In strata title villages, you own your home plus a portion of the community facilities and pay stamp duty and ongoing strata fees.
When you buy
Unlike leasehold properties that are maintained in the style of the village itself, you have free rein to style your home as follows:
- In our freehold villages in Queensland, you have free reign to style your home internally, however all external work requires approval.
- In our freehold villages in New South Wales, you have free reign to style your home as you please. However, larger renovations require approval of the owners’ corporation to manage noise considerations.
While you live with us
Once you move in, you’ll enjoy a relaxed, secure lifestyle while our dedicated team looks after maintenance and upkeep of common areas like gardens and swimming pools.
You’ll pay regular service charges to cover village services like the emergency call system, restaurant and activities. By law, our charges are based on cost recovery only, meaning village operators cannot profit from them. Fees generally increase annually with inflation.
A quarterly strata levy covers the exterior maintenance of your unit, building insurance, and the maintenance of common areas such as gardens and swimming pools. This is subject to inflation and is at the discretion of the body corporate.
When you leave
We understand that leaving the village can be challenging and complex for you and your family, so we aim to help you under the process and make it stress-free.
Selling your home
We’ll advise you on how best to prepare your home for sale, then put it on the market and help you find a new buyer. You’ll continue to pay recurrent charges and strata levies until your home is sold.
Deferred payment fee
Like the majority of retirement village operators, RetireAustralia retains a portion of the funds from the sale of your home as a deferred payment fee. This deferred payment fee covers large-scale village improvements and RetireAustralia’s investment.
The deferred payment fee will not exceed 37.5% of the resale value in our strata title villages in New South Wales and 35% of the resale value in Queensland. This is charged and deducted from the gross sale proceeds. This way, it’s easy to calculate exactly how much money you’ll receive after you leave.