Due to a change of circumstances I recently quit Vision Forest lake retirement village, after four years and a six months occupancy. The following is a copy of my termination statement:-
Initial payment $197100
Less
Village contribution $21900
Amortised February 2005 to August 2009 $61320
Costs
Administation $3319
Refurbishment $11,000
Depreciation $2,104
Rsellers Fee $$11,000
Total costs $28,038
Sub total $89,358
Return to me $107,742
Beware of the costs of termination of retirement villages

whoooo.. you took a considerable hit, this is something to be very awear of before moving to a retirement village.... from the retirement village perspective ,not bad business if you can get it

Ouch!

My aunt lived in a retirement village for several years and loved it. Then her family moved and she wanted to go with them so she put her house up for sale.

The retirement village owners said they would help her to sell it but It took forever to sell and she had to continue paying all costs even though she wasn't occupying it.

We have family friends who live in retirement villages and they enjoy the security and amenities. Most have the option of going from their own homes into serviced units to nursing homes. I guess, though, they plan to be there long term. By the looks of it, it would pay them to stay put!

Desi & I live at Harper Gardens which is two semi circular two storey buildings built around a grassy rosegarden with trees 29 Apartments in all We have an upstairs two bedroom apartment on the end with great city and hill views. We love the views too from our lounge out to Holy Trinity Anglican Church and the community we live in. We are a family. There is security day and night and we have no lawns to mow and have 75 roses in our communal garden we share. Also we have our own balcony garden all inpots.Harper Gardens is part of Anglican Life Cares Fitzgerald Retirement Village which also has a 29 bed Rest Home and a 31 bed Hospital and a separate Dementia Unit. We have a residents Lounge we all use and have happy hour once a month. We lead very independent lives. Desi & I are to be married this Sunday in the Harper Gardens Rose Garden with 100 guests. Watch for our story in NZ Womans Weekly soon. Also we are in newspapers or Stuff under Canterbury Eathquakes.If you want to see our pictures and stories go to Friends Thread and go into Canterbury Grownups Activities Group. Desis Hen Party has just been posted.

GG, at Harper Gardens, the day the furniture is moved out all payments stop. If the unit isn't sold in four months, the money is paid out regardless. We consider ourselves so fortunate to be here - one really nice thing, I am the youngest. That does wonders for me.

More retirement villages should be founded on the Harper Gardens module. Some managements aren't as principled, sadly.

By the way, I'm working my way through my PMs. Will reply soon.

Sorry, just found this thread and just had to reply. I live in a lifestyle retirement village here in Hamilton and we own our titles and share a percentage of the entire village. When we leave/die (whatever) the community gets 10% of the original purchase price of the home and thats all. We pay a small monthly maintenance fee and do not have any managers etc. We run everything ourselves with just an executive committee. I looked into all setups when I decided to sell my home and go into retirement and this is by far the best solution. No risks at all.

Post deleted at 27 Jun 2012 10:58am by GrownUps Administrator

Posting personal details without permission.

My recall of a letter from Peter Orpin to Phil Heatey MP regarding Stonehaven Retirement Village was that Units traded (bought and sold) in a retirement village return capital to the occupier rather than to property owner or mortgagee. That letter and the dialogue around it seems to be missing from all dialogue on this website and Peter Orpin has left the statutory supervisor role. Has there been a change within the industry where occupancy rights are no longer the prioritised capital investment?