Checklist Before You Buy

Ask yourself these questions

Take a moment and consider the following questions. They may help you decide whether this is the lifestyle you want for your future and may also help you choose the retirement village that best suits your needs.
  • Have I fully discussed my decision to enter a retirement village with my family, friends or advisor?
  • Can I afford to move into the village I have chosen and meet the current and future ongoing costs of living in this village? What are the financial consequences for me if I wish to move out of the village? Have I sought independent advice from a licensed financial advisor on these matters?
  • If I am considering moving to a retirement village because the housework, gardening and general maintenance has become too much, have I fully considered other options? For example, obtaining home help or handy-person help, or moving to a smaller unit in the same neighbourhood.
  • If I am considering moving to a retirement village because I have recently lost my partner, have I given myself enough time to grieve before I make a major lifestyle change?
  • Have I received adequate information about the retirement village I have chosen? Have I shown the documents to a solicitor? Am I satisfied that I fully understand the contract that I am signing?
  • Am I comfortable that the lifestyle of the village (including social activities and religion) will suit me? Have I spoken to any residents of the village?
  • Will the village and my unit be readily accessible if I become disabled and need a wheelchair or walking aid? What alternatives do I have if I am no longer able to live alone?
  • Does the village provide personal care or nursing care, an emergency call system and other amenities that are likely to meet my present or future needs?
  • Can I take my own furniture to the village and, if so, will it be suitable?
  • Before I sign the contract, have I received and considered all the information required to be given to me under the Code of Fair Practice for Retirement Villages 2022 and the Retirement Villages Act 1992?
And remember, if you change your mind after you have signed the contract within the 7 day cooling off period, as long as you notify all parties in writing the contract can be terminated.