Retirement Communities Frequently Asked Questions

A retirement community is a residential area or complex designed specifically for older adults, typically aged 55 and over, who are generally able to live independently but want to live among peers and have access to amenities or services that cater to their lifestyle and needs.

There are different types of retirement communities, including:

1. Independent Living Communities: These offer private residences (like apartments or houses) with shared amenities such as dining, housekeeping, and recreational activities. They are for seniors who don’t need daily assistance.


2. Assisted Living Communities: These provide more support, like help with bathing, dressing, or medication, while still promoting independence.

People often choose retirement communities for the convenience, social engagement, safety, and access to health-related support as they age.

Retirement living comes with a bunch of benefits that appeal to many older Australians looking for comfort, community, and peace of mind in their later years. Here's a breakdown of the key advantages:

Lifestyle & Community

• Social connection: Most retirement villages foster a strong sense of community, with regular events, social clubs, and shared spaces.


• Low-maintenance living: Homes are designed to be easy to maintain, and services like gardening or repairs are often included.


• Active lifestyle: Many villages offer pools, gyms, walking trails, and fitness classes to support a healthy, active lifestyle.

Comfort & Security

• Safe environment: Often have gated access, emergency call systems, and on-site staff add an extra layer of security.


• Age-friendly homes: Units are designed with mobility and accessibility in mind — no stairs, wider doorways, grab rails, etc.

Financial Simplicity

• Fixed fees: Many villages offer predictable costs for services and maintenance.


• No stamp duty: Often, moving into a retirement village doesn't require paying stamp duty (varies by state and contract type).


• Flexible ownership models: Options include leasehold, strata title, or license-to-occupy — allowing more tailored financial choices.

Futureproofing

• Access to care: Some villages offer in-home care services or are co-located with aged care facilities.


• Ageing in place: Many are designed so residents can stay as their needs change, without having to move again.

Location & Lifestyle

• Prime locations: Many villages are in coastal or scenic areas, perfect for a relaxed retirement.


• Travel-friendly: Lock-and-leave setup means you can travel without worrying about home security or upkeep.

There are costs associated with entering, living in and leaving a retirement community:

• Entry price: This is an up-front payment, also known as an ingoing contribution. It’s similar to, but usually less than, the purchase price of a similar residential property in the same area.


• Ongoing fees: These are weekly or monthly payments that contribute to the running costs of the community. Think of them as you would body corporate fees when purchasing an apartment or ongoing maintenance costs in your own home.


• The deferred (or exit) fee: This is the amount that is paid by the resident when they leave the community, and the property has been released to a new resident. This is usually a percentage of the entry or release price and will be agreed upon by you and Australian Unity before you move in. The actual amount you pay will depend on several variables, such as the community you choose to live in, how long you live there and any capital gain or loss on your home.

Make sure you discuss these fees with a legal or financial adviser so you can consider them against your own financial situation.

You do not pay stamp duty if:

• You're entering under a leasehold, license to occupy, or loan-lease arrangement (which is the most common model in retirement villages).


• These arrangements do not transfer legal ownership of the property to you — so no stamp duty is typically payable.

You do pay stamp duty if:

• You're purchasing a freehold property or strata title unit in the retirement village.


• In this case, it’s similar to the process of buying any other freehold property, and standard stamp duty rules may apply (rates vary by state/territory).

It’s important to seek professional advice from a qualified legal or financial adviser so you can consider the specific retirement home you are interested in, against your own financial situation.

Australian Unity operates a number of retirement communities across Australia, and our homes are generally sold under a "loan lease" model — rather than a traditional freehold property sale.

Australian Unity welcomes compliments, suggestions or complaints from residents, their representatives, relatives and visitors. Australian Unity is committed to ensuring that residents’ lives are as comfortable as they would wish. To enable us to meet that commitment we invite residents or their representatives to provide feedback at any time, either positively as a compliment, as a suggestion or in the form of a complaint.

Complaints Internal Dispute Handling Information Guide NSW RC (PDF - 444.0KB)