3 Reasons To Move To A Land Lease Village

If you've started to think about your living situation as you approach retirement age, then you might have looked at some retirement living options. If regular villages don't feel like the right solution at the moment, then you can move into a land lease community instead.

When is this a good idea?

1. You Want A More Blended Community

One of the main selling points of living in a retirement village is the fact that you live in a community of your peers. Everyone in the village will be retired and in their senior years.

However, this age-range model doesn't suit everyone. You might be a little too young to move into a retirement village yet. Or, you might prefer to live in a more blended community where some residents are a little younger than the norm or still work.

Land lease villages give you more flexibility. Many of these communities have lower age limits for residents. For example, you might be able to move in when you're 50 rather than having to wait until you're 55. While your neighbours will be close to your age, these villages often have a younger and more active demographic.

2. You Want Different Ownership Terms

If you move into a traditional retirement community, then you won't always own your new home. Your payments might go towards buying the right to live in the property rather than giving you full ownership.

You'll also usually have to pay the company that runs the village when you move out. For example, you might have to pay a certain percentage as deferred management or exit fees. This can affect your future savings.

Land lease villages typically allow you to buy your home and lease the land it sits on. You usually keep all the money you make when you sell the property. If the company that runs the community does charge exit fees, these are usually a lot lower than those you'd pay when you leave a traditional village.

3. You Don't Need Extra Help

While many people move into retirement villages to live in an age-centric environment, some move into a community because they need extra help with everyday living or medical care. Traditional villages often kit out homes with aids to make life easier for residents. They can offer a range of home help and medical care services. 

If you can live independently at the moment, then you might not feel ready to move into an assistive environment. A land lease community is a good choice here. You get extra security, activities and friendship as you move into later life; however, you can live fully independently around people who are also more active.

To find out more about land lease communities and how they compare to retirement villages, contact retirement living consultants.