Difference between retirement villages and lifestyle communities A Current Affair Investigation

[@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.

[@Essays4College]

Sorry to hear that Ron. God bless you.

[@adelinaponzio9370]

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

[@patscott6365]

Same!

[@cassieoz1702]

No such thing as 'people to help with mowing, gardening etc' where we live (out of metro area)

[@ritageorge2348]

PLEASE do a show on where the decent ones are like the ones shown at the end.

[@richjones6469]

​@@ritageorge2348, the video was posted by Stockland Residential Communities, not Current Affair. Looks like they're trying to raise awareness and spruik themselves as a good option.

[@eatmeatandliftweights5754]

Same here.

[@leanneward5244]

Retirement villages have always been a huge ripoff the government needs to step in and do something about the way they charge the elderly and the contractor should be changed to stop ripping of the elderly. This isn’t the only business that is ripping people of there are lots of them because the government lets them charge and get away ridiculous fee amounts. Everything in our life needs to be looked at and changed and have set fees for everything this is the problem with everything in our life’s and where it starts and doesn’t stop. How can you pay someone $20 an hour for there work and charge another $300 an hour for there work and so on it’s so wrong so e sort of regulated hourly rate should be changed for every for survival and living without stress and fear. This government has a lot to answer for. The whole set up is disgraceful.

[@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.

[@tonylawrence9157]

See a lawyer or an accoutant, or both. God does not love you. Look after your own self. If you cannot, you will fare badly.

[@skybellau]

Thats it. When the time comes im moving into a waterview apartment - or villa - no more than 5mins from a hospital ....till the day I need top quality nursing care.

[@ultimobile]

too many stories of people being very badly ripped-off when they try to sell their retirement unit - thus the recent story that gov is changing to provide more support for aging-in-place home support services. Having studied contracts I'm confident the contracts on entry to retirement homes sound very reasonable with mention of fees being vagues so as to not discourage buyers, but once you want to sell, suddenly huge fees and delays and enormous costs kill your resale price. Thus my plan to NEVER buy into a retirement village.

[@charlieosko4151]

I feel really sad for people who signed these contracts without understanding what they were signing. Get legal advice, look at all the options and do the maths!

[@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.

[@mmcin719]

My mother was badly ripped off when she got out of her retirement village. They hoed into her with huge fees and charges, and she was stuck there until she bit the bullet and lost a small fortune. When she was there, she could not even touch the garden. Do not touch a retirement village without reading the fine print. Buy an apartment instead.

[@vivienneknuckey9196]

Wish we had him in Adelaide😊

[@chrishart6439]

These places are like rentals on steroids.... don't buy into condos or townhouse's, they are a mess to deal with.

[@K_C83]

if you are an elderly person, but still independent and want to downsize a good idea may be to sell the large home and buy a smaller home. then sign up to myaged care and talk to an aged care provider and get on a home care package. what this means is that you will be able to access discounted services such as cleaning, cooking, transport and in some cases alterations to the home to make it safer and more accessible for you but also keep you independent and in your own home. And at the end of the day when you decide to sell, or your family does they will keep the money instead of the ridiculous exit fees communities charge. And PLEASE PLEASE PLEASE if you so decide to move into a lifestyle village take the document to a lawyer and get them to comb through it for you and outline all the fees should you choose to sell, and also ongoing fees like strata etc. it can often be even more expensive than when you lived in your own home debt free.

[@alexlanning712]

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

[@SamLukie]

One of the greatest scams. Buyer beeare!!

[@davidwelty9763]

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

[@charlieosko4151]

Why would anyone buy an apartment? It's just not your thing.

[@kayaba8702]

Well in Manly NSW, the Catholic Church owns most of the land, you buy a house with 99year lease, how dumb?

[@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.

[@littlelotta7975]

What about ppl who rent is There any traps theree

[@rudydokter5273]

is it a coincidence that a lot of them are owned by Solicitors.

[@padyyiustanding]

The rip-off retirement your exit fees35 percent and admin and renovation plus repairing during the time of living so is like 60 percent or more is gone from your purchase price. If you are still active go to Thailand and come back to Australia regularly, If you have your house appreciating, you have your pension, you have your medical coverage. Don't go to the Triement Village is a rip-off of Australian Monsters, also get close to your children and grandchildren all the time, If you are elderly people may come to SCAME you from everywhere. Australia was not like 30 years ago when Aussie people were much more honest, Scamers from phone internet, handymen, insurance agents, wealth managers, and banks.

[@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.

[@Fegga1955]

🎉🎉

[@fandangofandango2022]

In this Country how We treat our Elderly is nothing Short off Disgusting.

[@naou4030]

Please PLEASE- even if you are self funded, if you need help at home call a government approved home care provider. Even if you are means tested. Stay in your own home and go through My Aged Care do not seek these BS lifestyle communities or retirement villages. Home care providers if you are self funded are expensive yes (expect to pay 1k a month maximum depending on your financials) but in these cases at the very least you have the royal commission on your side!

[@padyyiustanding]

Why not go to cheap countries to travel like Thailand, keep your house keep your pension keep your Medicare in Australia, If not active hire a person from your children. The retirement village is some to your house, nothing more.

[@ehawolczecki8759]

Sad

[@janehanlon2802]

Excatually the way I think , you will lose over 40% of your buy in money

[@jjj14]

Only goons buy into retirement villages.

[@dorothylavin5108]

No need for your remark. I live in a village and am supremely happy after 18 years. i have safety, wonderful neighbours and every facility wanted. I assure you I ain't no dummy . My home is mine, no exit fees for this one.