Retirement village living

Maurice Patane answers Marty’s question about choosing the right kind of retirement village.

Retirement village living

Our no-nonsense financial planner Maurice Patane answers Marty’s question about choosing the right kind of retirement village.

Q. Marty

Could you please tell me which type of retirement village is the best? It is very confusing, with so many agreements such as lease, freehold and a number of others. I am 61, a widower with some disability, but I look after myself. I just need to know more about this type of living, and about deferred management fees and departure fees. Also, I have been told that some villages have Centrelink rental assistance. This sounds helpful, as I don't want to spend all my hard-earned money and leave nothing for my children.

A. “A man’s home is his castle.” Darryl Kerrigan summed it up with this one line in the movie The Castle. For me, this statement encapsulates the importance of a home and its effect on our health and happiness.

Generally, Australians have a love affair with property and, for the majority, their home will be the single largest investment in their lives. It’s normal to have some concerns when considering the purchase of any home, including one in a retirement village.

Personally, I have always felt the important issue is to find the appropriate accommodation for your needs. You should look at:

  • social life
  • community
  • friends
  • location
  • distance from family
  • lower home maintenance
  • care services
  • security


There are many legal structures and so it’s a very complicated area. Nonetheless, let’s consider some of the options:

  • self-care accommodation – look after yourself
  • independent living – low level of care
  • assisted living – higher level of care
  • nursing care – only offered by some villages and typically includes qualified nursing staff available ‘around the clock’


As a rule of thumb, those aged mid-to-late 70s or beyond should consider villages which offer increased care services. Those between the ages of 55 and 75, in pretty good health, can afford to be more flexible in their choices.

My tip is to remain in the one location for as long as possible. However, there are downsides to this; some contracts force you to exit and re-purchase when you move into the higher care option, which has financial implications.

Generally, all retirement villages offer a right to occupy the premises, which may be for life or for an extended period of time – for example 99 years. Some, in addition, may also provide a legal title to the property in much the same way as you would be given legal ownership of a residential property.

Similar to the costs associated with the purchase of your home, you can expect to pay the following when moving into a retirement village:

  • entry contribution – paid upon entry into the retirement village (similar to paying stamp duty when purchasing your home)
  • ongoing service charges – for recurring service charges (similar to maintenance of your home)
  • departure fees – when you leave the retirement village, these are also known as deferred management fees (similar to selling costs)


There are many variations on how these can be offered which is something about which I would encourage you to seek independent advice.

My belief is that most issues arise from the lack of understanding of how the contract works, which results in unpleasant surprises when you consider moving.

My view is to look ahead. Ask a friend to sit across the table, assume your position, explain the benefits and costs, and then you critique the outcome based on the stated needs. If you don’t like it for them, then you will most likely not like it for yourself either.

Remember, there’s no place like home.

Maurice Patane has been a financial planner for over 25 years. His experience has shown him that many Australians are not living the lives they dream of or wish for, which is often due to poor financial decision-making. Maurice is dedicated to helping everyday Australians take control of their financial future, so that they no longer have to worry about money.

Maurice Patane
Access Financial Management AFSL 229760
Ph (03) 9500 9988
Email: maurice@yourlifechoices.com.au





    COMMENTS

    To make a comment, please register or login
    MICK
    22nd Oct 2015
    10:11am
    Retirement living? Are you kidding?
    Have people not learned from the past and are the stories about rip-offs and village managers trying not to sell the units of deceased people whilst continuing to send the families the monthly bills clear?
    You'd have to either have rocks in your head, be unable to manage on your own or have dementia to go into a retirement village. Good luck to any readers who have made the call. Your families will be reaping the legacy of such a decision.
    Radish
    22nd Oct 2015
    3:20pm
    There have been changes to the Retirement Act and from memory the most that can be charged for the ongoing monthly fee is 3 months. It will not continue on until the unit is sold....so that has been sorted out.

    As for family reaping any legacy...it is your money after all and any beneficiaries should be glad they are getting anything. It is not compulsory that you live on the smell of an oily rag in order to leave all your money to your children etc.
    MICK
    22nd Oct 2015
    3:37pm
    You need to take this up with Toecutter below Radish as he appears to be closely involved with the nasties of the industry.
    Whilst one should have a reasonable lifestyle we should all remember that we received a legacy from our parents. The view pushed in recent years by the media that you should take it all with you is the view of narcissistic people who forget that they got a leg up in life. I do not subscribe to this point of view and find it repulsive.
    Sceptic
    22nd Oct 2015
    6:58pm
    You are incorrect mick to say that everyone received a legacy from their parents, if you mean a financial inheritance in the way of cash or property. I for one did not, Everything that I and my wife have we have worked for, and I know many others in the same position.
    MICK
    22nd Oct 2015
    8:42pm
    Whilst I feel sorry that you missed out Sceptic I have to say that most people get some sort of inheritance. It is a cornerstone of our society which the media is nibbling away with the "we're going to spend the kid's inheritance" stories from Australians who are setting an example of greed and self interest.
    Congratulations on making your future. There should be more of it.
    sanity
    22nd Oct 2015
    11:11am
    Oh dear, Mick, what a grouch! Must have missed his morning coffee.
    There are villages and then there are other villages. We're looking right now and our advice is to look for a home that is free standing (space around all walls) has a garage you prefer (2 car with some storage area) has 2+ bedrooms and study, 2 bathrooms, a decent lounge/dining/kitchen open area, an outdoor alfresco and space for a small garden.
    Then there are all the extras that you might find useful - where you can meet up with others of like mind. It's not for everyone - but sure beats isolation when aging gracefully. The resale and payment of monthly fees - ask the questions and be sure you understand the answers - then make the call. Do it!
    MICK
    22nd Oct 2015
    1:53pm
    The only thing I can see of use is that you have a great social life. Whilst that is a definite plus you are then able to be held hostage and your families will get very little of what remains of your life's work. This is bad.
    The industry has a bad reputation and politicians are currently looking into amendments to better protect the victims: you!
    Toecutter
    22nd Oct 2015
    3:32pm
    Sanity, just do the sums, don't believe everything of what they tell you now it's when you need to get out, That's when you need to make money to pay for your, quality care to exit this planet, Monthly fees$, Costs$, Exit fees$, refurbishments$ , Real-estate Charges$, Advertising, Commissions$, Legal Expenses $, Cost to you family $, How much are you really worth $, and who pays to cart you off? rip!
    Chef
    22nd Oct 2015
    11:32am
    Mike you are NOT a grouch, rather, right on the money or lack of it if one goes in to these Retirement Villages.
    Anonymous
    22nd Oct 2015
    1:16pm
    do whatever suits; money, you can't take it with you, so enjoy your retirement years; bugger the children, they need to learn to make their own living.
    MICK
    22nd Oct 2015
    1:55pm
    So did YOU or your wife get an inheritance from your parents? If so then your post leaves me with sadness.
    Linda
    22nd Oct 2015
    11:35am
    Looking at this issue, home care packages, nursing homes, retirement investments and advice, and most likely a few other areas, it seems we oldies are considered the honey pot for services, and property. To be straight, I am concerned to make any changes as basically mostly it is all designed to rip us off.
    MICK
    22nd Oct 2015
    1:56pm
    Once you give up your independence then you are at the mercy of third parties, who may do the right thing but who are more than likely just going to look at you as a cash cow.
    Linda
    22nd Oct 2015
    11:40am
    "There are villages and then there are other villages. We're looking right now and our advice is to look for a home that is free standing (space around all walls) has a garage you prefer (2 car with some storage area) has 2+ bedrooms and study, 2 bathrooms, a decent lounge/dining/kitchen open area, an outdoor alfresco and space for a small garden."

    Agreed, these are what most of us would like. I can't understand why there needs to be entry and exit fees, ambiguous ownership arrangements or any such nonsense. It is a property, and in a group of such properties, why not just have maintenance agreements for that, keeping gardens, fixing broken things, changing light bulbs, and when no longer needed the property is sold on to another.
    Anonymous
    22nd Oct 2015
    1:11pm
    I agree it would be nice if all these fees did not exist but you need to understand that these places are a business not a welfare scheme for oldies, they offer amenities for the buyers but in the end the piper must be paid.
    MICK
    22nd Oct 2015
    1:57pm
    You have touched on some of the issues designed to fleece those who come in with the dream. Be careful what you wish for.
    stones
    22nd Oct 2015
    11:59am
    We are both early 70's and moved into a "lifestyle" village (retirement village) after owning our own home but looking for a more relaxed and easier to manage abode about 12 months ago. Took a while to adapt but have now many new friends and am loving the type of living retirement offers. Our place is strata titled. Whilst there is a monthly fee (not exorbitant) and we had to purchase outright when we moved in our decision was based on a 'lifestyle' and not an investment. I think if you are looking for an investment this is not the way to go. There is an exit fee involved but I would suggest that appreciation would almost cover this.
    Did our homework and sought plenty of info before making our decision but now loving it.
    Toecutter
    22nd Oct 2015
    1:24pm
    Here's a little know fact about a lovely retirement village in Doncaster, Sadly my parents and I have learned first hand how underhanded Village contracts can be, Their unit cost them around $600k for a two bed unit, due to ill health they had to go into nursing care, that's when the, Surprises started, They have sole right to selling the unit, plus commissions etc. Now let me elaborate, over 10 Years in their unit they paid over $10k a year just to be there, plus Bills etc, that's $100k +, also they require the unit be fully renovated and New everything $45k, Their fee for selling a SMALL $200K, I believe they were legally roughted and the family pays the price, They're not in the clear with on top fees etc, they have been done over, with style, many others have gone through this form of legal extortion their Unit was re sold for over $900k all they received back a lowly $390, The solicitor that advised them said it was a great deal, FOR WHO? we are not alone, speak out it is wrong! don't let them continue to get away with it. "Toecutter"
    MICK
    22nd Oct 2015
    2:01pm
    I hope that some of the posters above read your post Toecutter. WHilst there are horses for courses your post highlights what this industry is well known for. Thanks for sharing. People who are wanting to buy the dream need to be aware of the reality.
    And for the record: I DO NOT AGREE WITH THE VIEW THAT THE CHILDREN SHOULD BE LEFT NOTHING. THIS IS THE VIEW OF A MORALLY DEFICIENT PERSON. Sorry!
    sybilla
    22nd Oct 2015
    3:35pm
    You may have noticed that often details that may seem trivial on face value, often denote a deeper malaise, or a general attitude that is far from trivial. An example may illustrate my main beef with these cash-cow villages.

    On her first night my friend Gretel set off the smoke alarm at 3am. Next morning with a small typed apology, she headed for the notice board. "What ever are you doing," demanded the receptionist, "Oh just putting up my apology to the people I woke last night." smiled Gretel. "Well you can't. The manager authorises everything that goes on this board," "Why," asked Gretel, "Your brochures state that this place is run for the sole benefit of our 'valuable residents,' and that includes me doesn't it?" "Well yes, but we do have rules..."

    Am I alone in finding this attitude patronising, insulting, demeaning? In the same 'spirit of the law,' may I also tell you that Gretel's fellow inmates are not permitted to walk bare-foot, to keep a small pet, or dress the way they wish - "We do have a dress code you know!!" I have faced up to the fact that in the interests of preserving what's left of my sanity I will need to stick to my 4 by 2 and room for a pony, to the last gasp- of my independence -- because if anyone dared deny me the pleasure of feeling the grass between my bare toes, the wearing of shorts, or monitored my freedom of speech via a Fascist run notice-board, it might well be grounds for some sort of response that would be a lot less printable than this one.
    MICK
    22nd Oct 2015
    3:39pm
    I have heard that some villages are run like concentration camps. So why would one 'choose' to leave one's own home other than ill health?
    Mar
    22nd Oct 2015
    3:38pm
    Like Stones, My husband and I moved into a Lifestyle Village 10 years ago. wE did it for just that, the "lifestyle". mUch has happened since, with my husband passing away 8 years ago. I I found it so comforting to be here, secure, with everything managed. I have wonderful support, good friends. There are things to join in on every day and every amenity. Of course there will be an exit fee when I leave, which will be about 25% of the overall value of the property, but the property has increased 46% since I bought it. My children are extremely happy to see I have a good life here. Can't agree with you Mick, there's more to life than making money.
    MICK
    22nd Oct 2015
    3:42pm
    I guess I look at it from a different perspective. Realistically property has doubled in not too many years so the 46% gain you mention pales into insignificance. And then there are the other costs. Toecutter had a good account and is better qualified to take this up than myself.
    In the end Mar I want a good life and I want to leave something for the next generation. Cheers.
    Mar
    22nd Oct 2015
    3:59pm
    There must be "villages" and "villages, because I have never experienced issues like toecutter talks about. Everyone here is so supportive. We have an excellent residents management group that look after our interests. Maintenance is done when we need it, plus 6 months maintenance check ups.. We have happy hours, concert nights, keep fit, swimming, craft groups, bowling, table tennis, I could go on and on,many it's all included in our maintenance fee. Gardens are tended regularly and the staff are very respectful. It depends on the Village. You can't judge them all the same. It is important to thoroughly check them out and get information from people who already live there before you decide.As always, word of mouth is the best recommendation, also thoroughly check out contracts before signing.I find that if you live alone, you will never be lonely.
    Jannie
    22nd Oct 2015
    4:20pm
    I am considering investigating the possibility of moving into a village but I hesitate due to so many negatives. I know the main consideration is lifestyle and security being in a village but to be ripped of no thank you.
    Rosscoe
    22nd Oct 2015
    4:33pm
    This has been one of the best discussions. I thought the points made by Toecutter and Mar were excellent and summarised the situation. I personally think that there are a lot of sharks in the retirement village industry. I enjoy retirement village living, but the village operators rip off an arm and a leg for people to take up this option. The Australian Property Council will try and persuade people that 93% of retirement village residents are satisfied with their decisions to enter a village. 1. First of all, this figure is not obtained from a census of retirement village occupants; it's only a survey! 2. Maintenance fees are too expensive 3. The occupancy contracts exploit village entrants
    MICK
    22nd Oct 2015
    4:57pm
    Janine: if you are intent on doing this then I suggest you go online and see if you can find a blog for the village you are looking at AND talk to as many of the long term residents as you can. If the staff stop you from talking to residents and/or pick those you talk to then read between the lines.
    Good luck.
    Toecutter
    22nd Oct 2015
    4:59pm
    Please Understand, Where my parent were living they had everything they could wish for, Almost, I can't name them for obvious reasons the repercussions to my parents would be devastating even now, They Dining, Restaurant, pool, Spa, Sauna, Emergency Nurse, care takers gardeners, Lounges, Bar, everything a couple could wish for, "BUT" it comes at an enormous price, Finally when they needed urgently to move on, "DONT PANNIC" They thought they were in heaven too, until Hell broke loose, Instead of leaving their family with no problems and a little inheritance, Our family will almost be paying to put them in the ground, when that occasion arises, If you think you're bullet proof get you affairs checked out NOW not later, What the government has done doesn't deal with the past and the injustices against the elderly or their rights to leave this earth with dignity and out worries, Imagine if you were once very well off, Only to have it taken away by unscrupulous Village operators and Legal complacency, I'd love to hear more of the truths from Other out there, "Stand up and Be counted". The Toecutter
    Toecutter
    22nd Oct 2015
    5:11pm
    In addition, If you purchased a House ten years ago for lets say $600k
    today its worth an estimated $900-$1.?Mil plus the fees and charges etc, you would have to pay to the development or village, lets say $9k a year for 10 years $90K you could live a fantastic life have most of what you get there and over all reap the benefits to pass on should you wish to your family, I don't know about you but my family would have been over a million better of if they stayed in their home and had all the services delivered to them. I'm not greedy but I'm sad for them to be stressed this late in life. Toecutter.
    Only 54
    22nd Oct 2015
    6:25pm
    Well, retirement villages certainly seem to be as controversial as they ever were.

    Mick, you seem to be firmly locked in the past and may not be aware that the industry has come a long way since the bad old days, largely thanks to legislation that is designed to protect consumers and imposes very significant disclosure obligations on operators. It's not perfect, but it's a heck of a lot better than it ever was.

    Toecutter, you almost had me rolling on the floor laughing out loud (ROFLOL). In an earlier email you commented that your parents "paid over $10k a year just to be there", which didn't sound nice at all. I was bursting with sympathy! Then you came clean in a later email and said they had "Dining, Restaurant, pool, Spa, Sauna, Emergency Nurse, care takers gardeners, Lounges, Bar, everything a couple could wish for". My sympathy promptly morphed into jealousy! The rest of your maths didn't quite add up!

    I helped my parents make the move to a retirement village 3 or 4 years ago and they have never looked back. They love it! Yes, the documentation was a pain and there is the odd tussle with the operator about fee increases and there is a departure fee at the end that they are well aware of. But taking into account what they paid, what they get for it and what they will get back when they leave it seems like a reasonable arrangement. In fact, I clearly recall my father telling me that for the same money they couldn't have bought anything nearly as nice in the area with comparable facilities. The reality is that having a departure fee does tend to push down the initial purchase price (the bigger the fee at the back the less a sensible person should be willing to pay up front - right?) and at least in my parents case the departure fee also reimburses the operator for some ongoing capital expenses that it is not legally allowed to recover from the residents.

    The thing about retirement villages is that you need to do your research and then shop around. I'm not sure if I can add a link here, but if you want to actually learn about them then have a look at a website like http://www.itsyourlife.com.au and then shop around and compare what's available. The above website has a free calculator you can use to estimate how much the departure fee could be, which makes it easier to compare different fees in different villages. And before you sign, try and find a good lawyer who has experience with retirement village contracts.
    MICK
    22nd Oct 2015
    8:50pm
    I have to admit that my knowledge is more around anecdotal accounts and media coverage here and there. I am happy to hear from experts....................who are not conflicted.
    I have seen several pieces of legislation proposed but continue to hear complaints from victims so not sure if the industry is what you claim.
    I do note that your account Only 54 sounds more like a sales pitch and I continue to have concerns about the loss of free will in these place (first hand accounts), the fees and the huge slug and frittering away of a family's inheritance after people die. There is no justification for village operators to try and not sell the units (verified) or the stalling of same to get the ongoing fees (also verified) and then finally taking most of what is left.
    Whilst you are right about shopping around you also need to fess up in regard to the above practises which I assume are still going on. They should be outlawed!
    Toecutter
    22nd Oct 2015
    9:16pm
    OK... here we go again, In some, Yes in some retirement villages they have these extras and if you use them they are EXTRA and on to your Fees they go, I don't want you pity, Only 54 you have a lot to learn, my parents are in their late 80's both paid dearly: I suggest you read the Current Legislation as I have and so has a team of top Barristers and Solicitors all agree they were hoodwinked into signing a legal document virtually signing any recourse against them impossible, If you think they are the only one's, there are HUNDREDS of units there and they have been threatened not to talk to anyone, You do the sums it all depends where you live, the $10k a year is a fee that is on top of any others they dream up, A $900.000 investment in Aged housing and a $390 return "Get rea " what part of owning your own home and paying through the nose with hidden charges and fees don't you understand?
    I refuse to believe you think this is a as you put it. A (ROTFL) or MAO) if it was you and your family what would you say then?????????????????????????????????????????????????????????????????????? Eh
    MICK
    22nd Oct 2015
    10:15pm
    Thanks for the leg up Toecutter (not a joke!). I concede to those who have a much better understanding. If you have read the legislation then you are better placed than anybody on this forum today and I hope that people contemplating going into one of these places reads your posts CAREFULLY and thinks twice.
    You would not get me into one of these places unless I was about to croak it. If I want to be held hostage and be financially done over then I'll go to Syria, not a retirement village.
    I'd be advocating that people consider paying people to come into their own homes and help and catch the community bus to get to the seniors halls there for all older Australians to enjoy and meet other like minded people. What the heck is wrong with that?
    June
    22nd Oct 2015
    9:07pm
    Found this entire conversation very thought provoking. I thank you all for your comments and thoughts as in the future I will investigate retirement villages.
    Peterrj
    22nd Oct 2015
    9:57pm
    It's a complicated business .... And don't forget, it is a business your are getting involved with. There are lots of variables but in the place where my mother went she 'bought in' at $100,000. No she did not actually own it but that was the bond money put up to allow her to stay in a two bed unit. Then she had to pay rent at $10,000 per year that was taken out of the bond money to a maximum of Three years rent being $30,000. After that nothing else was taken out of her bond. However she had to pay a maintaince fee of $50/wk. water and rates were paid for by the village but she paid for phone line, electricity and food. She had a place to live and it was a reasonably good deal. She left 1O yrs later and was refunded $70,000 of the remaining bond money. Even though the value of the unit went up she was only paid $70,000 back which bought less than her original $70,000 due to inflation. This was all explained to us when she entered the village and it was her home at a reasonable price! Most villages work off the same formula: pay in lump sum bond money, rent to a few years then it's rent free, pay maintenance fees and then be refunded the remainder of the residual bond money! The real economic fun starts when you 'buy' into a low level care hostel, the one room meals provided unit.

    It may be slightly off topic but the cost for my mother to enter a low level care hostel was $250,000. But it works this way, the hostel allows you to keep your first $50,000. After that you put in what you have between $1 and $250,000. If you have enough to actually put in the max price of $250,000 then you can keep the rest of your cash. Needless to say my mother only had $100,000 .... She was allowed to Kept $50,000 and paid the remanding $50,000 into the bond whilst the Govenment put in the rest of the bond money ie.$200,000!
    Her $50,000 bond money will be eaten into over time and she pays in 85% of her pension money to the hostel. Think about it ...... The Govt pays for the bond unless you have the cash!!!! That can be a difficult message to fully comprehend!!!
    Only 54
    22nd Oct 2015
    10:17pm
    Mick and Toecutter

    Mick, I agree completely that there is no room for any sort of oppression in retirement villages. My parents are in NSW and I can confirm that the NSW retirement villages legislation sets a very high bar in terms of the information that the operator is required to disclose, matters that must be included in the contracts and the continuing rights of residents. So if anyone is suffering from any sort of coercion or oppression they should get some professional advice. The website I mentioned in my earlier post also has links to free advocacy services that can help in situations like that.

    Toecutter, if your parents home cost $600,000, increased to $900,000 during their occupancy and then returned just $390,000 when they moved out, well that does suck! That's an overall reduction of over 56% from the resale price and 35% from the purchase price which is definitely on the extreme side, no doubt about it! While doing my research I found that although there is no such thing as a standard departure fee, somewhere around 25-30% of the resale price is probably the industry norm. Anything higher should mean there is a corresponding reduction in the up front purchase price of the home. My parents agreed to a rate in the above range and felt that the price they paid for the home was a bit less than the fair market value of an equivalent home in a standard strata development with good facilities, although any comparison between a retirement village and a standard strata development is not perfect. So hopefully your parents situation is now a thing of the past, although that is little consolation to them or you.

    I think most problems have arisen because people signed up without understanding how it all works. Even if they did understand and were happy with the arrangements, you can see how their kids might be disappointed when they learn that a departure fee is payable when the home is sold. So as well as doing your research, shopping around and finding a good lawyer, I'd say it's a good idea to make sure your kids also know how it all works.
    MICK
    22nd Oct 2015
    10:23pm
    My aunt was bullied in her retirement village and was scared to say anything lest the commandant came down on her. Hardly the friendly place some above talk about. But then there are villages and then villages I guess.
    The problem remains that the Retirement Village Act is little more than the 'Cowboy Act' with a few safeguards and loopholes which the bad operators exploit to fleece the elderly folk and rob their children of most of what their parents spent a lifetime achieving. I find this a national disgrace presided over by politicians who spend more time thinking about their over inflated entitlements rather than the people they claim to represent..who they often abandon.
    VOTE FOR AN INDEPENDENT and make a difference!!!!
    B j
    23rd Oct 2015
    5:09am
    I am living in a different type of retirement village called a relocatable home park you buy the house & lease the land,the rent is affordable,can claim rent assistance.There is no entry fee & no exit fee,no council rates,no lawns to mow they do that,There are two pools,tennis court,dining hall & other social clubs etc.If the park is sold my lease just continues on with the new owner(new owners recent no change for us) You can sell anytime Yu like through the park they charge more than a normal real estate agent but it gets sold very quick or a normal estate agent it's yr choice.We looked into the other type of retirement villages there called resorts very hefty fees not much better than the one we live in. Just make sure that Yu choose wisely do yr homework.
    MICK
    23rd Oct 2015
    8:38am
    I have seen quite a few of these sold to developers. A bit of a worry if you are thrown out at 90 years of age. Hope yours is not in a prime location Bj as this is the trigger.
    B j
    23rd Oct 2015
    9:14am
    No Mick not a prime location the parks that are being sold to developers are the ones that that are caravan parks with old vans with permanents in them they are being made into over 50's relocatable homes my lease says if the park gets sold & the new owner wants Yu out they have to pay to relocate Yu somewhere else as this would be not in their best interest as there are around 400 homes in my park highly unlikely that this will happen.
    MICK
    23rd Oct 2015
    9:23am
    Good luck. Your saviour is probably that you are not on beachfront land. That is a one way ticket to the far west burbs.
    PIXAPD
    26th Oct 2015
    6:56am
    Retirement Villages ? you have to be crazy. I would have thought a person at retirement age would have some wisdom and avoid those places like the plague, even the so called 'church' runs villages rip folks off
    MICK
    26th Oct 2015
    8:04am
    About covers it. I also observed in my aunt's village that the commandant bossed older people around like school children.
    To be avoided.
    PIXAPD
    26th Oct 2015
    8:23am
    I have 'affordable living' (permanent rental) a studio unit. Pension covers that easily, brand new 4 story apartment block. Own underground car space and a cage thing to store stuff, the Community Housing folks who supply and manage Public Housing (own the property) so they take more care who they have a tenants (don't want their property trashed) it's 30% of pension rather than the 25% in Public Housing but worth it and as I said the pension covers it easily, and it means I'm not beholden to them, and if I snuff it there is no cost to the family...unlike the nightmare of ongoing fees that often meets the family of one who snuffs it in a retirement village.
    baza18
    26th Oct 2015
    9:54pm
    Sanity, I don't know what state you are looking in but you described our home that we are selling in a retirement village to a T. Have a look on Gumtree - AD ID 1091779020
    Cheers
    baza18
    baza18
    26th Oct 2015
    9:54pm
    Sanity, I don't know what state you are looking in but you described our home that we are selling in a retirement village to a T. Have a look on Gumtree - AD ID 1091779020
    Cheers
    baza18
    Libby
    27th Oct 2015
    3:18pm
    I am living in a self-care (10 years now) Retirement Village called Uniting Care and I only pay rent! We pay our rent to estate agent. The only thing we pay is our electricity and phone. There are some villages that do rent out units if you're still in good health. Age criteria is 55 and over. We have shopping centre two blocks away, good transport and at least I can manage on my pension. On this block is also a private buy-in only block of units, nursing home and hostel. Rent is $225pw for now but if I leave it will be renovated and cost around $285+pw.
    On the subject of buying into a village, there are Legal Reps called TARS (The Aged Care Rights Service) and you can check out their website www.tars.com.au if this will help.
    Libby
    27th Oct 2015
    3:32pm
    Another thing I forgot to mention about this Village, friendly people, 22 units in all and free use of laundry (machines/dryers) as well as clothes line but if you have a car,street parking only except for the buy-in only.This place is very close to Bondi Junction. Our estate agent now have a long waiting list so I was lucky to get this place in 2004, no list then.
    MICK
    27th Oct 2015
    4:08pm
    You obviously have the needle in the haystack. Many are just money making cesspits where old folk are abandoned and I dare say mistreated as chattels, not people.
    Libby
    27th Oct 2015
    5:55pm
    I know all about the Retirement Village's treatment of people, their false enthusiasm, smiles etc. just to make folks feel "welcome" but are really after money and dumping grounds for abandoned old folk. When money runs out they're kicked out. Now the legislation has changed, hopefully, for the better. I worked in a Hostel for men (free to come and go as they please). We have seen so many of these Villages on current affairs programs of these old folks making a complaint and I certainly don't blame them. Nursing Homes are the worse place to be in, not enough staff to attend to their needs. It doesn't matter how much money you have, they're still treated unfairly. Some families were horrified at what was happening to their relative, they took them home to care for them. Some don't have families at all so where else can they go, on the streets? Will the pollies help them? No! Too busy thinking of themselves. I am fortunate to be living here and I've learned a lot.
    MICK
    27th Oct 2015
    7:46pm
    IT WOULD BE NICE IF A COUPLE OF THE POSTERS ABOVE WOULD READ YOUR ACCOUNT LIBBY. THANKS FOR YOUR HONESTY.
    Radish
    10th Aug 2016
    4:58pm
    There are "not for profit" retirement villages and the RAAF in WA has some wonderful villages and all I know is that people who live in them seem very, very happy.

    Those I have spoken to have all said the same thing "wished we had done it sooner".

    They love the social life and the widows especially find having the security and upkeep of homes taken care of is one stress they dont have.

    Can go away for any amount of time and not have to worry about breakins etc.
    Radish
    10th Aug 2016
    5:06pm
    Another thing I forgot to mention...with the RAAF villages they will pay you out immediately you wish to leave.

    No waiting for someone to buy it. I did some sums and because you dont pay council rates, water bill is covered and the only bills you have are electricity/gas and telephone, internet. Most have solar panels also.

    Also you dont have to pay for insurance on the home...only your contents.

    I worked it out that it was around $70 a week to live in a RAAF village in my city (for a couple that is).

    There is a workshop for men or women, a gymnasium, a heated pool, library, community hall, arts/crafts room, kitchen area for functions.

    Socialising is extremely important as we age and I see a number of ladies in their 80's living very lonely lives as they only see their families every now and then as they dont live here.


    Join YOURLifeChoices, it’s free

    • Receive our daily enewsletter
    • Enter competitions
    • Comment on articles