What is the minimum age of entry to the village?

The age of entitlement to NZ Super, which is currently 65 years.

What ongoing fees do you pay?

In the village you pay a monthly fee of $690 as well as an annual house insurance premium (based on the size of the villa).

Are there any fees or charges payable when you leave the Village?

Yes, you pay a retention of 25% of the villa licence value when the licence is sold to a new licensee.  The 25% is calculated on the market value of the unit.  If you are at Parkwood less than three years the retention will be abated on a pro rata basis, eg if you are at Parkwood eighteen months, the retention would be 12.5%.

Is there an entry fee?

Yes, there is an entry fee called a Common Facility Site Donation.  The Common Facility Site Donation is $35,000 for villas and flats and $10,000 for Parkwood Lodge apartment Licences to Occupy.  The entry fee is always included in prices quoted to you.

What does this fee cover?

The fee covers local body rates, external villa maintenance (see Disclosure Statement Appendix 1 for exclusions), village maintenance, grounds maintenance, 24 hour on call Village Care service, use of community facilities and most of the maintenance officer’s services.

How is the villa valued?

The villa is valued independently at market value.  This value is agreed by the parties before any upgrading work is undertaken.  The Trust undertakes any upgrading work necessary on behalf of the incoming resident.