Steps to buying a unit in a retirement village
Get legal advice
You should get legal advice before buying into a retirement village. Additionally, it is strongly recommended you get advice from a solicitor with expertise in retirement villages before you sign anything.
The solicitor will help you understand your financial and legal obligations and whether the residence contract is fair.
Consider appointing a solicitor who has expertise both in retirement village law and, if needed, general property conveyancing to assist with the sale of your home.
Caxton Legal Centre provides information on the Queensland Retirement Village and Park Advice Service (QRVPAS). QRVPAS is a free legal service that can help you:
- understand your rights and responsibilities
- have increased access to appropriate legal information and advice.
Caxton Legal Centre also provides a self-help kit (PDF, 783 KB) that contains an overview of some key issues that you should consider before buying into a retirement village.
Complex contractual arrangements
Retirement village legal and financial arrangements can vary from village to village. These arrangements can be complicated so we strongly recommended you seek legal advice from an expert with experience in retirement village contracts before you sign any residence agreement or contract.
In this guide:
- Know the risks of retirement units as investments
- Shop around
- Compare different villages
- Get legal advice
- Find out the costs
- Previous ( https://www.qld.gov.au/housing/buying-owning-home/housing-options-in-retirement/retirement-villages/buying-a-unit-in-a-retirement-village/steps-to-buying-a-unit/compare-different-villages )
- Next ( https://www.qld.gov.au/housing/buying-owning-home/housing-options-in-retirement/retirement-villages/buying-a-unit-in-a-retirement-village/steps-to-buying-a-unit/find-out-the-costs )