Yeap that's a given mate. Just pointing out there are other ways to skin the retirement cat. Some people are reaching retirement age with very little in the way of invested funds, (hopefully nobody on here).
If they sold their average Auckland home for say $900K and bought a retirement unit in this village for say $75K that would give them some nice options for enjoying their retirement years wouldn't it !
Dirt cheap in Auck is different to dirt cheap in Wairarapa. If you have always lived in Auckland, would you want to move to the Wairarapa, where you may have no family? Economic refugees tend to be younger people.
Interesting article behind the pay wall at NBR. There are 80 units and 40 care beds. $6m is much less than the implied $75,000 per unit as the sale price includes the care bed facility and all common area's and common area facilities. Incoming CEO didn't know the book value of the village when approached by NBR...my goodness, confidence inspiring stuff isn't it !
You want a dirt cheap place to retire too ?..now we know where !
$75k each because there is the obligation to repay the occupant when they 'leave'.
Yeap that's a given mate. Just pointing out there are other ways to skin the retirement cat. Some people are reaching retirement age with very little in the way of invested funds, (hopefully nobody on here).
If they sold their average Auckland home for say $900K and bought a retirement unit in this village for say $75K that would give them some nice options for enjoying their retirement years wouldn't it !
Here's hoping that the government may introduce policies to help equalize the relative appeal of real estate investment and reduce the Auckland predicament, no doubt facing many, of pouring everything into a very expensive house leaving little for financial investments.
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