24 June 2016 3 min read

With any financial related decision it’s important to understand the costs and structure of any agreement you are entering into. Hear how residents, David and Cynthia Burns, weighed up their options and made the decision to move into a village.

Working out the costs

David and Cynthia Burns talk about one of their priorities – the costs

Having visited several villages and found an abundance of information to suit their retirement needs, David and Cynthia decided to settle at Highlands Retirement Village in Victoria.

“We began by comparing our current living costs with our likely retirement village fees,” Dave says, “including the cost of a villa, the ongoing levy, insurances, utilities such as electricity and phone, council rates and other day-to-day expenses.

“Stockland’s team at Highlands Retirement Village in Craigieburn were very helpful. They emphasised the different costs we could expect, and urged us to talk it over with our family and with financial advisers so we could be sure of all the details."

“Stockland was keen to ensure that our family fully understood the exit costs that are charged when we eventually leave the village because our family are likely to be the people who make those arrangements,” he goes on to say.

“We followed that advice and also spoke to friends who already lived at Highlands,” says Dave. “We were able to learn from their experiences, which made us feel more comfortable.”