Are Retirement Villages expensive?
In short, the answer is ‘not always.’ There can be some very affordable homes within Retirement Villages, however, not all are priced at the affordable end of the market either. Just like real estate on the open market, Retirement Villages offer a range of options – from some quite large homes (yes, even 3-bedroom homes) to some cosier options, like studio apartments. Also, village prices are likely to reflect the prices of the suburbs in which they are located, so villages in upmarket areas often have a premium price. So, it stands to reason that a brand-new, larger unit, in an up-market area may be a considerable investment – whereas an older, smaller unit in a smaller rural town may be very affordable.
If you look on retirement villages.co.nz you can see a range of currently available properties including starting prices. Generally, you will find that village homes are new, modern, and often are slightly cheaper than the equivalent on the open market. This is because the financial arrangements in a Retirement Village are different from traditional property purchases, and you do not “own” the property in the way you may have in the past.
Updated: 30 Sep 2022