independent Living – Units

Occupation Rights Agreement

The Dutch Village Trust owns all the property within the Village.

Residents of the Village receive a contractual Occupational Rights Agreement for the Residential Unit. This license does not grant the resident any interest in the land relating to that Residential Unit.

Individuals moving into the Village purchase an Occupation License for one of the villas which entitles them to live in that unit for the remainder of their life.

Occupation Rights Agreement

What happens if I leave a unit or a studio?
The Occupational Rights Agreement has two components:

  • A fully refundable portion totaling 70% of the purchase price.
  • A 30% Village contribution.

One-third of the Village contribution amortizes on the commencement date of the license and the remaining two-thirds amortizes over the first three years. Any unamortized amount is refunded.

Removal of Asset Testing

From 1 July 2018, single people and couples with both partners in care will be able to keep up to $227,125 in assets (including both property and savings) before their assets are used to contribute to their cost of care.
Couples, where one partner is in care, will retain their current exemptions of a house and a car, while their cash asset exemption rises to $124,379. The exemption thresholds for all groups will then increase by CPI on 1 July every year.

Unit Prices

Prices are approximate:

  • One-bedroom unit: $480,000 – $500,00
  • Two-bedroom unit: $570,000 – $580,000
  • Three-bedroom unit: $620,000 -$650,000

The Trust Board reviews the costs for each unit type on an annual basis. As a result, the above fees are subject to change.

Monthly Maintenance Fee

A monthly maintenance fee applies to each unit which goes toward the running of the Village. This fee covers, among other things, rates, water, exterior maintenance, house insurance, and garden maintenance.
Monthly maintenance fee:

  • One-bedroom unit / Care Centre studio – $454 per month
  • Two-bedroom unit – $464 per month
  • Three-bedroom unit – $479 per month

The monthly maintenance fee is subject to an annual review by The Dutch Village Trust Board and is increased where necessary to cover any additional costs. Therefore, the above fees are subject to change.

Is there any additional cost?

Individual Villagers are responsible for the costs of Contents Insurance, power and telephone.