A retirement village is a community of homes and facilities designed for over 55’s who are active enough to live independently in their own home. Residents of retirement villages benefit from added security, a community environment and additional features like community facilities and customisable services.
What is the difference between a retirement village and a lifestyle village?
A retirement village contract will usually give you the option of a strata title or leasehold when you’re selecting accommodation. Lifestyle villages tend only to provide you with the option of a rental agreement. These rental agreements enable you to purchase the house and rent the land that it’s built on.
What is the difference between a retirement village & an over 55’s community?
Despite the various ownership structures and names used, the key difference between over 55 communities and retirement villages is with the loan, licence or lease arrangement. For over 55 communities, the agreement is over the land. In retirement villages, the agreement is over the building.
Who is the owner of a retirement village?
A retirement village is a residential complex mainly occupied by retired people aged over 55 years who have entered into some form of contractual arrangement with the owner.
What can you do in a retirement village?
Bar, restaurant, library, a village store and a range of services are available at this sophisticated retirement living scheme, with a nurse attending at certain times throughout the week in addition to the 24-hour emergency call service.
Can a 55 year old live in a retirement village?
A retirement village is a community of homes and facilities designed for over 55’s who are active enough to live independently in their own home. Residents of retirement villages benefit from added security, a community environment and additional features like community facilities and customisable services. Can anyone live at a retirement village?
Who is the owner of a Lendlease retirement village?
When you buy into a Lendlease retirement village, typically Lendlease owns the land and homes. The “right to reside” in the home on a lease or licence is then sold to you, as the resident. There are also some Lendlease villages where a resident might own a freehold, purple or strata title over the home.
