At some point it may be time for the next phase of your life which involves moving into a retirement village. This can be appealing to many because your neighbours will be other seniors, your new residence will often be modern and low-maintenance and there will be plenty of enjoyable or useful facilities and services.
Here are some practical tips and warnings for you to take into account before signing up to this big change:
* You will most probably need to sell your home in order to afford the substantial entry fee which can even be in the millions of dollars. Although this can be negotiated with the village operator to a minor
extent, you will need to co-ordinate the settlement of the sale of your home with your entry date into the retirement village to ensure the required funds are available;
* Once you begin residing in the retirement village you will be obliged to pay monthly recurrent charges to help fund the operating costs of the village including repairs and maintenance. But you can
negotiate the amount you have to pay in advance and even have the charges capped at a a maximum amount for the entire time you are in residence;
* Be aware that if a parking space is included with your residence, you may lose it if you cease to have a registered motor vehicle so that you won’t be able to use it for any other purpose; and
* As a condition of entry a retirement village may require you to provide information about your current medical condition and have a medical assessment to ensure that you are able to live independently in
your new residence. You may also be required to keep the village operator informed of any changes to your condition into the future.
There are many other matters of which should be made aware and having the benefit of a lawyer to take you through all the legal documentation involved will ensure you are well prepared!
December 2025