If you’ve decided to move to an over-55s community, the next step is to find the ideal home. The type of retirement accommodation on offer varies greatly, from apartments and units to freestanding homes. This means choosing the right accommodation type for you is a key factor in finding the right village.
At Village Lifestyle Park, all our homes are freestanding on their own fenced block. On top of this, you have the option to purchase an existing home (subject to availability) or selecting your own block and building a brand new one.
So, how do you decide which is the best fit for you? In this article, we’ll look at the ins and outs of both options to help you make an informed choice.
Buying an Existing Home
With an existing home, it’s ready now. So, once the sale is finalised, you can move straight in! It will also often have those extra touches that make a house a home, such as blinds, fans and established gardens. This means you’ll generally have to spend less time and money on the little things that will make your new home comfortable and cosy.
Another plus of existing homes is that you know exactly what you’ll get before you buy. Being able to walk through the home before you commit allows you to get a feel for each room in the house, plus the yard, outlook and neighbours. This gives you a more complete picture of what it would be like to live there compared to building from scratch.
Building a New Home
The opportunity to choose a floorplan and design that fits your needs and lifestyle perfectly is a definite plus. We’ve partnered with one of Victoria’s most trusted builders, Anchor Homes, which has a great range of designs to choose from. There are some that have been handpicked to suit our allotments, such as the Hazelwood and Rawson. Alternatively, you can customise any of the floorplans or work with their designers to create your dream home from scratch if you have some ideas or special needs.
Anchor Homes uses modular building techniques, so your new home can be built in as little as 14 weeks, which keeps your wait time to a minimum. And importantly, there is something special about being the first occupants of a brand-new home. Not only is your new home modern and stylish, it’s also essentially a clean slate that you can add to as you please to create a space that is uniquely yours.
What About the Price?
Existing homes range in price depending on their size, age and features. Currently our available existing homes start from as little as $168,000 (at the time of writing) and are priced up to $248,000.
To build a brand-new home at the Village, the prices range from $199,500 to $233,750 (at the time of writing).
Final Word on Buying vs. Building Your Lifestyle Village Home
As you can see, both options have plenty of benefits, and the right choice will depend on your personal circumstances. Are you ready to move now and need a fast turnaround? Go for an existing home. Or have you always wanted to design and build your dream home? Choose your land and design and build!
Whatever your circumstances, it’s always wise to seek expert advice from your family, friends and financial advisor. You are also welcome to arrange a visit to the Village anytime to chat with our managers and view existing homes and blocks to help you make the right choice.
Over to You
Do you have a question about buying versus building? Or an experience to share? We’d love to hear your questions and comments.
Want to know more about deferred management fees and other traps related to lifestyle villages? Download our FREE guide, 20 Questions You Must Ask BEFORE Choosing a Village.