Living in a Retirement Village: Choice, Contracts, and Constraints

ABSTRACT

Retirement village living is a growing housing option for older people. Research to date has focused primarily on the social milieu of the village with limited attention to the legal and financial obligations associated with this form of specialized seniors' housing. Using data from a survey of 312 Australian residents, this article suggests while residents place financial and legal obligations at the forefront when considering relocation and during residency, there is variability in professional advice and constraints on choices when needs and capacities change. The distinctive obligations associated with retirement village living require greater attention to ensure an informed lifestyle decision.

KEYWORDS:

• Australia
• contracts
• finances
• retirement villages

Acknowledgments

The authors would like to thank the project's Critical Reference Group for their assistance throughout this project.

Funding

This work was supported by the University of Queensland under grant number 2012002042.