After marketing retirement villages for some years, real estate consultant, Sandy Taylor, and her husband moved into a Hillsborough complex some six years ago. She reports that it has been the right move for them.
On entering our senior years, my husband and I were keen for our family to live their own lives without the responsibility of caring for us. We opted for life in a retirement village which has meant they can now visit without the need to do any maintenance for us.
However, before making our decision we had questions – what were the weekly costs for living independently, would our unit be cared for if we travelled and were meals available if one of us became sick?
We wanted to know about activities and if our unit would be refurbished ahead of purchase. Importantly, we learned that if village life didn’t suit us, we had 90 days to change our minds.
During covid lockdowns, residents said they appreciated being in a safe place with food on tap for serviced apartments plus milk and bread deliveries to independent residents.
Our fitter residents shopped for those less able and we felt reassured assistance was available if needed.
More than 50,000 residents live in villages right now. I don’t believe they (their lawyers and family too) are wrong about the lifestyle decision they have made.
So, what are the disadvantages? We have found very few. Yes, on sale, the estate will have a lower return as there is no capital gain and there is a deferment fee. This has not worried us or our children, who say they prefer knowing we are in a safe and healthy environment.
Yes, there are rules, put in place so residents remain safe. If some aspects are disagreeable, most villages have a residents’ committee which will hear concerns and take them to management.
Not everything is perfect but, in my mind, retirement villages do an excellent job. For a great number of people it is an option worth considering.
For more information please email me on s.taylor@barfoot.co.nz and I will send you a step-by-step guide on how to do a home makeover in a weekend. I can also give you a step- by-step guide on how to choose the right person to sell your home.
