One of the benefits of moving from the family home into a retirement village is that it can give you a new home suited to your lifestyle at a price that’s affordable, while freeing up some extra dollars to enjoy a few of things you’ve always wanted to do. It also provides you with access to a range of community facilities and activities.
However it is important to understand all potential costs and seek independent financial advice. The following sections break these down by the key phases of entering, living in and leaving a retirement village.
These are just a few of the questions you’ll need answers to.
The average cost of a two-bedroom home in a retirement village starts at $424,000. This is below the median Australian dwelling price at $568,972 for houses and $513,468 for units.
The purchase price of your new village home is just one of three different types of costs attached to living in a retirement village. Generally, these are:
Read more about the different types of costs below.