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.

[@Fegga1955]

🎉🎉

[@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.

[@vivienneknuckey9196]

Wish we had him in Adelaide😊

[@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.

[@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.