Life’s a beach
A lifestyle village with an increasingly admired business model welcomed its first residents at Waihi Beach.
Words Monique Balvert-O’Connor | Photos Alan Gibson
Recently Waihi Beach became home to its own Karaka Pines Village, the seventh in the country operating under a model focussed on fairness to investing residents – who keep the capital gains made on their property when they decide to sell their village dwelling.
Located at the north end of Waihi Beach, and only an eight-minute stroll to the ocean, Karaka Pines’ latest village will feature 96 premium homes.
The first part of stage one of the development is completed, with 12 dwellings constructed and selling fast. The first residents moved in over May, with the initial three homes occupied by Waihi Beach locals who are thrilled with the opportunity to live in a retirement village within their beach community. And they’re enjoying the growing community at the village itself.
Karaka Pines Villages chief executive Adam Yates says open days were held in June, with enthusiastic interest coming from further afield too, mainly from Auckland, the Waikato and Coromandel.
There are still opportunities to buy one of the first homes on site, and now is a good time to visit the village and potentially stake an interest. The next builds will get underway at the earliest opportunity, Adam says.
Tucked away in a sunny, protected valley, Karaka Pines Village is sited on what was farmland. The village is located on Browns Drive, spans 5.12 hectares, and neighbours residential streets and a council reserve.
The village’s brick and tile houses come with either two or three bedrooms, offer either a single or double garage, and feature an ensuite as well as main bathroom. Houses are either standalone or duplexes. The homes range in price from a two-bedroom, two-bathroom, single garage duplex at $1.1 million to $1.4 million for a three-bedroom, two-bathroom, double garage standalone dwelling.
Spacious apartments also feature on the village plan (with parking included), as does a clubhouse, which will include a pool complex, wellness centre, and well-stocked library – but for now, a temporary clubhouse is currently being enjoyed by residents and friends. The apartment plans show two-storied buildings with a patio providing alfresco dining opportunities for ground-floor residents, and balconies serving the same purpose one floor up.
Karaka Pines Villages operate under an independent living model, although for peace of mind each home is equipped with an emergency call button that is monitored 24/7.
The Karaka Pines operating model has been admired and trusted for many years. There are Karaka Pines Villages in Auckland, Hamilton, Rotorua and Christchurch, led by Tauranga’s Kempton Park, which was the first to open about 12 years ago.
Each village has its own special character, but they all have one thing in common: All are vibrant communities where like-minded people enjoy living as they choose, secure in the knowledge that their capital gain is protected.
“Like all properties that come under the Karaka Pines Villages umbrella, when the time comes for owners of the Waihi Beach dwellings to sell, they are the ones who will benefit from the capital gain in their homes, not the management. We think that’s only fair,” Adam says.
In fact, a recently released research report (by Janine Starks at moneytips.nz) on New Zealand retirement village costs found that Karaka Pines residents receive back 99 percent more capital on death/exit than those with the country’s “big six” retirement village operators.
Adding to Karaka Pines’ financial security equation is the fact residents have the chance to opt for a fixed fee for life. That fee (it can be variable, if preferred) covers outside maintenance, insurance and rates. This way residents can have a very clear vision of their financial state, Adam explains.
Karaka Pines Villages specialise in independent living, but because of their financial structure – particularly its capital gains model – people moving on to assisted living, for example, are more likely to be able to afford to do so.
“We value our residents and want them to own their financial future,” Adam is proud to say. “We see the village as the residents’ village. We are resident-centred, and want our residents to feel like they own the place. After all, we only work there – they have to live there.”
Adam explains that it’s important for Karaka Pines Villages staff to live the ethos that it’s not their job to make their own jobs easy, but to make the residents’ lives easier. “We do things for people, not to people,” he says. “We look for moments of ‘I see you’ – seeing each of our residents as independent individuals and supporting them to live their best lives through our words and actions.”
Adam and his team are proud to offer a retirement living model that concentrates firmly on fairness.
Those keen to check out what’s developing can visit the village and tour the show home. Touch base with the village manager on 027 223 8822 or click on the website tab to send an email enquiry. People can also subscribe to the Karaka Pines newsletter, via the website, for updates.
karakapines.co.nz