Chat with us, powered by LiveChat
Quick Enquiry
font
A A
size
About the village

Our fees

We’ve created a fee structure to help you enjoy the home, community and lifestyle you’ve always dreamed of.

95034422-5772-44F0-A59E-2428A583FD68 Created with sketchtool.

Let's talk about fees

Purchasing your new home in a retirement village is a little different to buying a typical residential property and at Kingsford Terrace Corinda, we’ve created a fee structure to help you enjoy the home, community and lifestyle you’ve always dreamed of.

Kingsford Terrace Corinda is developed and managed by experienced retirement community operator, Aura Holdings. At Aura, we believe in being clear, transparent and fair in our approach so we wanted to take a moment to provide details about what your investment would look like at our village.

We actively encourage all our future residents to seek independent financial advice to ensure they’re making the decision that is right for them.

Purchasing your new home

We know that making the move into a new home is a big decision, so when you find the apartment that’s right for you, our dedicated team will be there to answer your questions every step of the way.

Deposit

When securing your apartment at Kingsford Terrace Corinda, your only commitment is a $5,000 fully-refundable deposit. This amount remains in a solicitor’s trust account.

When you settle on your apartment, your deposit will be applied to the purchase price or refunded if you don’t proceed with settlement.

At Kingsford Terrace Corinda, your apartment purchase can be subject to the sale of your existing home.

Purchase price/lease premium

When you’re ready to make the official move into your new home at Kingsford Terrace Corinda, you will need to complete the payment for the apartment that you are purchasing. Kingsford Terrace Corinda offers options from $395,000 – $885,000*.

Living in your new home

Firstly, we’d like to introduce you to our Village Manager, Mark. Mark will help you organise removalists, swap over your phone number and introduce you to all your new neighbours should you decide to make the move to Kingsford Terrace Corinda.

In fact, he’ll take care of everything so you can make the most of life in our village.

General Services Charge (GSC)

Once you move in, you’ll enjoy a supportive, social and secure lifestyle while our dedicated team manages the home and garden maintenance, and you’ll pay regular service fees to cover these costs.

Similar to Body Corporate fees, the GSC covers the maintenance of facilities, common areas and apartments, building insurance, common electricity, Council and water rates. Under the Retirement Villages legislation, Operators are not allowed to profit from the GSC.

The GSC varies on the size of the apartment at Kingsford Terrace Corinda, and ranges between $115 – $130 per week.

Personal expenses

While the GSC covers many of the expenses you would encounter living in a residential property, you are still required to pay for your own water usage and electricity, and any personal expenses such as phone, internet, contents and domestic or in-home care services.

Leaving your new home

We know that it can often be difficult for you and your family when the time comes to leave our village, so we’ve made this process as straightforward as possible.

Deferred Management Fee (DMF)

Like the majority of retirement villages, Kingsford Terrace Corinda retains a portion of the funds from the sale of your apartment when you exit our village.

At Kingsford Terrace Corinda, we have a maximum 33% DMF accrued over 5 years.

Most importantly, the DMF is calculated on the sale price of your apartment rather than the purchase price, meaning you benefit from the majority of capital gain your apartment accrues over time.

Easy exit

To ensure there are no surprises when you exit our village, we do not charge any additional fees for sales and marketing or the reinstatement or refurbishment of your apartment when you leave. In fact, we cover this out of the Deferred Management Fee paid to us upon the sale of your apartment.

We will pay both your legal fees (up to $1,100) and our own legal fees.

By law, we will also buy back your apartment is it has been on the market for 18 months to give you the certainty to plan your next move.

95034422-5772-44F0-A59E-2428A583FD68 Created with sketchtool.

What makes us different

Benefit from capital gains

Our DMF is calculated on the sale price of your apartment rather than the purchase price, meaning you benefit from the capital gain your apartment accrues over time.

No sales and marketing costs

At Kingsford Terrace Corinda we have our own in-house sales and marketing teams that will handle everything from advertising and open homes through to paperwork and consultations – all free of charge and with regular communication!

No refurbishment costs

You and your family will have peace of mind knowing that when it’s time to sell, we will organise and pay for any reinstatement or refurbishment needed to prepare your property for sale.

Download our Village Comparison Document

Download

Interested in finding out more about our fees?

Enter your details below and our team will be in contact soon.

Aura Holdings will not share your details with third parties.