For seniors, retirement is often seen as a quiet life in a sprawling, leafy village.

Yet, as times change, many seniors have been updating their visions and plans for their golden years.

Across Australia, a new trend is taking shape, and this approach could be a game-changer for many.

The days of retirees being tucked away in distant suburbs are fading fast.

With property prices soaring and land at a premium, especially in major cities, developers are reimagining what retirement living could look like.

Instead of building out, they're building up.

Retirement homes may take a new, modernised form through upcoming developments. Image Credit: Aveo Retirement

Developers are planning to create vibrant, multi-storey communities in some of the country's most sought-after locations.

These homes will then be packed with amenities and located close to shops, transport, and medical services.

'Given the nature of the housing supply markets around the country, some of the only ways for these people to keep living in the communities they've loved is to move into more dense residential offerings,' Daniel Gannon, Executive Director of the Retirement Living Council, explained.

So, what can you expect from these new high-rise retirement villages?

These homes promise amenities such as swimming pools, gyms, cafes, libraries, communal gardens, and even cinemas.

Many are located in prime spots close to shopping centres, parks, and public transport.

Retiree Sue Archer passed up the traditional retirement villages in favour of Aveo's Bella Vista Haven.

Aveo's Bella Vista Haven is a modern, vertical community located in New South Wales.

Sue's modern home has fully accessible apartments and 24-hour emergency call systems.

For her, the appeal of a high-rise retirement village was the promise of a lively social environment, a strong sense of community, and top-notch facilities all under one roof.

'I'm currently living in a two-bedroom apartment where all my neighbours are never around because they're all at work,' Sue shared.

'I just found I'm really isolated now.'

It's not just Aveo leading the charge.

Eight out of ten new retirement villages have also embraced the high-rise model.

For many retirees, this means less time spent on home maintenance and more time enjoying life.

The social aspect has been a big drawcard—regular events, clubs, and shared spaces make it easy to meet new friends and stay connected.

However, moving into a retirement village is a big decision that comes with financial responsibilities.

Retirement properties could be up to 43 per cent cheaper than equivalent apartments in the same area.

Yet, there are some key differences between these properties.

Bella Vista Haven operates on a leasehold model.

Instead of buying the apartment outright, residents purchase the right to lease it for up to 99 years with no stamp duty.

However, freehold options for those who want to own the property still attract stamp duty.

There's also a monthly fee to cover the maintenance of services and facilities.

Most contracts include an exit fee and a refurbishment charge when tenants leave.

'We say to any prospective resident thinking about moving into a retirement village to obtain independent legal and financial advice to make sure that this move is right for your conditions,' Mr Gannon advised.

While the idea of high-rise living might not appeal to everyone, these new retirement villages offer an alternative for seniors who want to downsize without compromising their lifestyle or location.

For many, it's a chance to enjoy the best of both worlds: the security and support of a retirement community with all the excitement and convenience of city living.

Key Takeaways

• Retirement villages in Sydney are shifting away from traditional ground-level layouts towards high-rise buildings.
• Vertical retirement villages are becoming popular, with eight out of ten new developments now consisting of high-rise apartments.
• Leasehold models allow residents to lease their apartments for up to 99 years with no stamp duty, yet tenants have to pay monthly service fees and exit and refurbishment charges.
• Prospective residents were encouraged to seek independent legal and financial advice, as contracts and fees could vary significantly between different retirement villages.

Are you considering a move to a retirement village? Would you prefer a traditional, ground-level community, or does the idea of high-rise living tempt you? What amenities or features would be most important to you? Please share your thoughts and insights about these homes in the comments section below!

 

[Koda]

I would love one of these units in high rise with a balcony/patio but no one mentions price. Just because we are downsizing doesn’t mean our current home will bring millions some of us only have modest homes and would not be able to afford these homes in fact would struggle to afford a regular retirement village unit they are getting too dear

 

[Ricci]

I would love one of these units in high rise with a balcony/patio but no one mentions price. Just because we are downsizing doesn’t mean our current home will bring millions some of us only have modest homes and would not be able to afford these homes in fact would struggle to afford a regular retirement village unit they are getting too dear

I know what you mean. I live in a retirement village, in a 3 bed/2 bath/2garage single story unit that I bought 8 years ago for $500k. The unit next door that is exactly the same as mine has just gone to market at just over $1mil and there are people prepared to pay that sort of money. It's ridiculous.

 

[Suzanne rose]

I know what you mean. I live in a retirement village, in a 3 bed/2 bath/2garage single story unit that I bought 8 years ago for $500k. The unit next door that is exactly the same as mine has just gone to market at just over $1mil and there are people prepared to pay that sort of money. It's ridiculous.

Prices down your way have sky-rocketed

My daughter paid $750k 2 years ago for her house in Worrigee and similar is now close to the $ million

This is similar to hers except her land is bigger

 

[novezar]

The posting mentions "Exit Fees & Refurbishment" costs.

Well, I'll be. Those costings will be 'Killers' to any one.

Friends of ours were in a similar situation, where they sought permission from management of their establishment to, at their cost, had new "Bamboo" flooring put down in the internals of their" Villa style Unit" except for where the carpet was in the lounge room section & bedrooms.

When they left, the unit was in better shape than when they purchased same & moved in.

Yes, you guessed it, they were hit for "Refurbishment" costings where absolutely nothing was required to be done. The unit was in pristine condition.

It's all a "Dog eat Dog" situation. They'll get you one way or another.

 

[HelenB55]

Sounds so exciting & wonderful…. but it will come at a pretty hefty price.

Seems they want us “oldies” out of our homes, only to go into these clustered apartments where any virus or infections will run rampant.

I understand that some people do like the idea of having people around them all the time, but not us. We’re staying in my our own home for as long as we possibly can.

 

[Benny's Light]

The concept of a retirement village is very tempting, however ongoing costs for the 'lease part of the land' and the exit fees and refurbishment costs of moving on has huge hidden costs in many places. We have been looking into this for us, but we worry that if we do move into a retirement village and need to sell to go into a care facility, we will not have enough money left to pay for this once all the hidden costs are taken out. I like the idea of a tower in favorable places, but I would miss the garden too much for this. This is a huge mine field to look into as you hear so many horror stories about hidden costs and fees.

 

[Rosi Gordon]

These units are already available and the prices to buy are reasonable for what you get but only the wealthy can afford to pay the fees and refurbishments not the average pensioner.

 

[DLHM]

Seems they want us “oldies” out of our homes, only to go into these clustered apartments where any virus or infections will run rampant.

Such a lovely view you have of, retirement apartments. “Clustered…virus or infections will run rampant”.

I don’t live in one, but I do know that many of these places have medical staff on call 24/7. People living on their own could find this gives a feeling of security.

 

[Ricci]

The concept of a retirement village is very tempting, however ongoing costs for the 'lease part of the land' and the exit fees and refurbishment costs of moving on has huge hidden costs in many places. We have been looking into this for us, but we worry that if we do move into a retirement village and need to sell to go into a care facility, we will not have enough money left to pay for this once all the hidden costs are taken out. I like the idea of a tower in favorable places, but I would miss the garden too much for this. This is a huge mine field to look into as you hear so many horror stories about hidden costs and fees.

When I downsized into a retirement village I paid all the exit fees upfront, that way it's calculated on the purchase price only (hopefully less than the selling price). The village owners have that money, plus any interest, for years so they're not really out of pocket. That means that when I pop my clogs my son will only have to pay the fees associated with selling the property.

 

[mylittletibbies]

I would never give one minutes consideration to a retirement village.
My mother moved into one many years ago when she passed the place was in immaculate condition.
We had to wait for the funds over 6 months from the settlement date and only received them when we hired a solicitor and threatened legal action.
They were full of continual excuses and even when we finally did get the funds they had taken every possible penny out of the place.
They said the place was repainted. It had only been done six months prior. They replaced floor coverings that were only six months old, or at least they said they did??
Unfortunately I wasn't able to travel to Melbourne at that time to check things out and I just wasn't in a situation where I could get into a long legal case.
However I still believe these places are as shonky as and would never buy one myself.

 

[PattiB]

Prices down your way have sky-rocketed

My daughter paid $750k 2 years ago for her house in Worrigee and similar is now close to the $ million

This is similar to hers except her land is bigger
View attachment 75678

House prices are becoming ridiculous! I glance through the real estate section in our local paper & continue to be astounded by the number of houses with million plus dollars on them. Units are increasingly expensive also. As my son says, “it’s Launceston mum, what are they thinking?” Most of the retirement places are also expensive, so we plan on staying put. I do like having people around me, but we have great neighbours.

 

[Suzanne rose]

House prices are becoming ridiculous! I glance through the real estate section in our local paper & continue to be astounded by the number of houses with million plus dollars on them. Units are increasingly expensive also. As my son says, “it’s Launceston mum, what are they thinking?” Most of the retirement places are also expensive, so we plan on staying put. I do like having people around me, but we have great neighbours.

I truly do not know how young people can even get into the market of purchasing their own home

 

[mOiOz]

I understand that building higher is very convenient for increasing housing availability. However, this is NOT a good idea for the Aged or Disabled!
The idea of evacuating these people in a fire or any other emergency will result in disaster!
I personally think it's a shocking idea, unless they can build or create another way of evacuating, other than stairs and lifts!
I moved out of a townhouse into a one-storey home, mainly because of my difficulty using the stairs, and even now, the only 3 stairs leading to my garage have still proven to be a problem. I would hate to think of living in a high-rise with no working lifts!
You won't find me or my loved ones there - unless it's on the ground floor!!!!

 

[Macarj]

Prices have even gone up in Tasmania we bought our 7acre property with 2 X 3 bedroom homes on in 2012 for $522,000 now it is valued at $1,100,000 my daughter and 3 of our grandchildren live in one of the homes we live in the other it is great having the grand kids so close

 

[Luckyus]

RRRRRRIPOOOOOOFF?

 

[Suzanne rose]

RRRRRRIPOOOOOOFF?

That's a loooooong word