Hi Guys,
Just been reading an article in today’s Sunday Mail about a new development planned for the Gold Coast which will target people in their twilight years, aged 75 – 85 yrs. It’s a 135 apartment waterfront resort thats all inclusive; no more electricity, meals, rates, insurance, repairs, cleaning plus use of library, pool, music room and the list goes on. People will rent rather than buy shelling out an average of $3500 a month. Just wondering what others think of this concept that has apparently been very popular in the US? They plan to build the first one of the Gold Coast and then Sydney.
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
I think its a decent idea. Although doesn’t the gold coast already have an oversupply of apartments.
Sounds similar or like an alternativer to a care facility – I guess without the care but everything else provided. Older people don’t want to worry about the complexity of costs, and thus will be a good alternative to a care facility. I guess when they get older, and need care they can simply move out.
I’ve been of the belief that the aged care facility is a good investment for a few years now. The aged is a growing industry and as people can be kept alive for longer (not always a good thing) we have more older people needing part and full-time care for longer.
But my goal is not buy into one one apartment at a time; I want to build and own one (or more) complex outright;
I think it is probably more a cashflow than cap gain investment, and I wonder as an owner of just one or a couple of theses apartments how good the cashflow would be?
I also think that the purchase of these apartments when new could be like buying into new apartment developments – the first purchasers usually get stitched up in price to cover the developer’s costs.
My fear is that the industry will become (like the apartments) one where the rents are set to satisfy investors who think that 5or 6% rent return is good. It’ll become a “packaged” investment, sold with rental guarantees and wonderful depreciation benefits ra ra ra, to uneducated investors and the only winners will be the developers.
I reckon as the owner of the whole complex the investment would be worthwhile.
Cheers,
Marc.
[email protected]“we get sent lemons; it’s up to us to make lemonade”
Hi all
I thought I posted on this the other day ? where it went.
Anyway, there is a co. called ” Village life” that works the same, they are in every state. The have about 3 grades of accommodation with cleaning and 3 meals aday etc. The rent is approx. 2/3 of the age pension.
You can buy them for investment. I looked into them for my mum, I would be in like flynn, if I was alone and over 55.
Some of the retirement villages you cannot buy them if your are not over 55. I checked this out also.
Celeste
Celeste you did make a reply post on the “other” forum!
Sorry to confuse you!AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
You must be logged in to reply to this topic. If you don't have an account, you can register here.
