Retirement villages are more affordable than general residential homes when you factor in the total living costs for older Australians, according to a new report by University of Technology Sydney.
Report author and property finance specialist Lois Towart compared the financial and lifestyle factors of retirement village living including entry fees, ongoing costs, facilities and services and exit fees using data from the Property Council and PwC Australia.
She found that while the ownership costs of a house are lower, the real savings are provided through the lifestyle services included in retirement villages.
“Village services and facilities represent value for money that is very hard to find in the wider community,” Ms Towart said.
“Different locations are also more seniors friendly in terms of ability to access to facilities, so there is considerable regional variation.”
You can download the full report HERE.