We came to much the same conclusion Bob, after a similar downsizing 'journey'. I have a couple of friends in those villages who love them and say they should have moved sooner, but they are definitely not for everyone. I've met quite a few residents in various social outings with my friends and they often tell a different story.

Another downside to them is that if you move into one and find you don't like it they can be a bit hard to resell if that is even possible. Some of them you have to sell back to the village owners.

As for the body corporate, I guess that would in effect be the owners. They are often a Group, may be listed on the stock exchange, and they set the rules. There is usually a committee and the villagers vote for the various positions on that, but the rules are set by the owners as far as I know, who as you rightly point out in most cases are not you.

The committee can argue against the rules, but I don't know how effective they are. One of the ladies I know living in one of these villages saw the whole village sold out to another group and the rules changed without any real consultation among the villagers. As always in these circumstances, some of the changes were for the better, others not so much.

Do regulations regarding their management vary between states ??

Rcently have noticed adds on TV in NSW and must say the houses looked impressive.

Not sure if the regulations vary between states Suze. But yeah, some of the houses are really lovely.

There is a large retirement village not far from us. They had a house for sale and we looked into it on our house hunting jaunts. We were really impressed with the actual house but it was really expensive, almost as much as (if not more than) similar-sized freehold houses in the same area. On top of that, there were the usual monthly charges to consider.

As is usually the case with these sort of villages all the houses look pretty much the same, just differ in the number of bedrooms and bathrooms, that sort of thing. Most of them are attached to at least one other dwelling, rather like a group of duplexes. All with a small but very private backyard. The whole place is beautiful and perfectly sited beside what they referred to as their big corner shop. :) Right next door is a large shopping complex, complete with medical & dental centers, cinemas, restaurants, and easy Translink bus access. We gave it some serious thought but eventually decided against it.

There are also a couple of communities in this area that aren't actually gated but share a communal amenities area that is itself gated. We looked into one of those as well. The houses are completely freehold. You do own them outright and anyone can buy and sell them without any owners or corporate bodies, (or the like), getting involved. Every house is different too, on its own block of land (which you do own) just like a normal suburb.

The gated communal amenities, a large pool, tennis courts, gym, and picnic areas, have an ongoing yearly charge for maintenance, whether you use them or not. The actual houses are much the same price as houses outside the community.

We toyed with that idea for a while too, but in the end, bought a moderate-sized house (with a backyard big enough for a pool and large shed), about four kilometers from the above-mentioned large shopping complex.

We looked into many properties built as estate type with freehold titles and found as you did the dwellings were expensive but too close to each other, our small farm looks better each time we return home, our nearest neighbour is some five hundred metres away, and very private, very hard to buy a place with room and privacy.

I live in a small country town about 600 or so people not far from Gawler and the Barossa Valley. I sold my 100 year old stone cottage after 8 years. We have in the town Senior Homes for the over 55's. Some single and double units. The town Committee run these units. Are available for rent or to buy. After selling my house I moved into a Double unit surrounded by corner garden which I attend to. I bought the right to occupy $55.000 My return is 85% I pay a maintenance low fee. There are 6 units with the grounds landscaped and carports with roller doors. I have been here now for 17 years with no thought at all of moving, with Gawler only a short drive away it has all that I need. Living here is totally different to a Retirement living complex which I would never succum to I am quite happy here being part of a rural community.

There are pros and cons, and which column depends on the individual. Buying electricity via the site owner can be cheaper as they can negotiate a commercial rate. If you don't own the land you don't pay rates - you pay a maintenance fee which probably includes this but you may get Rent Assistance for this. Not owning the land also means no stamp duty. The "resort" as some are called may come with a kitchen, meals, bar, meeting area, cinema, swimming pool(s), sauna, gym, bowls rink and even 10 pin bowling lanes. If you use these, then the weekly cost seems reasonable.

The fact that the land is leased is almost irrelevant as it is perpetual and you have the right to use it or sell the right to use it when the time comes. Nearly all the land in the ACT is leasehold!

There are more restrictions than a freehold house (even though some council by-laws still get in the way) but probably no more than any strata titled property.

I would say the main issues are the downsizing of the house and of the land. If you are considering moving from say a 4 bedroom house with 3 other large rooms to a 2 bedroom "villa" with 2 other rooms, I would suggest emptying and locking 2 bedrooms and one of the other rooms to see if you can manage for a year! Having said that, it may have put me off moving despite the new size being okay unless we have visitors staying.

Having a smaller block can be a major issue especially as it brings the neighbours closer. The silver lining is less yardwork as I age.

The term 'retirement village' is used loosely these days to describe various types of communities. The largest portion are 'loan/lease' villages where an entry price is paid, often commensurate with a purchase price similar to a unit within the general community, but only for a conditional lease or licence to occupy. Other types are mainly 'land lease' villages where residents purchase a unit to own and 'rent' the land underneath. Fees on departure can be as high as 40% of the ingoing amount paid plus monthly maintenance/management costs, selling costs, unit refurbishment costs which can be as high as $50,000 plus. Industry data shows just under 50% of occupants do not receive any capital appreciation in the value of their unit. Villages are covered under state laws, as opposed to aged care which comes under commonwealth law, generally under residential tenancy or specific retirement village laws. They can be the best social decision ever made but can also be the worst financial decision ever made. For me the industry was best summed up in the following statement 'Families need to be aware that what we are talking about here is the transfer of intergenerational wealth, not to families, but into the pockets of large multinationals. Shame about elderly people not having enough money for Aged Care'.

I don't know where you live Bob but if you want the quarter acre block with shed move to a country town where you can buy relativly cheap and have money in the bank

We have a small farm on the NSW mid north, we are thirty minute from Southwest Rocks and close to Kempsey, most of the houses we have inspected have good features and some good outlooks, and we are aware that we won't get the so called ideal location or layout and we will need to compromise, that we're prepared for.

Since writing the Thread letter I've crunched some numbers re the Over Fifties and various communal living sites, using a ten year tenancy ( I live in hope) the cost would be about the same as a stand alone dwelling stamp duties and rates included, the difference alters dramatically if you sell, final sale restrictions and so called upgrade costs on some of the Over Fifties type are outrageous with in some cases no appreciation, the stand alone option is by far the best, and you or your family get the benefit not the shareholders of a company, many offshore.

Hi Bob, thought I'd add our fourpence worth here, particularly after reading retvilldotnet's piece. In April 2019 my wife (62) and myself (71) moved into the Gemlife Woodend (Vic 3442) Over 50's Lifestyle Resort. Gemlife (https://www.gemlife.com.au/) operate on a completely different model to the normal Victorian modus Operandi. There are NO Entry Fees. There are NO Exit Fees. There is a weekly fee that is eligible for Rent Assistance. If you wish to sell your house, you do have to offer it to Gemlife, as well as listing it with Real Estate Agents, any Capital Gains are entirely yours to keep and there are NO Refurbishment Fees. Electricity is supplied from an Embedded Network supplier at a rate much cheaper than normal retail. All houses have Solar Panels, Double Glazing, Double Garages, Security Systems, 2 or 3 bedrooms, Alfresco area, etc etc. Our Country Club offers Lawn Bowls, Petanque, Bocce, Tennis, Pickle Ball, 10 pin Bowling, Golf Simulator, Indoor Pool, Spa and Sauna, Gym, Wine Tasting Room, Cinema, Craft Room, Workshop, Games Room, Library, Commercial Kitchen, Cafe, Bar and Dining Lounge, Dog Walking Park, RV storage. Use of all these facilities is covered by the very reasonable weekly fee. After nearly 2 years here at Gemlife Woodend, we are still rapt with our decision to downsize to here. Gemlife currently have 1 resort in Victoria, 3 in NSW and 6 resorts in Queensland. Check it out for yourself.

Thanks for the very interesting information about Gemlife Woodend (Vic 3442) Over 50’s Lifestyle Resort

Wonder if GemLife is as good in other states.

Gemline Rainbow Beach seems to be in your area

See fearlesfly comment above

All the Gemlife resorts are run on the same model. However, we're jealous - Bribie Island also has a Party Boat !

Ah! Fearlessly ... time you moved to a good state LOL