Moving into a retirement village is a big decision, and most people focus on one question: What will it cost me?
It's an important question - but it's not the only one.
A retirement village contract covers far more than fees. It sets out your rights, your obligations and what happens in some of life's biggest moments, like changing your mind, needing more support or leaving the village altogether. Understanding everything before you sign gives you the confidence to move forward, and the peace of mind that comes from knowing exactly what you've agreed to.
Our team will make sure you’re clear on everything, but if you want a head start before getting in touch with us, keep reading!
Here are five questions worth asking that go beyond the price tag.
1. What happens during the cooling-off period?
In NSW, you have the right to change your mind after signing a retirement village contract, within a set cooling-off period. If you haven't been given your disclosure statement at least 14 days before signing, that cooling-off period can extend further.
Ask your village: How long is my cooling-off period, and what happens if I need to use it? Our team always respects your right to walk away.
2. What must my disclosure statement include?
Before you sign anything, NSW law requires operators to give you a disclosure statement. This document sets out details like your ongoing charges, who's responsible for maintenance, any planned redevelopments and your rights under the Code of Conduct for Retirement Villages.
Don't just skim it. We’ll walk you through it, line by line, in plain English. We always welcome the conversation, instead of rushing you past it.
3. What happens if I need to move into aged care?
Life changes, and your needs might too. Ask what your contract says about transferring to higher-level care, whether that's within the same village or elsewhere.
What costs are involved?
How much notice is required?
Who makes that decision, and when?
This is one of the most important questions to ask early, while you have the clarity and time to think it through, rather than in the middle of a health crisis.
4. What happens to my contract, and my refund, when I leave?
Every village contract sets out how your exit is handled, whether you leave by choice, move into care or pass away. Ask: How is my refund calculated, how long will it take to receive it, and what happens if the unit takes time to resell?
Make sure these answers are written down, not just spoken about.
5. What are my rights as a resident once I've moved in?
A contract isn't just about moving in. It's about how you'll live once you're there. Ask about your rights to participate in a resident committee, how fee reviews are decided, and what say you have in decisions that affect your daily life.
You're not just signing a contract - you're joining a community. And you deserve a voice in it.
"People often come to us worried they'll miss something important in the contract. My job is to slow down, go through it page by page and make sure they leave with answers, not just paperwork."
- Village Manager, Wesley Retirement Living
What it comes down to
A retirement village contract is a legal document, but it doesn't have to feel daunting. Asking the right questions and getting clear answers is how you get peace of mind.
We always recommend seeking independent legal and financial advice before you sign any retirement village contract. Our team is always here to walk through the details with you, in plain language, for as long as it takes to feel confident in your decision.
If you'd like to understand the costs involved in more detail, read our guide to understanding retirement village costs and ownership, or get in touch with our retirement living team to book a tour and ask your questions in person.
