Retirement Village information for consumers.: 43% Of Retirement Village Residents No Happier

43% Of Retirement Village Residents No Happier.

The Weekly Source reports:-

In an industry survey of 19,477 residents across 529 villages residents who purchased within the last 5 years, the Weekly Source reported 57% of village residents reported their life satisfaction and happiness had improved as a result of their move. However this highlights that a whopping 43% have reported that their life satisfaction and happiness has not improved and 13% reported that it had in fact decreased.

There were no results announced for retirees who had been a village resident longer than 5 years.

Given the immediate and long term financial cost of retiree accommodation in a retirement village as apposed to residential accommodation within the general community, this 43% figure and the 13% figure would be expected to grow over time as residents begin to understand the true financial cost of retirement village living.

There are reports that the true cost of living in a retirement village as opposed to a residential tenancy agreement within the general community is almost double. See story here - Renting cheaper than a retirement village

This highlights the importance of Government reforms to ensure retirement village accommodation costs are clear and fully transparent and that the balance between investor returns and accommodation costs to retirees is fair and reasonable.