Who has experience with retirement villages?
I am thinking on these lines:Build a nice group of “villas”, but much more high density than the usual; I am picturing a little town like in the cartoons, very small and real close. Designed for the elderly living alone or couple. Serviced and furnished with a couple of nurses on staff, a kitchen that can deliver meals etc.
Rent would be on the high side, perhaps not for the folks on just the pension, not sure on numbers just yet.
Is there something like this around that you know off I can go and have a look?May God prosper you always.[biggrin]
MarcOriginally posted by Marc1:Who has experience with retirement villages?
I am thinking on these lines:Build a nice group of “villas”, but much more high density than the usual; I am picturing a little town like in the cartoons, very small and real close. Designed for the elderly living alone or couple. Serviced and furnished with a couple of nurses on staff, a kitchen that can deliver meals etc.
Rent would be on the high side, perhaps not for the folks on just the pension, not sure on numbers just yet.
Is there something like this around that you know off I can go and have a look?May God prosper you always.[biggrin]
MarcA gated community with security….. i know my mum, my mother in law, nana, grandma are all paranoid about security when they havent even been affected by crime themselves. Afterall most residents in retired villages are women.
With this feature in mind i am certain that extra securtiy would attract the bigger $$$ paying customers in your retirement village.
Also my Grandma who is in a retirement village, all the food is bought in..they dont seem to make anything in the kitchen on site..which i found kinda strange..
Also they have to be single storey
I know of http://www.sunnycove.com.au
They are developing/building these sort of villages.Thank you for the link and for the added idea of extra security. Didn’t think about that one.
Will keep on looking.
I had the idea of something much more reduced in scale, sort of like a Greek or Southern Italy village, with only walking paths between the miniature houses, and vehicle access from the back.May God prosper you always.[biggrin]
MarcThere are many laws, govt implications and fees involved when dealing with Retirement villages – alot more than your average residential or commercial investment. Make sure you check these out first. Check with your local council – they also have many zoning issues and building restrictions. You need to get more permits and there usually harder to get with retirement villages.
Kind Regards,
George.“If You never never ask, you’ll never never know”
Thank you Geo.
I am sure there must be lots of rules and regulations, yet for one, most council will allow higher density if the property is to be rented to pensioners o disabled people, a clause by the way, vastly abused by unscrupulose developers who built townhoses where it was not allowed to, and sold them since this building rules have no mechanism in place to follow up. So I should be able to build a packed little town for the oldies hehe.May God prosper you always.[biggrin]
MarcOnly a thought as I am not experienced in this – but if you are planning a “community” type room also for residents activities and social gatherings you may be eligible for a govt grant of some sort – depending what’s available locally.
Might be worth checking out.
Cheers, DianeA level site is also feasible as access ramps at a max grade of 1:14 can use up a lot of area if on a sloping site. Design for the disabled/elderly can be rather extensive and costly. As mentioned above, laws and restrictions will be in depth and you will spend a lot of time dealing with council and other government bodies. There are a lot of lifestyle villages around me for the over 40’s which are also booming which provide many social activities along with security !
The Retirement Village where our unit is insures all the units including ours for 10 million dollars. The elderly each pay $700 per week to live there which includes everything from accommodation, food, outings, medical, 24 hr assistance and personal treatment. Our unit is in a high class area – so you have too build in a high class area where the residents can afford to pay such amounts.
Also, units within retirement villages are very hard to onsell to investors. Usually the residents of a retirement village don’t tend to purchase the unit but rather rent it out.
Another thing to keep in mind is that most banks have diidfernt ACTS for lending on retirement village – so make sure you get everything in writing first. Although, its classified as residential (elderly will reside in), banks will only lend you on commercial rates (currently around the 7-8%).
Hope this all helps.
kind regards,
George.“If You never never ask, you’ll never never know”
marc 1 – maybe in this minature little town you could have miniature little dinner parties, on miniature little dinner plates….y’re kidding!
Its alwasy good to read your valuable contributions rogue. Is this your normal state of mind?
May God prosper you always.[biggrin]
Marc
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