Downsizing Community vs Retirement Village
Date Posted: July 6, 2021
As you navigate the journey towards downsizing, it can be easy to get confused between Downsizing Communities and Retirement Villages since they share some similarities. Both usually offer on-site facilities, low-maintenance accommodation and a strong sense of safety and security.
Here’s an outline of some of the ways Downsizing Communities and Retirement Villages are different:
Age and ability
Downsizing communities typically attract younger, active and independent homeowners who have chosen to live in a secure environment, in a great location, with like-minded people of a similar age.
Many retirement villages offer on-site or affiliated residential care services. Because the average age of a person moving to one of our affiliated communities is younger than traditional retirement villages, these services are not required. Our members’ communities are home to active and empowered over 50s who have a zest for lif
Because downsizing communities are different to retirement villages, you don’t need to be retired to make your move! While many homeowners within these communities are retired, there are still a number of individuals who work full-time, part-time, casually or are self-employed.
Title and tenure
Most Downsizing Communities work on the Land Lease model where you buy your own home and lease the land on which it sits via a Weekly Fee. To safeguard residents, the land leases are typically for extremely long periods and in some cases are perpetual. The Weekly Fee varies depending on the community you choose and whether you’re single or a couple. If you’re eligible for the pension you can also take advantage of government rent assistance to make the Weekly Fee even more affordable.
Many Downsizing Communities have no exit fees, although exit fees do vary depending on the community and state in which they operate.
If you think making the move to a downsizing community is the right move for you, check out our members’ beautiful locations to find your perfect match.