The ideal size of retirement community for you to move into is a complex argument as there are many factors to consider.
Large communities typically offer more facilities such as swimming pools, gyms, bowling greens and clubhouses, that can make the facility more attractive to buyers. Village fees will also be lower as the costs of running the village are amortised across more units. Smaller villages may be more intimate, where you know every resident.
Typically, not-for-profit operators have smaller villages than for-profit corporations. I don’t kno of any particular reason for this. Possibly because the for-profit businesses are more focused on yield (putting in as many units as the site can be approved to take) than NFP’s.
However more units means more competition for sellers when you leave the village. As a rule of thumb, around 10-12% of a retirement village will “turnover” each year – turnover being where a resident leaves the village and the unit is resold. In a complex of 100 units, this means that 10-12 units will be re-sold each year, at roughly one per month.
In reality, the average time across the industry that it takes to re-sell a unit is around 7-8 months! At a rate of one exit per month, you will soon have upwards of 5-8 units for sale at any time during the year. More units for sale means more competition, more time to sell and logically, downward pressure on resale prices.
If you do choose a large complex, try and select a unit that has a point of difference to help you stand out from the crowd. This could be a larger lot size, fenced garden, more bedrooms (three-bed units are always the most popular in any retirement village!), better views or perspective, or closer to the community facilities.
It could be argued that smaller villages have a better sense of community, however this is not always the case. Large villages comprise many micro-communities around common denominators such as location (the street or section of the village), interest groups, religion or sporting groups.
The last word
Community is what you make it. Don’t move into a retirement village and assume connections are going to happen automatically without any effort from you. The good thing is, it doesn’t take much! The whole environment is designed to promote community and connection.