Just like any property purchase, moving into a retirement village is a big financial commitment. Every village operates a little differently, and fees or conditions can vary from village to village and region to region. Getting specialist legal advice is one of the best ways to make sure you understand exactly what you're signing up for.
Here are some things to think about from a financial perspective:
- Entry costs: What is the initial cost of entering the village? Beyond the home itself, what else is included?
- Access to your money: Will buying into a village tie up all your money, or will you still be able to afford the things you enjoy?
- Ongoing fees: How much are the regular fees and what do they cover? Can you choose to only pay for the specific services you want?
- Fees change over time: Are the fees fixed for life, or will they increase? If increases happen, how often and by how much? Do you have a say in this?
- Insurance: What does the village insurance cover? What will you need to insure yourself? Who is responsible for paying any excess?
- Temporary changes: What happens to your fees if you go on holiday, are admitted to hospital, or the number of people living in your unit changes?
- Other personal costs: Consider additional expenses like power, phone, internet, and paid TV services.
- Moving within the village: People can move within a village several times, and each move will incur costs. Do you have a contingency fund set aside for this? Read more on moving within a village here.
- If money gets tight: What options are available if your financial situation changes or you run out of money?
Find more helpful articles about how to choose the best retirement village for you on our Knowledge Lab. Alternatively, download our checklist to help you on your search.
Updated: 21 Nov 2025