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.
Thinking about a retirement village
Do all retirement villages have care on site?
Not all New Zealand retirement villages offer aged care on site, so it pays to do your homework before making any decisions about where to move. Use the following questions to help guide your retirement village search: Care and support What types of services are available in the village? Podiatry,...
How do I choose the right village for me?
More than 45,000 people live in retirement villages throughout New Zealand and research suggest that most people enjoy a high level of satisfaction living in a village. Of course, it all comes down to choosing a village that is right for you. Make sure you visit a village more than...
Looking for a retirement village property? Consider this
Retirement villages in New Zealand offer a wide range of accommodation options, including villas, townhouses, apartments, and studios. Remember – this is your home, so whichever you choice it has to suit your lifestyle. Here are some questions to ask any potential retirement: Your dwelling Does the size/layout of the...
Should I choose retirement village that belongs to the RVA?
The Retirement Villages Association (RVA) is a voluntary association that represents retirement village operators, managers, and commercial organisations across New Zealand. Their aim is to provide a high standard of living for village residents. Choosing an RVA member retirement village means that you are protected under the Retirement Villages Act...
Thinking of retirement living? Here are the legal must-dos
‘Buying’ into a retirement village is not the same as purchasing a family home, for example. You need specialist legal advice, as there can be some legal ‘fishhooks’ to get your head around. The following questions are designed to assist in your decision-making process: Legal stuff Have you received and...
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Thinking of retirement living? Read these key financial tips
Just like any property purchase, purchasing into a village is a big financial commitment. Ensure you know the financial ins and outs of each retirement village, as they can vary from village to village and region to region, so ensure you get specialist legal advice. Here are some things to...
Thinking of retirement living? Start here
Villages in New Zealand vary greatly – in size, location, on-site offerings, ownership, philosophy and of course price – so it comes down to choosing the village that best suits your needs. Before you get your heart set on any particular village or unit, spend plenty of time studying your...
What are the pros and cons of living in a village?
Approximately 14% of the people aged 75 and older choose to live in a village – and that number is set to increase as our population continues to age. It is estimated that 26,000 retirement village units will need to be built by 2033 just to keep up with current...
What is a serviced apartment?
A serviced apartment, a common retirement village option, provides for the delivery of services to people who are paying privately for services. Commonly these people are reasonably independent. Services range from meals and cleaning services to, in some cases, high-end services such as a personal chef and chauffeur. High levels...
What is an ORA?
Buying into a village is different to purchasing a house. For the majority of villages, you do not ‘own’ it or the land it’s on (as you might own a house elsewhere). The sum you pay to 'buy' into the village is known as your Capital Contribution. An Occupation Right...
What is the best retirement village for my lifestyle?
When looking to a move to a retirement village, it’s important to consider how your new surroundings will suit your lifestyle. Here are a few questions to ask yourself when making your shortlist: Village life Is it easy for loved ones to visit? Can your friends/whānau (such as grandchildren) stay?...
What is the best village to choose?
With more than 400 Retirement Villages in New Zealand, there is plenty of choice when it comes to where to live. Villages vary greatly – in size, location, on-site offerings, ownership, philosophy and of course price – so it comes down to choosing the village that best suits your needs....
What to weigh-up if considering a retirement village?
Before you get your heart set on any particular village or unit, spend plenty of time asking around (including asking friends who have done their own homework or who have perhaps moved into a village) and studying your options. Examine all the legal and financial arrangements of each of the...
What's happening with the retirement villages review.
From the Te Ara Ahunga Ora Retirement Commission website: “In June 2021 Te Ara Ahunga Ora Retirement Commission released a report and recommendations following public consultation on a white paper* studying the effects of the complex legal framework governing the retirement village sector. They received nearly 3300 submissions. While most...