Originally posted by pargolf
hanabi. You seem to be ignorant of the facts of village life. These are not company costs.
They are costs which they pass on to residents as part of village budgets. After wages, they
are often the next biggest item. They have even been ordered to have an audIt In the past by
QCAT, but at the end of the day, managed to wrIggle out of It. FaIr?
pargolf
My grandparents went into a village similar to Aveo's offering, but at Lend Lease. They knew the contract details inside out and had contracts for a few other villages as well. They did quite a bit of tyre kicking and thought about it for a couple of years. They signed up, and were very happy with their decision. It cost them a lot of money, and they made (bad) jokes about being invited for a special cocktail gala by management etc, as they were hanging around too long. They lived there for a long time, and thought it was a great place. It wasn't some transportable home, and was in good condition when my Grandfather died, and the place was apparently well managed - they were busy all of the time, and felt that they had a good lifestyle and lots of friends.
I'm sure there are some awful places with awful deals at Aveo and everywhere else, but the cost is only one side of the equation, and the other side is the value you get. I seriously doubt many residents are unhappy with the deal, but I can image some real lemon villages as well, and some bad management at some places too. But if you are a bad manager at one of these places, you will be subject to a community orchestrated campaign ,and in most cases I expect they would successfully get rid of you - the residents are old but not stupid, and have plenty of disposable time on their hands.
Exactly CB, buying into a retirement village isn’t an investment decision, it’s a lifestyle decision.
There are posters on HC who only see the ‘price tag’ and pay little heed to the underlying Reasons for
Purchase.
I very much doubt any of the 70,000 current residents would list ‘valuable investment’ in their top 10 reasons for buying.
This issue must be viewed through the eyes and intentions of the purchasers. Yesterday SGP had their AGM and they quoted a 90% happiness factor...AOG quote around 87%.
