What’s best for you: rental village, retirement village or resort park

Video Description

There are three kinds of retirement community style accommodation in Australia: the traditional retirement village, rental villages and resort parks, also known as manufactured home parks.

All three are very different but each of them offers accommodation to help you age well.

In simple terms the traditional retirement village is for people aged over 55 who can live independently. This means looking after yourself, cooking your own meals, cleaning and generally leading a normal life.

The key attractions are that you can downsize from your big family home into a new home specifically designed for safety as you age, with a real community to keep an eye on you.

The second type of village is the rental village; you pay weekly rent and in most cases there is the option of meals being provided. You can also receive rental support from Centrelink.

The third village is the resort Park, also known as a manufactured home park. Like a caravan park, you own your own home but you rent the land it sits on. Resort parks can be a real surprise, with five-star facilities and a special community feel.

Why do people choose one model over another?

Retirement villages appeal to people who are looking for a home that is purpose built for us as we age, perhaps with declining health, in a safe, supportive community.

Rental villages appeal to people with a tight budget, are eligible for Centrelink rental support and are also looking for a supportive environment.

Resort parks are ideal for people who want an affordable home, backed by government rental support.

Each type has its own financial model.

Check out other videos for a deeper explanation.

And remember, the idea in every village is to age well.