The government department has created a range of information booklets, a YouTube video and other materials to help people decide on what retirement village would be best for them.

The campaign and content were developed in conjunction with operator and resident consultation and if you go to the website here, you will find the comprehensive results with a lot of helpful information.

It is worthwhile viewing the video as well. The residents in the video highlight the loss of capital with the DMF but explain that it is a lifestyle decision.

Here are the Five steps they give to help you make the right choices:

1) Make a list of what you absolutely must have in a retirement village and another of features you want but do not need.
2) Seek expert advice; for example, take the retirement village contract to a lawyer and/or a financial advisor before you sign.
3) Talk to Seniors Information Victoria for free information about housing options, from independent living to residential care. Telephone 1300 135 090.
4) Shop around to make sure you are informed about your options.
5) Refuse to be hassled or hurried into a decision.