Considerations when moving into a retirement village

Retirement Village living in Australia: Key Considerations

Living in a retirement village in Australia offers a range of benefits, and these appealing factors have driven significant growth in the industry—particularly in the Geelong and Surf Coast region. We’re often asked whether moving into a retirement village is a wise financial decision. Rather than framing it as a simple “good vs bad”, we prefer to highlight the key considerations when weighing up such a move.  We typically encourage clients to reflect on their financial situation and personal preferences because what is perceived as value for one person might not be for another.

Here’s a summary of the main factors to consider:

Sense of Community

Feedback from our clients suggest that retirement villages foster strong social engagement and a sense of community. Many offer activities such as fitness classes, game nights, and group outings, which can help reduce isolation. While it’s certainly possible to find community elsewhere, retirement villages make it easier to connect with others.

That said, shared facilities and close proximity to neighbours may not suit everyone. Some may find the lack of diversity and privacy somewhat constraining.

Maintenance

Homes in retirement villages are generally smaller and easier to maintain. Communal areas and gardens are managed by staff, which can free up time and reduce physical strain. However, most villages have strict styling guidelines, which may limit what you can do with your home and its surroundings.

Safety and Security

Many villages are gated and equipped with emergency systems, security personnel, and on-site medical staff—offering peace of mind for residents and their families. This is undoubtedly a major drawcard. Still, while many appreciate the sense of safety in having smaller, tightly bunched homes, others may miss the space and freedom of their previous residence.

Access to Amenities

Facilities often include gyms, libraries, swimming pools, and dining areas—all designed to support an active and social lifestyle. Having these amenities nearby and without additional membership fees may encourage more frequent use.

Costs

As with most things in life, there’s no such thing as a free lunch. Costs can vary widely. Initial investments, deferred management fees (often 20–30% of the original amount paid), and ongoing fees can be substantial.

For some, the price is well worth it; for others, these costs may be prohibitive. It’s important to remember that you’re paying for convenience, amenities, and—perhaps most importantly—the intangible sense of community and security. Ultimately, the value is yours to judge.

Legalities

Legal agreements can be complex and may include unexpected clauses or fees. It’s essential to seek legal advice before signing. Fortunately, the Geelong region has several lawyers who specialise in reviewing retirement village contracts.

At Muirfield, we can assist in navigating a potential move into a retirement village by helping you weigh up the financial cost versus the emotional benefits. We always welcome the conversation.