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Retirement village calculator

03-Oct-2017
Written by Ashley Blake
Moving into a retirement village is not only a lifestyle choice, but an important financial consideration.

We came across this very handy Retirement Village Calculator which the NSW Fair Trading has developed. It's an easy-to-use online tool, to help potential residents work out the estimated costs of retirement village living.

There are two calculators that can be used depending on the resident's situation. Each calculator provides a cost estimate of the entry fees, ongoing fees, and exit fees. Understanding these fees can help residents work out if a particular village is right for them and their budget.

The basic calculator gives a general overview for those in the early stages of considering moving to a retirement village. The detailed calculator provides a more tailored result, and is designed to be used with the new Standard fees and charges table. From the 1 September 2017, the table forms part of the disclosure statement provided to prospective residents when they show an interest in a retirement village unit.

To learn more and to use the calculator visit the Retirement Village Calculator website.

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