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RV - Financial

  • Do you need to visit a financial advisor experienced in retirement villages to ensure you fully understand the financial implications?
  • What is the initial investment required for the unit you are interested in? 
  • How much are the regular outgoing fees? What are they for? 
  • How often are the fees increased and by what rate? (Some villages set the rate when you sign.)
  • Do you understand what is included in the village insurance cover? 
  • Have you contacted an insurer to arrange the additional cover you will require?  
  • What other on-going costs do you need to factor into your budget? (e.g. power, telephone, satellite TV, personal insurance, etc.) 
  • Sometimes payments can be deferred. Do you know the implications of this?
  • Do you know what would happen if you run out of money?
 
It’s useful to create a comprehensive rating scale as it helps keep you focused. This is a very basic one.
  • Location                                                        /10
  • Overall village offerings and appearance          /10
  • Unit                                                               /10
  • Price – initial investment & ongoing costs         /10
  • Other important criteria                                  /10
 
TOTAL                                                           /50

RV - Legal


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