Choosing a Retirement Home – Questions You Must Ask

Choosing a Retirement Home

The much-loved family home can become a millstone for those approaching retirement age. Buying into a retirement complex is a popular option.

Tailored or purpose-built accommodation for over 65’s having become a popular consideration for many.

However, it is important to know exactly what you are buying and what restrictions exist within a residential village’s guidelines. It is vital to ask the right questions.

“Need to ask” questions include:

  • What facilities and services do I need now and in the future?
  • What level of support is offered to residents and how much does it cost?
  • What rules are there?
  • Do I need a bond or deposit?
  • What are the ongoing costs and how are they calculated?
  • Do I pay regular fees or are they deferred until I sell the unit?
  • Do residents have any control over fees?
  • Who manages the village?
  • What processes are in place to settle any disputes between residents and management?
  • What happens to me if the village is sold or goes into receivership?

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