Moving into a retirement village is a major life changing event, and you may have questions about what it is like to live there, how much it costs, and how it differs from selling a house privately. These are essential pieces of information you should have before making the decision.

An increasing number of seniors are choosing retirement villages for the social support, security, and financial independence it may provide, as well as the chance to finally pursue the things they’ve always wanted to do in life.

For the last decade, we’ve helped retirees and semi-retirees in Sydney find the ideal home in Marston’s picturesque retirement villages. Below are answers to the most often asked questions that potential residents have as they begin to make plans for moving into retirement village.

1.The cost of living in a retirement village vary based on the resident’s specific needs

Moving into a home in a retirement village can be a complicated financial decision.

Stamp duty

You do not need to pay stamp duty when downsizing and moving into Marston living retirement village.

Entry fee

This is the amount you pay when you move into a retirement village. It is also called a purchase price, a lease premium, or an in-going contribution.

Exit fee

Departure charge, sometimes also called a Deferred Management Fee (DMF).

This fee is payable when you depart from the retirement village.

2.The rules of the village is essential to everyone’s well-being (plus you get a say in what they are)

To preserve the tranquil, pleasant, and stress-free atmosphere that draws retirees to their villages, retirement villages typically include a set of village rules that apply to both residents and administration.

Every neighbourhood has its own set of guidelines that residents must follow, so it’s vital to learn about them and consider how they can affect your daily life before making a final decision on a new home.

The rules will evolve over time, but they will never be made without the input of the community it governs.

3. Benefits offered by retirement village

Many potential retirees wonder what sets retirement villages apart from other neighbourhoods and why they are typically preferred to buying a home on the open market.

Less expensive

Typically, retirement village purchases are less expensive than comparable private sales on the local house market.

According to property reports, the median house price in a retirement village is a lot lower than the typical house price in the same area. Depending on the retirement village’s management, potential residents can expect their home’s purchase price to be around 80% of a comparable property on the local housing market.

Participating in and contributing to the neighbourhood

When people move into our villages, they often experience a strong feeling of village since they are surrounded by others who are at a similar life stage and have similar values.

There are plenty of opportunities to meet new people in the village thanks to the many events and gatherings that take place here.

Vacation style facilities

Retirees tell us all the time that life in the village is like living at a “holiday resort” all the time. Swimming pools, fitness centres, gardens fit for a book read, movie theatre and gymnasium, and walking trails are all available to the residents at the retirement village.

Live free from the burden of house maintenance

It might be a huge relief to know that your village service provider will keep up with routine maintenance while you’re gone. Many of our residents appreciate not having to worry about a mountain of chores waiting for them such as lawn mowing, gutter cleaning or swimming pool maintenance.

To learn more about the lifestyle and activities at Marston Living Retirement Villages, give us a call on (02)91888555, or send us an inquiry on [email protected].