Living in a retirement village

Choosing a retirement village - things to consider
Papakāinga Ahungarua | Retirement Villages

Deciding whether to live in a retirement village

Most intending residents release equity from their home or other savings to help purchase occupation rights to a retirement village unit and to supplement their superannuation.

We suggest breaking your decision-making into three parts:

  1. Be clear about your personal and family circumstances and future lifestyle preferences. It’s not just about whether the village is right for you. Know if you are the right fit for the village community.

  2. Understand the costs of entry, costs while you are there, and exit costs. You must be comfortable with the financial implications of becoming a resident, relative to your unique financial position.

    • Use our Sorted tools to work out how much equity you may need to retain for the lifestyle you want.

    • Consider how your assets might be needed if you have a change of circumstances later on and require full-time residential care.

  3. Be honest about whether you fully understand and accept the legal regime, occupancy model and key consumer protections of living in a registered retirement village.