Don't Buy Your Retirement Home Without Me!

"My parents moved into a retirement village and I had to do all the research on it from scratch. I wish this book had been available then! It is an invaluable guide to a very complex but very important area." - Alan Kohler, Eureka Report This is the book that retirement community sales agents DON'T want you to see! Living in a retirement community is a great lifestyle choice for retirees, providing an instant social network and low-maintenance homes specially built for comfort and security. Unfortunately, buying retirement community home can be difficult and confusing, as many hidden traps and costs await the unwary buyer. This book will guide you through this complex process. Full of independent jargon-free advice for downsizing retirees, Don't Buy Your Retirement Home Without Me! Will help you: understand the process of purchasing a home in a retirement community explore your options and investigate community locations analyse the purchase arrangements and weigh up the financial pros and cons detect any hidden fees and unexpected charges negotiate your contract so that it delivers you the best possible result adjust to your new lifestyle and plan for a healthy retirement. Don't Buy Your Retirement Home Without Me! Is your essential guide to buying your ideal home in a retirement community and living the life of your dreams.

Richard Andrews is Australia's leading expert on retirement communities and the founder of Find My Retirement Home (www.findmyretirementhome.com.au), a company that acts as an independent adviser and buyer's agent for retirees wanting to purchase a retirement home.

About the author ix

Introduction xi

Part I: The retirement living industry 1

1 The evolution of retirement living in Australia 3

2 What is a retirement village — in legislation and practice? 11

Part II: Assessing your options 21

3 Working out what you want 23

4 Choosing a location 31

5 Affordability 39

Part III: Doing your research 45

6 Retirement home research 47

7 Types of retirement accommodation 57

8 Retirement village operators 61

9 Retirement home purchase arrangements 67

10 Investing in the retirement living sector 77

Part IV: Analysing your research 83

11 Fees and charges 85

12 Analysis and evaluation 99

13 Capital growth 119

14 Buying off the plan 129

Part V: The purchase 135

15 Selling your home 137

16 Contract time! 145

17 Negotiating tips and key contract terms 153

Part VI: Living and leaving 169

18 The big move! 171

19 Assimilating into village life 177

20 Links and resources 195

21 The final word 209

Appendix A: Preference questionnaire 211

Appendix B: Individual village questionnaire 217

Appendix C: Research comparison worksheet 221

Appendix D: Moving house checklist 229

Appendix E: Change of address checklist 233

Glossary 235

Index 241

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Don't Buy Your Retirement Home Without Me! Avoid the Traps and Get the Best Deal When Buying a Home in a Retirement Community

Summary

Author Biography

Table of Contents

Supplemental Materials