B38 - Clustered Housing Targeted to Older People

Some areas have residential subdivisions or developments specifically marketed to people aged in their 50s and over as a downsizing lifestyle option.

Some examples are in Tauranga, Blenheim, Nelson, Hamilton and Christchurch.

Most, but not all of these developments offer a lower cost, smaller-sized home and section. These are not retirement villages as defined under the Retirement Villages Act 2003, but like villages, they consist of compact, low-maintenance homes in a neighbourhood with similar-aged people. Some also offer communal facilities.

Some of the developments have a weekly fee to cover the maintenance of common areas and facilities.

There are various ownership arrangements. Some developments are on unit titles with body corporates; others offer freehold title. There are also examples where the householder owns the dwelling but not the land. A few offer rental accommodation.

Pros

Cons

What do I need in order to take this option?

Could this option limit my future choices?

No, this option should not limit your future choices any more than a similar property in a general neighbourhood. However, saleability will depend on many factors, including the ownership structure, location and the features of the home.

For more information

Talk to your lawyer, local real estate agents or residential development companies.