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When you buy into a village, you enter a contract to live in the village. You do not buy the house itself. This is because, unlike normal property development, you are also contracting with the village builder to stay on and operate the village for the next 30-plus years,.
Considering the alternatives of staying in the family home and moving to a village community requires examination of not only the financial benefits of each, but also the quality of life aspects as well. Factors to consider are:
The financial concept behind a village community is that you are joining a co-operative where all residents share the costs of running the community.
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Our fortnightly newsletter brings you all the tips and tricks you need for a successful retirement, covering everything from finances and property, to health and happiness. Get prepared and sign up here.
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