Retirement villages are run by for-profit and not-for-profit companies and vary greatly in what they offer residents, their cost and the conditions laid out in individual contracts.
A Retirement Village is defined by law as a place where:
- accommodation and services are provided, or are to be provided, for the care and benefit of retired persons, one or more of whom have made an entry payment; and
- which is not a residential care facility.
Consumer Affairs Victoria has information on things to know before you choose to move into a Retirement Village. See our page of issues in Retirement Villages
| Cost before you move in | Many retirement villages require an upfront payment. Some not-for-profit providers offer low or means tested upfront payments. In many cases, the upfront payment can be high. |
| Cost each fortnight | Residents pay ongoing fees, such as service fees or maintenance charges. |
| Eligibility | To live in a retirement village a person must be a ‘retired person’, which means they meet at least one of the following: – are 55 or older, or – have retired from full-time employment, or – are the spouse or domestic partner of a person who is 55 or older or who has retired. |
| Location | Consumer Affairs Victoria has a complete directory of all Victorian Retirement Villages searchable by postcode |
| Changes you can make to your house | You can make changes to your home. |
| How long you can stay there | Retirement villages are usually long-term accommodation. |
| How to apply | villages.com.au maintains a directory of many Retirement Villages across Australia that can be searched by ingoing cost, though there are not a lot of low-cost listings. |
All information contained on these pages is general in nature, and should not be considered advice. Information will be subject to change. Please contact us to discuss your individual circumstances.