Your guide to retirement villages
A retirement village is a community of accommodation units where most residents are 55 years or older or are retired from full-time employment. Retirement villages enable people to live independently and maintain an active lifestyle without the maintenance of home ownership.
There are many terms used for retirement villages. These include retirement homes, independent living units, self-care units, over-55 homes or lifestyle villages. Most, if not all, have shared facilities that cater to over-55s such as community halls or libraries. They also provide community activities and services such as organised excursions, shared meals, sports and crafts.
If you’re considering this lifestyle change, our step-by-step guide and information below will help you make the transition.
- Find retirement villages in the location or area you prefer and determine which best meet your needs. See RFBI retirement villages in your area by clicking here.
- Arrange for a tour of the retirement villages you have short-listed and inspect to see how well they meet your needs.
- Obtain detailed information pack (including costs) and contract for the retirement village you select. Get legal and financial advice on the contracts and fees.
- Complete and submit your application.
- Review and sign your resident agreement, which outlines services, fees, rights and responsibilities, then move in.
Fees and charges
Retirement village fees fall into three basic areas:
Your entry fee (also known as an ingoing contribution): the agreed purchase price of your retirement unit.
Recurrent community charges: for council, waste removal and water rates, building insurance, lighting, repairs, maintenance, lawn mowing, community/common area gardening, security, external pest control and administration costs including staff salaries.
Deferred management fee (also known as an exit fee): due when you leave — deducted from the amount you would receive when your retirement unit passes to a new resident.
You will be responsible for the cost of meals and electricity, gas and telephone charges. Most retirement villages provide buses to take you to outings, shopping trips and other activities.
Frequently asked questions
Retirement living is ideal if you want to be free of home maintenance (including lawns and gardens) but are keen to preserve your freedom and independence. Residential aged care is for people no longer able to live at home for reasons including illness, disability, bereavement, medical emergency or being unable to manage at home without help. Home care is for when you are still independent and living at home but need a helping hand now and then.
We are fully aware of the increased risks associated with advancing age, especially falls. Reduced bone density and strength can cause seemingly minor incidents and RFBI is mindful of this. The combination of alarm support, care at home service provision available and living in a community with like minded social people all help to provide a support network to overcome challenging issues with growing older. We encourage our residents to be active and healthy and support them wherever possible.
In the interests of the community, only unobtrusive, essentially indoor pets like small caged birds and goldfish can be permitted. We recommend that you discuss this when applying.
Yes of course, but it is important to remember that your unit may be smaller than your previous home. You will obviously want to bring treasured family photos and mementos. As to other items, we recommend that you discuss the floor plan and space available when applying to assist you with planning.
Of course all visitors are welcome. Socialising is a vital part of a happy retirement lifestyle and you are welcome to entertain guests in your unit or the special entertainment areas provided.
Sometimes there can be waiting periods depending on the size and locality of your new home. RFBI will always do our best to accommodate you and see that your needs are met promptly and considerately.
Before midnight on the 7th business day after the date you gave us a signed copy of your contract you are able to rescind it by giving us a rescission notice. You waive the right to rescind if you move into your premises.
Yes, you may terminate your contract during the settling-in period by permanently vacating your premises. There may be some costs associated if there were alterations you requested to your premises.