Tag Archives: Lifestyle resorts
10
Feb
Four Retirement Living Options
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Posted by
Annie
As we get older, common thoughts arise about what suitable retirement living arrangements are available – do I need a smaller place? Do I want communal facilities? Do I have enough money to move? Do I need medical care? There are diverse retirement living options for over-50s in Australia; ranging from lifestyle resorts to traditional retirement homes, each with its unique ownership models, costs, and lifestyle perks, that’ll help you adjust to retirement best suited to your needs.
1. Traditional Retirement Villages
Traditional retirement villages feature self-contained villas, apartments, or townhouses in gated settings with shared amenities like pools, bowls greens, and clubhouses. Typically, homes in these complexes have high entry fees, deferred management fees (up to 25-35% on exit), and ongoing service charges. Regulated by state laws like Queensland's Retirement Villages Act 1999, they suit those wanting community support without full-time care.
2. Land Lease Communities (Lifestyle Resorts)
In land lease communities, like Living Gems, you own your home outright but lease the site. Similarly, homes are set in a secure gated community, while residents have access to a wealth of resort-style facilities, including indoor pools, golf simulator, recreational spaces, barbecue areas, and more. Protected under the Manufactured Homes Act 2003, contracts are simpler, letting you sell...
13
May
Top 10 downsizing mistakes to avoid
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Posted by
Matt Harris
Thinking of trading big for better? You’re not alone. For a growing number of Aussies over 50, downsizing isn’t just about shedding square metres — it’s about making space for more of what matters. It’s important to downsize positively: Less stuff, more freedom. Less upkeep, more time for the good things. But as exciting as it is, downsizing still comes with its fair share of gotchas, that range from emotional and practical to sneaky fees, so being prepared will help you enjoy downsizing and ultimately, enjoy retirement. Whether you’re leaving the family home or heading for a sea or treechange, here are some common downsizing mistakes to dodge — so you can start your next chapter with confidence.
Common traps when downsizing (and how to avoid them)
Downsizing isn’t about giving up — it’s about gearing up for something better. So, before you start packing boxes, take a moment to think about what your future lifestyle could really look like.
Not thinking long-termA smaller house doesn’t mean smaller dreams. Ask yourself: will you want space for visiting grandkids? A veggie patch or a hobby room? Maybe you’re ready to ditch the mower altogether. Whatever you’re into, plan for it....
17
Mar
The real cost of retirement village fees – are downsizers getting a fair go?
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Posted by
Matt Harris
Deferred management fees and capital gains fees are contentious topics that surround retirement villages, with many over-50s downsizers feeling like they’re getting a raw deal from retirement village operators. A news feature on ABC News in October 2024 shone a spotlight on the issue, featuring interviews with homeowners, their families, and industry experts. The big concern? Complicated contracts, hidden costs, and fees that can eat into the money retirees expect to get back when they sell.
What are Deferred Management Fees (DMFs)?
DMFs and other hidden costs are often marketed as a way for retirement village operators to recoup costs when the property is sold. That money supposedly goes towards maintaining and upgrading the facilities. But critics argue that these fees can be a real sting in the tail. The complex formulas used to calculate them are based on how long someone has lived in the village, and they can be as high as 35 percent of the sale price—meaning a big chunk of money goes straight to the retirement village when a home is sold. How much can it cost?
Let’s break it down with an example: You buy a retirement village unit...
