Retirement homes in New Zealand: What you need to know

• How much does it cost to live in a retirement home? 
• What’s the alternative to a retirement village?
• What age can you go into a retirement home?
• What are the downsides of living in a retirement village?
• Tips for planning your next move

The cost of a retirement home or village unit varies depending on location, facilities, and the operator, but it’s typically between $300,000 and $1,000,000 for the right to occupy an independent unit or apartment.

That ‘right to occupy’ part is key here. Most retirement villages in New Zealand use a licence to occupy (LTO) model. That means you don’t actually own the home; instead, you pay for the right to live there and access village facilities. When you leave, you (or your estate) usually get a refund minus a Deferred Management Fee (DMF), which is often around 20–30% of the purchase price.

On top of that, you’ll pay a weekly fee (typically $150–$200) covering maintenance, security, and shared amenities.

To give you an idea of current market prices, we looked at listings from two of New Zealand’s largest retirement village operators (Ryman Healthcare and Summerset) across Auckland, Wellington, and Christchurch.

Note: these details are from publicly available listings from each provider’s website or retirementvillages.co.nz. Prices reflect properties currently for sale as of November 2025. Neither operator is a partner or paid collaborator of Trade Me.

Edmund Hillary Retirement Village (Ryman Healthcare)

Remuera Auckland

• 1 bedroom apartments: $670,000
• 2 bedroom townhouse: $1,275,000

Possum Bourne Retirement Village (Ryman Healthcare)

Pukekohe, Auckland

• 1 bedroom assisted living: $585,000
• 2 bedroom townhouse: $885,000

Summerset - Milldale 

Milldale, Auckland

• 2 or 3 bed villas: from $975,000

Summerset at Heritage Park 

Ellerslie, Auckland

• 2 bedroom villa: From $1,349,000
• 2 bedroom apartment: From $749,000

Malvina Major (Ryman Healthcare)

Khandallah, Wellington

• 2 bedroom apartment: $945,000

Bob Scott Retirement Village (Ryman Healthcare)

Petone, Wellington

• 1 bedroom assisted living: $648,000

Summerset Boulcott

Lower Hutt, Wellington

• 2 bedroom independent apartment: from $751,000
• 1 bedroom serviced apartment: from $620,000

Summerset Waikanae

Waikanae, Wellington

• 1 bedroom serviced apartment: $435,000
• 2 bedroom villa: $995,000

Northwood Retirement Village (Ryman Healthcare)

Northwood, Christchurch

• 2 bedroom townhouse: $695,000

Kevin Hickman Retirement Village

Riccarton, Christchurch

• 1 bedroom assisted living: $475,000

Summerset Prebbleton

Prebbleton, Christchurch

• 2 bedroom villa: From $710,000

Summerset Rangiora

Rangiora, Canterbury

• 2 bedroom villa: From $660,000

These prices give a broad snapshot but know that location, views, and village amenities can all make a big difference. Units in premium areas like Auckland’s central suburbs typically command the highest prices.

If a retirement village isn’t your style, there are plenty of other options:

• Staying in your own home: Many older Kiwi prefer to “age in place”, staying in their current home with support as needed (for example home care, help with maintenance).
• Downsizing: Selling the large family home and buying a smaller, low-maintenance property (apartment or townhouse) gives greater flexibility and frees up equity while avoiding village contractual commitments.
• Rest homes and care facilities: For those needing higher levels of care (rather than independent living) options include rest home, hospital-level or dementia care facilities. These are more medically-oriented rather than lifestyle villages.
• Supported living or retirement apartments: Some developments offer “independent living” units with optional services, without the full village contract.

Choosing where and how to live in retirement is all about matching your health, lifestyle, financial situation and preferences to the right living option.

Most retirement homes in New Zealand have a minimum entry age of 55, although some will only accept residents aged 65 and over, according to agedadvisor.nz.

In practice, many people consider moving into a village once home maintenance becomes more challenging, or they want more community, security or support.

It’s less about a fixed age and more about readiness: health status, mobility, social needs, maintenance burden, and whether the village lifestyle suits you.

While retirement villages can offer comfort, convenience, and community, they’re not perfect for everyone. Some potential downsides include:

• You don’t own your home outright: under an LTO, you have occupancy rights, not ownership.
• Limited capital gain: most contracts mean the village operator, not the resident, benefits from any rise in property value.
• Exit fees: Deferred Management Fees can significantly reduce the refund you (or your family) receive when you leave.
• Rules and restrictions: some villages have limits on pets, visitors, or renovations.

On the flip side, many residents say the lifestyle, community, and support make up for those limitations. 

It’s important to get independent legal advice before signing any agreement and to visit several villages to find one that feels right.