HealthInfo West Coast-Te Tai Poutini
Retirement and lifestyle villages
Ngā kāinga pēperekōu me te manaakitanga
Considering what type of retirement accommodation is right for you or your relatives can be overwhelming and stressful. One of the most important things to remember is to take your time and consider the options carefully. It's a good idea to discuss with your whānau (family), friends and a trusted legal advisor.
Retirement and lifestyle villages are developments that are purpose‑built to cater for people over the age of 55. They're usually developed by a private company rather than public providers.
Some of the reasons why people move to a retirement or lifestyle village include:
- wanting to meet new people
- a need to downside the family home
- wanting an increased feeling of security
- participation in a community lifestyle.
Choosing a retirement village
There are important things to consider when choosing a retirement village.
Things you may wish to consider include:
- Location. Is it close to things that are important to you such as your whānau, friends, library, shops and general practice?
- Size. This can vary from a few units to hundreds of units.
- Facilities. Some may offer a wide range of facilities such as a swimming pool, spa and bowling green. Others may be more basic, with limited facilities.
- Cost. Is it going to financially possible?
Having a look around the village is a good way to help you decide if it's right for you. Meeting other residents as well as the village owner and manager is important. In some villages, staff have an active role in activities, while at others they have less. Find out if there are regular social events or meetings and ask if you can come along and see if the village community feels right for you. It's a good idea to visit more than once before you make a decision.
It's important to check that the village is registered, as registration gives you additional protection under the Retirement Villages Act (2003).
The Eldernet retirement village checklist will help you make the best decision.
Buying into a retirement village
Buying into a retirement village is different from buying a house. It can be complex, and villages vary in their accommodation, support, management, legal and financial structures.
The Commission for Financial Capability have written a guide for people thinking of living in a retirement village that covers important information for new residents, their whānau and existing residents of retirement villages.
Financial considerations
Consider your budget when you move into the village. All villages have costs and fees associated with them.
Here are some questions to consider:
- What do the fees cover and how often are they charged? You may need to pay for power, telephone or other expenses.
- Is insurance included? You'll most likely need to pay your own contents insurance.
- If fees increase over time, can you continue to afford them?
- Will you have to pay fees if you're away, such as on holiday or in hospital?
You may still be eligible for government financial assistance (benefits) if you live in a village. Check with WINZ to see if you're eligible.
Costs associated with leaving a village
You should know about any costs that can occur if you leave the village or transfer within the village. It's also worth remembering that if you enter a village but change your mind, you may need to purchase again. It's a good idea to talk to a trusted advisor about your options.
HealthInfo recommends the following pages
- Eldernet – Retirement villages
Eldernet offer advice, support and live listings for available retirement villages to buy or rent.
- The Commission for Financial Capability – Thinking of living in a retirement village?
Important information, case studies and tips about legal rights and responsibilities.
- The Retirement Villages Association of New Zealand – Information for residents
Includes a quick summary of the rights given to you under the Retirement Villages Act (2003).
Written by HealthInfo clinical advisers. Last reviewed March 2023.
SourcesReview key: HIRRV-48277
