Difference between retirement villages and lifestyle communities A Current Affair Investigation

It is important to know the differences between retirement villages and lifestyle communities. At Halcyon lifestyle communities there are no entry or exit fees, and you keep any capital gains should you sell. Importantly, do your research and make the decision that best suits your situation.

[@adelinaponzio9370]

I’m staying in my home - cheaper to hire people to help with mowing, gardening etc, why sell & move into a dog box?

[@leilanilea]

It needs government intervention to research this properly and bring these people to heel. They are obviously. Taking completed advantage of these elderly people it's disgraceful.

[@ronsmith2241]

I cared for my wife in the disabled home we built. She has now passed. I plan to just stay here. Everything I may need in future is right here. I get all the capital gain.

[@OziBlokeTimG]

It's a joke which needs to be exposed. It's misleading, despicable, just theft. It maybe legal and all covered in the contract. But unethical, unfair to say the least.

[@vivienneknuckey9196]

Wish we had him in Adelaide😊

[@prancer4743]

One big suck in no family wealth left one way in and no way out 🤔😉🤔😉

[@Fegga1955]

🎉🎉

[@meipakyu4688]

Problem with retirement villages that dont have exit fees or capital gain fees is that the house is a leasehold. You dont own the property. If the management sell the village, and the new management decided to redevelop the place, you will be kickout.

[@WrinklyTraveller]

Incorrect, in a lifestyle community the house is not leasehold but the land is. When you buy the house, you own it. There are no entry or exit fees and you don't pay stamp duty. When you sell the house, you retain the capital gain on your house. They also can't sell the land from under you. That is the big difference between this and a retirement village.

[@OziBlokeTimG]

@meipakyu4688 disagree, it all about the money. And not being upfront. Sales pitch.

[@graywilliams_77.]

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.

[@OziBlokeTimG]

@graywilliams_77. Good for you, your very much in the minority.

[@davidwelty9763]

Why would anyone buy a home where you don’t own the land?

[@margaretrodd3070]

Canberra properties have a 99 year leasehold title. The First Nations people are saying pay the rent….many will be hit in the future…what do you think?

[@alexlanning712]

I wouldnt go to one even if I had lost my marbles