Retirement Villages vs Staying at Home: Pros and Cons
Where you live in retirement is one of the biggest lifestyle choices you’ll face. Many Australians wrestle with the decision between staying at home or moving into a retirement village.
Staying at Home
Pros: Familiar surroundings, no moving costs, independence.
Cons: Rising maintenance, risk of isolation, harder to adapt if health declines.
Retirement Villages
Pros: Community, security, facilities, lower maintenance.
Cons: Entry and exit fees can be complex, loss of some independence.*
Costs to Consider
Village contracts vary widely. Deferred Management Fees (DMFs) can take 20–30% of the resale value of your unit.**
Final Thought
The right option depends on your finances, health and personality. Compare costs carefully and think about the lifestyle you want.
References
- Property Council of Australia. Retirement Living Code of Conduct, 2024.
** CHOICE. Retirement Villages: Fees and Contracts Explained, 2024.
Disclaimer: This information is of a general nature only and does not constitute advice. It has been provided without taking account of your objectives, financial situation or needs. Because of this, we recommend you consider, with or without the assistance of a financial adviser, whether the information is appropriate in light of your particular needs and circumstances. Hendrie Financial Strategies is a corporate authorised representative of the Madison Financial Group Pty Ltd, Australian Financial Services License No 246679, ABN 36 002 459 001
