Retiring

I’m interested in investing in commercial property. What ... I’m interested in investing in commercial property. What are some of the benefits? 
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How much will it cost me to live in a retirement village or a retirement home?

There are many different grades of retirement villages and retirement homes.  The higher the quality of the retirement home, the more you'll generally need to pay. 

Retirement homes can be purchased outright (but note that the land the home is on is often leasehold), or in some cases can be rented.  Before you commit to any financial obligation, seek the advice of a solicitor, lawyer or financial advisor and make sure you completely understand the costs of entry, residency and exit.
  • There is usually a fee charged to move into the property, along with recurring service charges each week you live there.  Some retirement villages also request a departure fee when you leave the village
  • Where they exist, departure fee structures can vary a lot.  Make sure that the fee structure you are considering is properly explained
  • When evaluating a retirement village or retirement home, ask the sales representative for a comprehensive rundown of their fees and charges.  Have this information reviewed professionally and by a family member
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