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Benefits of a Lifestyle Village vs a Retirement Village

Jul 30, 2021

When it comes to a lifestyle village vs a retirement village, the differences are not vast, but they are significant. 

 

Indeed, it’s the detail that matters, because buying into a retirement village or lifestyle village all comes down to fees and contracts.

In terms of fees and contracts, how does a retirement village work?

It all boils down to retirement village contracts involving one or multiple ownership structures, including: 

 

  • Strata title
  • Leasehold
  • Rental.

Strata title

For a strata title retirement village, the fee charged essentially covers your right to occupy the property and to avail of the village’s facilities. Importantly, the strata title status means you will likely have to include Stamp Duty into your outgoing cost calculations.


Deferred management fee

Although details can differ from contract to contract, there is a good chance that a retirement village will include an exit fee clause, also known as a deferred management fee, or DMF. This figure is significant and has potential to really eat into your capital. Again, depending on the specific contract, you can usually expect to pay somewhere around 25% to 40% of either the original purchase or the sale price. 

 

So, when it comes to buying into a retirement village, the costs can be significant both at the point of purchase and sale. 

 

And how does this differ for lifestyle villages?

 

We’ve seen how a retirement village works, now let’s consider lifestyle villages. 

 

In a nutshell, a lifestyle village - or land lease village as it is sometimes called - simplifies things significantly. You are charged the purchase price of your home and the leasing cost for the land on which it is built. 

 

When it comes to a DMF, this typically sits at a lower price than retirement villages. 

The lack of Stamp Duty and Exit fees also makes land lease living a very cost-efficient option. 

 

A final but considerable differentiator is that land lease living residents may be eligible for government Rent Assistance due to the fact that they lease the land as opposed to owning it. 

 

Benefits of a lifestyle village

 

Land lease living aside, it’s not just finances that make this a smart option for retirees! The benefits of a lifestyle village go beyond the budget and include: 


  • Being amongst like-minded people - forget noisy neighbours, late-night parties and inconsiderate residents. One of the most important benefits of a lifestyle village is that everyone else seeks the same kind of lifestyle! Peace, tranquility, an opportunity to be social when it’s desired, and a respect for privacy;
  • Proximity - in the case of Central Village, the name says everything! Retirement living in Newcastle means you’re located in the heart of town, just minutes from the beach, shopping, clubs, entertainment and more;
  • Maintenance support, even when you’re away. Land lease living is all about having the freedom and flexibility to do everything you want to do in life, especially holidays or taking trips to visit family and friends. Knowing you can leave your home in safe hands whilst you’re away offers great peace of mind;
  • No hassle moving - they say moving house is one of the most stressful experiences in life. Not anymore - we take the worry and work off your plate; 
  • New homes - forget investing your money in expensive upgrades. Lifestyle villages provide new, contemporary homes that are low-maintenance, energy efficient and stylish


Retirement living in Newcastle can be affordable, flexible and thoroughly enjoyable when you choose Central Village. 



So if you’re considering making the move and you’re unsure whether to opt for land lease living vs a retirement village, we hope we’ve helped clarify things! Don’t hesitate to reach out to our team to find out more, we’d be delighted to hear from you.

Retirement Village & Lifestyle Living in Mayfield, NSW

17 Aug, 2021
Moving into Central Village means moving into the contemporary retirement living that you deserve. Community, security, comfort, convenience; we know how important it is that your retirement village delivers these - and so much more - in spades. Gone are the days of people looking to buy retirement homes; you’re living your best life, and you want a retirement village that not only reflects that but builds on it. You’re in good company - welcome to Central Village. A vibrant lifestyle village in Newcastle, New South Wales Here at Central Village , you’re never far from something to see, somewhere to be, or someone to meet. The best retirement communities keep you, well, central. So what do you feel like doing today? Perhaps you’d like to join in one of the village activities that interest you? There’s plenty on offer - your neighbours are like-minded people who also embrace independent living. Indeed, this is the kind of place that feels more like a welcoming small town, but with all the conveniences of bigger city living. Alternatively, why not take the short journey into Newcastle and visit the art galleries, clubs, shop, or catch up with friends? Maybe you need a fix of the Hunter Valley’s natural beauty? That’s easy - escape to the vineyards, the beaches, Lake Macquarie, or Watagans National Park. It’s all here on your doorstep, and the choice is yours! Retirement homes with resort-style facilities Our 55s homes in Newcastle blend technology, style and energy efficiency. Here at Central Village, there is no need to worry about security, upkeep and maintenance. Whether you’re heading out for dinner with friends or going further afield on a holiday, your home is in good hands. Select from our 2- and 3-bedroom homes available now, or peruse our soon-to-be-released new plans. Each home comes with energy- and water-saving fixtures and features, including premium quality SMEG kitchen appliances, cable or satellite TV and, of course, broadband internet. Full of natural light, the stylish interiors are designed with Newcastle’s climate in mind, so you can relax knowing you have proper insulation and heat and air conditioning. Enjoy contemporary bamboo flooring, built-in bedroom robes, handy storage sheds, convenient internal laundries, and lot fencing for privacy. And perhaps best of all, your pet is not only allowed; it’s encouraged. You might be living in over 55 villages in Hunter Valley, but the conveniences and finishes make this feel like a resort holiday every day. We make moving easy We don’t complicate life at Central Village; we make it effortless. Before your key is even in the door, we can assist in making your move as low-maintenance as possible. Leave the organising, transporting, packing and general hassle to us. We offer so much more than retirement homes for sale - let us do what we can to help you enjoy your life, not coordinate it! Let’s talk about your move into the neighbourhood We know you’re not just looking for property for sale. And retirement homes in the Hunter Valley alone won’t suffice, either. So this next move needs to be about finding a community with the right fit. It needs to be not just an extension but perhaps even an enhancement of the life you currently live. And you need to be central to all of it. We’ve got exactly what you’re looking for, and we can’t wait to welcome you. Contact us today to find out more.
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