Approximately 14% of the people aged 75 and older choose to live in a village – and that number is set to increase as our population continues to age. It is estimated that 26,000 retirement village units will need to be built by 2033 just to keep up with current demand. So, villages are a popular choice for many people for a variety of reasons including:
- Providing peace of mind, safety and security.
- Having a host of activities and interests to participate in.
- The opportunity to make new friendships.
- Being free to do the things you enjoy and not having to worry about home maintenance or other chores.
- The opportunity to access care and support on-site when needed
Of course, village living isn’t for everyone. Some things that may stop people wanting to live in a village include:
- The social aspect: Not everyone is a social butterfly so the communal living associated with a retirement village won't suit everybody.
- The cost: Due to the up front cost needed to buy into a village, you will most likely need to be able to sell a property (such as your family home) to have the funds required. All villages have associated costs, including weekly fees and exit costs. You are also unlikely to receive a capital gain when your unit is on-sold.
Use our checklist it to help you decide if village life could suit you:
https://www.eldernet.co.nz/knowledge-lab/make-a-good-choice-use-our-retirement-village-checklist
Then start searching available properties in your price range here.
Updated: 12 Oct 2022