Retirement villages

You have the right to leave a retirement village whenever you choose but you need to be aware that there are costs associated when you do. Learn more about the costs of exiting a village. Remember: even after you sign an ORA, you have a ’15-day ‘cooling off’ period during...

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?...

The major cost of leaving a village is the Deferred Management Fee (DMF) that is deducted from the original capital sum you paid when ‘purchasing’ into the village. It is to cover the cost of the management and refurbishment of the village (roading, footpaths, lighting, communal amenities etc). The industry...

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...

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...

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...

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...

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...

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...

A care suite 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. They may also be...

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,...

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...

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...

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 –...

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 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...

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...

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...

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,...

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 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,...

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...

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...

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...

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...

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),...

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...

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...

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...

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...

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...

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...

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,...

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...

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...

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...

‘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...

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...

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...

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...

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...

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...

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?...

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....

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...

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...