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Retirement villages

Retirement villages

A retirement village is a community specially built to cater towards the needs and lifestyles of older people. Villages vary greatly across New Zealand – from accommodation and care options to on-site facilities – so there are lots of options to consider. If you are considering village life, it pays to do your research and to get specialist financial and legal advice.

Overview of retirement villages

Retirement villages
At what age am I eligible for a Retirement Village?

The age that you need to be to enter a Retirement Village in New Zealand varies by village. Some villages may allow residents to enter at 55 while others commonly have a minimum entry age of between 65 and 75. Find out more on retirementvillages.co.nz - we have every village...

Retirement villages
Do all villages have to be registered?

The majority retirement villages in New Zealand are registered with the Registrar of Retirement Villages, a part of the Ministry of Business, Innovation and Employment. Residents living in a registered village are protected by the Retirement Villages Act 2003. This includes protecting residents from mortgagee sales, liquidation or receivership, and...

Retirement villages
Do residents need to move from the village to receive care?

While it is true that some village residents may need to receive care in an alternative facility, it is by no means the most likely scenario. In fact, only 12.8% of Kiwis living in villages end up being moved to a different facility to receive care and more than half...

Retirement villages
Find information about moving into a retirement village

Considering making a move to a retirement village? Retirementvillages.co.nz is New Zealand’s most comprehensive guide to retirement villages, and showcases every retirement village in New Zealand. It hosts the country’s largest selection of properties for sale, with more than 500 properties currently listed. Search available properties across every region to...

Retirement villages
Follow the retirement village journey

The following example shows how the Deferred Management Fee (DMF) is worked out in New Zealand and how it affects the final payout. Example – Mr C Mr C chose a unit in a village near to his old home. He did his homework which included: Using the village checklist...

Retirement villages
I want to read reviews of retirement villages

The Eldernet Group prides itself on being an independent and unbiased source of information for older people and their families. While we acknowledge that reviews may be used by some people to make decisions about where to live, we also recognise that no one person’s experience is the same as...

Retirement villages
Is a care apartment different to a serviced apartment?

A care apartment is a hybrid-type option that combines a village offering (therefore something that requires an upfront ‘purchase’ price) and support at a higher level of care as certified by Manatū Hauora Ministry of Health and governed by the Age Related Residential Care (ARRC) Agreement. Some facilities may refer...

Retirement villages
Is a villa in a retirement village the right option for me?

There is a range of different accommodation options to choose from in retirement villages across New Zealand. A popular choice for many people is a villa. A villa is a good option for people wanting to maximise space. Villas are commonly free standing and offer a modern open plan kitchen,...

Retirement villages
My village unit has been flood damaged. What are my options?

If your village unit has incurred damage as a result of a natural disaster (such as a flood), the village operator should communicate next steps with you. ConsumerNZ has provided an outline of your rights if you live in a food damaged village unit: Residents who need to evacuate a...

Retirement villages
Mythbusting - Retirement Villages are a rip off

You might have heard that people lose a lot of money when they move into a Retirement Village, or that entering a village is a ‘rip off’. We have found that people that make those kinds of statements usually do not understand how the unique financial agreements work when entering...

Retirement villages
Mythbusting - Retirement Villages are expensive

Are Retirement Villages expensive? In short, the answer is ‘not always.’ There can be some very affordable homes within Retirement Villages, however, not all are priced at the affordable end of the market either. Just like real estate on the open market, Retirement Villages offer a range of options –...

Retirement villages
Mythbusting - Will I get access to care on site?

If I live in a retirement village will I get access to the care home on-site? The truth is that if you need a high level of support and can no longer stay in your village unit, you are likely to be able to access care in the onsite care...

Retirement villages
Rates Rebate in a retirement village

Retirement village residents with a Licence to Occupy are eligible for the Government’s full Rates Rebate if they meet the income criteria. The new threshold amounts are set every year in mid-June. You will find more information on rates rebates in retirement villages in New Zealand here. An application for...

Retirement villages
Retirement Village Living in New Zealand - JTJ Gold
Retirement villages
Retirement villages
Retirement villages
What are the costs of entering a village?

Depending on where you want to live in New Zealand, the cost of ‘buying’ into a village can vary greatly – some units can be priced in the $100,000s while others are in multi-millions. This ‘purchase’ price is known as the Capital Contribution Every retirement village unit listed on retirementvillages.co.nz...

Retirement villages
What costs will I still need to pay once I enter a village?

You are responsible for paying for your personal costs, such as personal contents insurance, internal maintenance to your dwelling, power, phone and paid television/streaming services. You may also find that some activities/outings incur additional costs too. The majority of retirement villages in New Zealand also charge weekly fees, which covers...

Retirement villages
What does it cost to live in a retirement village?

All retirement villages in New Zealand have associated costs, such as weekly fees. These generally cover things such as council and water rates, building insurance, external maintenance (including gardening), upkeep of communal facilities, staff costs, gardening and management of the village. You are responsible for paying for your personal costs,...

Retirement villages
What is a Disclosure Statement?

A Disclosure Statement is one of the documents you will receive if you intend to ‘purchase’ into a village (alongside an Occupation Right Agreement or ORA). A Disclosure Statement is an important document to read and understand, as it explains the key information about moving to a village, including the...

Retirement villages
What is a Retirement Village?

Retirement villages are an increasingly popular choice for older New Zealanders who want to live independently among a like-minded community of people. But what exactly is a retirement village, and what should you expect if you decide to move into one? Under Section 6 of the Retirement Villages Act 2003,...

Retirement villages
What is a statutory supervisor?

All registered villages in New Zealand are required to have a Statutory Supervisor. Their role is to monitor the financial position of the village and the security of its residents. They are independent from the Village Manager and are regulated by the Financial Markets Authority. The Statutory Supervisor reports to...

Retirement villages
What is a weekly fee in a village and what does it cover?

All retirement villages in New Zealand have associated costs, such as weekly fees. These generally cover things such as council and water rates, building insurance, external maintenance (including gardening), upkeep of communal facilities, staff costs, gardening and management of the village. Learn more about the cost of living in a...

Retirement villages
What is the Code of Residents Rights?

The Code of Residents' Rights outlines the basic rights you have as a resident living in a New Zealand retirement village under the Retirement Villages Act. A copy of it must be given to intending residents with their disclosure statement, as well as to any resident or potential resident if...

Retirement villages
What is the Deferred Management Fee (DMF)?

The DMF is an amount you pay when you leave a village, rather than when you join. The figure is defined in your contract. The deferred management fee is a delayed (and deducted) payment you (or your estate) make on exiting the village. It is to cover the cost of...

Retirement villages
What is the Retirement Villages Act?

All registered retirement villages in New Zealand are governed by the Retirement Villages Act 2003. The Retirement Villages Act and its regulations are designed to protect the interest of residents, and sets out basic standards for operating a village. These include disclosure of information to all residents (current and intending),...

Retirement villages
What is the Retirement Villages Association (RVA)?

RVA is the abbreviation of the Retirement Villages Association. The RVA is the professional body which represents most Retirement Villages in New Zealand. Members of the Association pay a fee to belong. The Association works on behalf of their members in a number of areas. One important area is to...

Retirement villages
What is the Retirement Villages Code of Practice?

This Retirement Villages Code of Practice establishes minimum requirements that retirement village operators must comply with to meet their legal obligations in New Zealand. These include some occupation right agreement terms and different types of policies an operator must have. Areas covered under this code include: Staffing of retirement villages...

Retirement villages
What is the role of a retirement village manager?

The retirement village manager is the legal representative of the owner/operator of a village. They are responsible for the day-to-day running of the village – from employing staff and overseeing building maintenance, to arranging activities and ensuring all residents get the care and support needed. A retirement village manager also...

Retirement villages
What kind of homes are in a retirement village?

There a range of different accommodation options to choose from in retirement villages across New Zealand. These can include: Villas : These are standalone homes that can range from one – three bedrooms or more and often have a private garden or outdoor area. Townhouses (or terraced houses) : A...

Retirement villages
What services and facilities do retirement villages offer?

Villages vary greatly – you’ll notice different-sized villages, from very few units to some with hundreds; different types of units within the same complex; newer villages and older villages. You will discover the community facilities can vary, with some villages offering a wide range such as a swimming pool, bowling...

Retirement villages
Will I have to pay if I move within a village?

Each move within a village incurs a cost. If moving between independent accommodation types (such as downsizing to a smaller unit), you will pay a ‘transfer fee.’ This is generally charged at a fixed percentage of the original license fee (which can range from 2 – 15%). You won’t have...