Thread: Retirement Villages.

Do you have security of tenure? What does it cost annually? Can you sell on the open market or only to the property owner? Can the property owner evict the tenant without compensation?
'It's public housing or my car': Longriver and the caravan park residents facing homelessness

'It's public housing or my car': Longriver and the caravan park residents facing homelessness | Australia news | The Guardian

As with any house, it needs to be thoroughly checked - don't let worrying about the legal status distract you from that; both need to be carefully considered. I have a friend in one of these in Caboolture, has been there about ten years, and has had to spend a lot of money dealing with termites - despite it being given a clean bill of health when she moved in.

Originally Posted by DiscoMick

Do you have security of tenure? What does it cost annually? Can you sell on the open market or only to the property owner? Can the property owner evict the tenant without compensation?
'It's public housing or my car': Longriver and the caravan park residents facing homelessness

'It's public housing or my car': Longriver and the caravan park residents facing homelessness | Australia news | The Guardian

I have done a fair bit of research and answered a lot of those questions. You do have security of tenure, unlike a resident in a caravan park. I guess, what I am asking is first hand knowledge from anybody here who has actual experience with these types of places.

I think the budget said if you downsize into anything, the surplus can be put into your super....so if that is the case, in my opinion, if you are still fairly self dependent...just going to a smaller freehold house would ensure your estate isn't eroded by fees for so long, when you really needed to go to a village...you could sell again, probably make a bit of profit and then start paying the fees at a retirement home.

Originally Posted by Gordie

I think the budget said if you downsize into anything, the surplus can be put into your super....so if that is the case, in my opinion, if you are still fairly self dependent...just going to a smaller freehold house would ensure your estate isn't eroded by fees for so long, when you really needed to go to a village...you could sell again, probably make a bit of profit and then start paying the fees at a retirement home.

No expert here, but it needs to be said that the Budget has yet to pass it's second reading, which it will, but the Senate is another matter. The Bank tax will pass, but I wouldn't count on too much else.

Originally Posted by Ausfree

Now that I am in my seventies, the bride and I are thinking of downsizing and moving into a retirement village while we are still able to move about reasonably actively. Anybody here had any experience with these types of over 55's villages. The appears to be two types, one is called "Retirement Village" where you buy into a unit and rent the ground it stands on, big killer here is the "Deferred Management Fee" which can reach as high as 30% of the value of the unit when you eventually move out...........(I guess I mean fall off your twig).

my grandmother had one of these. lived in it for 20 years. absolutely loved it! she was so busy going out, seeing friends or having people over, that we the family, had to make an appointment 2 months in advance to see her!

The only experience I've had with these villages was years ago delivering timber for pergolas.
The carpenter we supplied timber to said there was only 2 design options due to "village rules".

One conversation I haven't forgotten was with a bloke loading food and bags into his ute.
He drove 100mt to his caravan to unload the above items into it.
Village rules didn't allow him to have the van in front of his unit to pack it.
He also said servicing his car was done behind closed doors as it was frowned on too.

I have family in I think a "village", I'll see what I can find out. They moved in quite some time ago now, he's since passed, and she still loves being there.