The inside info you need before you move to a retirement village

Moving to a retirement village is a significant life decision that requires careful consideration of several factors, including location, cost and the lifestyle you want, as well as security.

"For many seniors," says Gerhard Kotzé, MD of the RealNet estate agency group, "a move to a retirement village or estate seems like a natural progression once they become empty nesters. It holds out the promise of more security, less home maintenance and more time to travel or take part in other activities that interest them.

"However, this can involve substantial upheaval and expense, so they need to be very sure they are moving to a retirement village and community that suits them, and which offers all the amenities they need now and might need in future."

A crucial consideration, he says, is the location of a retirement village in terms of proximity to family, friends and healthcare facilities, as well as shops, sports facilities, places of interest and an airport if you like to travel. The geography and climate of the area is also relevant because too much heat, cold or rain can have a really negative effect on your lifestyle.

"In addition, retirement villages can vary significantly in terms of the costs associated with home ownership, such as monthly levies and additional maintenance, housekeeping or gardening fees, and it is very important to find out about all of these ahead of time and consider the effect on your budget, especially if they are likely to increase over time.

"At the same time, it is essential to establish that the retirement village itself is financially sound. Make sure you review and understand all legal and financial documents associated with the retirement village, and seek professional help from your attorney or accountant if necessary. The governing documents and financial statements are especially important."

Kotzé says another vital factor to consider is what housing options such as apartments, townhouses or stand-alone cottages are available in the retirement village, and whether it offers different levels of healthcare.

"Some villages offer a range of care options, such as independent living, assisted living, and memory or frail care, while others may only provide independent living. You need to know this ahead of time, and what access you will have to medical facilities and any other health support services you may need."

Next, he says, you should take some time to find out if the retirement village offers the type of community and the lifestyle you envisage. "It is always a good idea to talk to current residents, if possible, to get a sense of the community's culture and social opportunities.

"You also need to find out about the social, recreational, cultural and fitness activities and amenities on offer to see if they align with your interests and preferences. In this regard you also need to understand the rules and regulations of the retirement village, including any restrictions on visitors, pets and home improvements."

Then finally, says Kotzé, you should think about what will happen if you decide to resell your home in future, or if you will be able to leave it to your heirs. "Retirement villages can vary a lot in terms of the resale value of the units, and also in the different purchase options such as freehold, sectional title or life rights.

"Understanding these options and evaluating all the advantages and disadvantages before you buy will help you make a decision that is right for you."