Vital questions to ask before investing in retirement villages.

 The ideal way to experience the retirement community firsthand is to take a tour and discover firsthand what life in the Retirement Villages Frankston Area is really like. Most importantly, it allows you to satiate all your queries and see if you would like to spend your remaining life there.

But sometimes, we need help with what questions actually to ask. Here we have curated a list of questions you should ask to make an informed decision about your living facilities in this new phase of life.

Are pets Allowed?

Let’s start with something easy but important. Surely you would not want to leave your furry friend behind on this new journey?

Mostly, it is allowed in the majority of retirement villages Frankston Area-wide, but it never hurts to confirm and be sure about any restriction on the type and number of pets.

How are entry fees justified?

It is vital to understand the financial side of moving into a retirement village, and the first step towards that is knowing the value of your entry costs.

It is the upfront price you pay for a long-term lease and mostly depends on the style, size, and location of the chosen property.

Also, ensure the cooling off period or any change of mind assurances for your security. Knowing firsthand means you don’t deal with any surprises after moving in.

Are there any extra expenses while staying in the village?

Monthly charges, also known as maintenance or general service charges, usually cover all the required facilities. Still, it is better to know all the extra costs you may need to consider in your budget.

So, ask questions like:

• What are the service charges?
  
  
• Are they monthly or fortnightly?
  
  
• What do and don’t they cover?

What are the care services available?

After retirement, you may require extra care services to continue living independently. So, always ask questions like:

• Whether and what in-home care services are included?
  
  
• Is there an emergency call system?
  
  
• Who is the service provider?
  
  
• And if I require any additional support, how can I achieve it?

What are my ownership rights?

Buying into a retirement village is a huge investment, so you must enquire about your ownership rights.

The villages mostly offer two types of ownership:

• Leasehold – it means the land and property are of the landowner, and you have permission to use it for a long term (approx. 99 years).
  
  
• Strata Title - it means you own the home and share common ownership of facilities with fellow residents.

What is the security like?

Another important question is regarding the security measures available in the village. Be sure to ask questions like:

• Is it a gated village?
  
  
• Are there any security alarms or cameras?
  
  
• Is there an emergency contact system?

Investing in retirement villages Frankston Area-wide is not easy, and you must be fully convinced before taking this step. For peace of mind, you must get all your queries sorted before making any financial commitment.