# How to Choose a Retirement Village — Consumer NZ

**Source URL:** https://www.consumer.org.nz/money/retirement/retirement-village-contracts-what-to-look-out-for
**Publisher/Organisation:** Consumer NZ
**Date accessed:** June 2026
**Publication date:** Regularly updated
**Folder/category:** 13 Consumer Guides
**Source type:** Web capture
**NZ-specific:** Yes
**Reliability rating:** High (independent consumer organisation)

## Why this source matters

Consumer NZ is New Zealand's leading independent consumer advocacy organisation. This guide provides practical, unbiased advice for older people and families considering retirement village living. It fills the critical gap of independent consumer education in the KB.

## Summary

Covers seven key areas: deciding if a village is right for you, pre-move checks, red flags in contracts, costs and fees, moving out, disputes and complaints, and the Code of Residents' Rights. Includes real resident experiences.

## Key facts

- Retirement villages are NOT like buying a house — you buy an ORA, not the property
- Independent legal advice is mandatory before signing
- 15 working day cooling-off period
- Red flags: unclear exit terms, ongoing fees after leaving, vague capital repayment timelines
- DMF (deferred management fee) of 20-30% is standard
- You may still owe weekly fees after leaving until unit is re-sold
- Operators can change terms unilaterally in some cases
- Consumer NZ is campaigning for fair repayment (see petition)

## Related consumer articles

- Top 10 fixes for retirement villages (April 2024)
- Retirement village changes a blow to current residents (December 2025)
- How to make a complaint about a retirement village

## Notes

Consumer NZ content is regularly updated. Check back for changes. Some detailed comparison content may require Consumer NZ membership.