Independent Living – Villas
Occupation Right Agreement
The Dutch Village Trust owns all the property within the Village.
Residents of the Village receive a contractual Occupation Right Agreement (ORA) for the Residential Villa. This license does not grant the resident any interest in the land relating to that Residential Villa.
Individuals moving into the Village purchase an License to Occupy (LTO) for one of the Villas which entitles them to live in that Villa for the remainder of their life.
Occupation Right Agreement
What happens if I leave a Villa or a Studio?
The Occupation Right Agreement has two components:
- A fully refundable portion totalling 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.
Villa Prices
Prices are approximate:
- 1/2 bedroom Villa: $585,000 (includes Solar Panels, Smart Vent System and Heat Pump)
- 2 bedroom Villa: $695,000 (includes Solar Panels, Smart Vent System and Heat Pump)
- 3 bedroom Villa: $740,000 (includes Solar Panels, Smart Vent System and Heat Pump)
The Trust Board reviews the costs for each Villa 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 Villa 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:
- 1/2 bedroom Villa – $484 per month
- 2 bedroom Villa – $494 per month
- 3 bedroom Villa – $509 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/broadband.