Do you opt for the eye-catching appeal of a shiny new retirement village, or choose the certainty and comfort of an existing, older-style village?
Do you opt for the eye-catching appeal of a shiny new retirement village, or choose the certainty and comfort of an existing, older-style village?
When making this decision, it’s important to not fall into the trap of making assumptions without evidence. This is because, when it comes to retirement villages, it is well worth doing your research and asking lots of questions.
The good news is that, below, we’ve listed some of the key potential pros and cons , when deciding whether to move into a new or existing village.
Price
No point avoiding this one, so let’s tackle it straight away.
Yes, it’s more likely that you’ll be paying more to move into a new village, compared to an existing village, given that the dwellings you’re moving into – and the facilities – have just been constructed. In other words, people are willing to pay more for something which is brand new.
But read on, because even though a village has been around for a while, it doesn’t necessarily mean the dwellings, or even facilities, are less worthy.
Home design and construction
Homes in a new village have that just-built feel, and are likely to be designed, fitted-out and built to a modern style.
In addition, some new villages have homes with rooftop solar panels, allowing residents to save on electricity costs. This is less likely in an existing village.
On the flipside, homes in existing villages may have an older construction date, but have typically been regularly and recently refurbished as residents have moved in and out.
This means homes’ interiors can often look like new, but have a relatively lower price point.
In addition, you may find that – in an existing village – it’s easier to undertake home alterations such as conservatories, decks and awnings. This may be more difficult in a new village, where the retirement village company is less likely to accommodate alterations given the dwellings have only just been constructed to contemporary design standards.
Facilities
New retirement villages are more likely to contain the types of facilities sought-after by active, aspirational Baby Boomers - think things such as indoor pools, spas, gyms, cafes, small cinemas and putting greens. These facilities can play a big part in contributing to a long and happy retirement.
New villages are also more likely to contain sustainability features also appreciated by many modern-day retirees, such as water and food waste recycling systems, and access to shared electric vehicles (EVs) and EV charging points.
However, not all these facilities may be available when residents first move in. You may find, for instance, that the community centre has been constructed, but not the pool.
The downside of this situation is that it is not possible to look at these facilities before you make a decision to buy, or use them when you first move in. The upside is that there could be a short-term weekly fee discount, given some facilities are not available.
Existing villages typically have less modern-style facilities, but usually come with the advantage that the gardens and landscaping is better established, compared to a new village. This may give the village a more homely, lived-in and often greener feel.
Find out more: From apps to electric vehicles: Five of the latest trends in NZ retirement living
Everything you need to know.
Community
Not surprisingly, new retirement villages result in a group of like-minded people being brought together for the first time to form a new community.
There’s two ways to look at this. One is that, when you move into a new village, you have a chance to meet new friends and influence the feel and personality of this community (such as by suggesting preferred regular activities or hobbies). On the other hand, given it is a new community, it may be a bit of an unknown as to how it may turn out.
Existing villages, of course, have an existing community, with its own well-established way of doing things. As a newcomer, it’s probably less likely you will be able to influence the community’s personality and regular activities.
This aspect is one which is really best examined by visiting the village itself, including going for a walk around and talking to some of the staff and residents. You’ll get an idea, fairly quickly, of what it will be like to live in the village.
Find out more: Ten benefits of living in a retirement village
Village feel
While both older, established villages and newly built, modern villages can meet your practical needs – such as location, price, and facilities – the difference often comes down to the overall feel and how it suits your lifestyle and personality.
Older villages tend to offer a more settled, close-knit community with mature gardens and long-standing traditions. They often have a sense of history and warmth that creates a homely atmosphere.
On the other hand, newer villages provide contemporary designs, state-of-the-art facilities, and a fresh, modern environment that may suit those looking for a more modern lifestyle. Research shows new villages are, on average, larger than existing villages. As discussed above, the community can be strong but is often still forming.
Conclusion
When it comes to choosing between a new or existing village, it’s important to keep an open mind and not make assumptions about what you’ll find in these villages.
After researching the key factors, like cost and amenities, the next step is to visit and experience the atmosphere of each village in person. This is where you'll get a sense of which village resonates with you and aligns with how you want to live. The right village is ultimately the one that feels like the perfect fit for your lifestyle and personality.
Further reading
The Costs of Living in a Retirement Village
