Retirement Village FAQ

Pets

The ability of having pets will of course depend on the type of retirement property that one was buying. Especially for those retirement villages who classify apartments as part of a retirement village complex, there might be limitations in the ability of otherwise type of pet that might be able to be kept.

Resale Of Properties

When reselling the property that you are living in, it is important to remember that depending on the terms of accommodation it might be likely offered as a leasehold as opposed to a freehold property. This means, that final ownership of the property may likely rest with the organiser of the retirement village in order that the general identity of the retirement village can be maintained and that they may also make a profit by including a fee for transfer of leasehold ownership. Thus, you will have less control over it in the sense you might have had in relation to your previous property. This could be a key issue to discuss through with the potential organisation that you might be trying to join and something to get straight with them first.

Other Considerations

When moving to a retirement village it will be necessary to budget carefully for ongoing fees and also remember that depending on the setup, you still may be liable for general costs such as electricity usage etc.. You will also need to be aware of any small print such as if you are liable for any damage caused etc.. Also, there may be age and health advice in terms of who this type of living would be most suitable for.

Retirement Villages 2011