LEAVING THE VILLAGE
It is important when you ENTER a retirement village in New Zealand that you know what to expect when you LEAVE a village:
- Do you understand what the Deferred Management Fee (DMF) is and how this will influence the amount you receive once you sell your home?
- Who receives any capital gain resulting from the sale? What about capital loss?
- How will your unit be sold? Can you/your estate have a say in how it is valued/marketed? Makes sure you know where they will advertise. www.retirementvillages.co.nz has the most village listings in New Zealand.
- Who pays the marketing, administration, and/or refurbishment costs?
- Will you be reimbursed for any improvement/alteration you have made to the unit?
- Will you be responsible for paying maintenance costs/weekly fees while the unit is on the market? If so, for how long?
- When will you/your estate receive payment from the sale? What if there are delays?
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Updated: 20 Jul 2023