Estate agent at Ray White, Emma Walter, said purchasing a property in one of Logan’s retirement villages could cost anywhere from $450,000 to $800,000.
“They’re all a bit different in price,” she said. “But you can’t have a mortgage on a retirement village property, so you’d have to have that money set aside or sell a property to purchase one.”
Selling an existing property before looking to purchase a lease on a retirement village property is best practice, Ms Walters said.
“I would advise people to have their home already under contract before making offers on a property in a retirement or over-55s village,” she said.
“I’ve got a lot of owners that need to sell to buy, and if they haven’t even listed their home yet, the owners in the retirement village think that’s quite a hold up for them.
“If you’ve got a little bit of money ready to go for these ones, you’ve got a better chance of getting it.”
Ms Walter has sold properties in Greenbank Gardens (Park Ridge), Halcyon Rise (Logan Reserve), Claremont Resort (Park Ridge), Regal Waters (Bethania), and Ingenia (Bethania).
Each village may operate slightly differently, Ms Walters said, but all have a site fee which is often paid fortnightly.
“The most expensive site fee I’ve got at the moment is $250 a week,” she said.
“But you don’t have to pay fees for a body corporate, or council rates, because you don’t own the land.”
Over 50s, 55s, and retirement villages continue to be popular in Logan, Ms Walter said.
“There’s so much on offer in these communities, and so much for residences to do,” she said.
At Claremont Resort in Park Ridge, residents have access to pools (indoor and outdoor), a sauna, spa, snooker room, library, reading room, fully equipped gym, recreation centre, and more.
Activities like aerobics, woodworking, lawn bowling, and participating in a men’s shed are run regularly at Claremont as well.
“It’s a community where you can make friends, and if you’ve been feeling quite lonely in a house or on a street where there’s no one to talk to, you won’t have that issue in a village,” Ms Walters said.
“They’re really community-focused, and some of the owners I’ve met have been there for 16 years.”
Image: Ray White’s Emma Walter is currently selling 28/431 Park Ridge Road
Park Ridge South, in Claremont Resort and is accepting offers starting at $409,000.
You’re confusing retirement villages and residential parks (aka manufactured home parks). The financial model is completely different and they are regulated under completely different pieces of legislation. You’re going to confuse older people with this misinformation.