Thinking of living in a Retirement Village?
This booklet contains important information for intending residents, their families and existing residents of retirement villages. Buying into a retirement village is different from buying a house. It can be complex, and villages vary in their accommodation, support, management, legal and financial structures.It includes practical tips to help you:
consider your personal circumstances and motivations for choosing retirement village living over other options
understand some important legal concepts and terms used in retirement village contracts
be aware of some financial implications of living in a retirement village.
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Her son suggested moving and Sarah began to look at several retirement villages in her city. She talked to residents and compared facilities. Sarah also talked to an independent financial advisor with experience in retirement villages to compare costs and restructure her finances.She consulted a lawyer about the legal, financial and lifestyle aspects of retirement village contracts.
After revisiting the retirement village she liked the best, Sarah made the move. Village life turned out to be comfortable. Thanks to her research, Sarah has a good balance between living independently and having access to support when she needs it.