Finance

Retirement Living: BYO lifestyle

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Many over 55s express a preference for staying in their own home as they age, progressively outsourcing support services as they’re needed.

Retirement village living offers exactly that – your own home and independent living – with support available, as you need it.

Here are some of the key features and benefits of living in a retirement village:

  • Affordable living: the latest PwC/Property Council Retirement Census indicated that the average cost of a retirement village villa, home or unit is just over two thirds of the median cost of housing within the same locality.
  • No more costly, physically demanding property maintenance: shared grounds and communal facilities, means that exterior property maintenance is no longer a necessary chore consuming your spare time.
  • Unlock funds to enjoy later years: because the cost of buying in to a retirement village is less than buying a comparable property in the same locality, selling the family home can free up capital to enjoy hobbies, sports, holidays or an overall better standard of living.
  • Communality and security: there is no risk of feeling socially isolated, unless of course, it is your preference. Retirement villages are designed to support social interaction, and provide physical support as mobility changes with ageing. Security is a key feature of retirement village planning. Living amongst seniors sharing similar demographics adds to a feeling of neighbourhood security.
  • Live independently for longer: retirement village housing is designed to adapt to ageing needs. Features such as wide doorways, no steps and bathrooms designed for easy cleaning make life easier, if mobility declines due to health issues.
  • Resort style living: many of us could never afford our own indoor swimming pool, gymnasium and bowling green – and then the upkeep! A retirement village lifestyle offers well maintained, communal facilities to promote physical, mental and social health and wellbeing.
  • Granting freedom to loved ones: while ageing in the family home is an option, over time, this mostly requires dependency on adult children and other loved ones to support your choice as your mobility changes. Making a choice to move in to a retirement village, reassures loved ones that you have company and activities if you wish. They will also feel confident knowing you are safe, secure and that the time you choose to spend together will be quality time, not out of obligation.

While careful developer planning for optimum communal retirement living means that the exterior design of a retirement village house, unit, villa or apartment may look similar to your neighbours, that is where the similarity ends. You can tailor your life exactly how you like it.  When you choose to move into a retirement village, you bring your own (BYO) lifestyle.

BYO interior style

Once you step into the front door of your retirement village home, the way you furnish the interior is entirely up to you. Fixtures and fittings in a good quality retirement village will be tasteful and neutral, allowing you to introduce your own style through your furnishing. Depending on the village you choose to make your home, you may be pleasantly surprised at how much space modern retirement villas offer, to accommodate favourite pieces of furniture.

BYO guests

The 2015 PwC/Property Council Retirement Census revealed that most retirement village housing across Australia, is 2 to 3 bedroom. Having guests visit or stay with you for short term stays, is a reality of contemporary retirement villages. Gone are the days of holding on to a high maintenance family sized home just to accommodate an occasional guest. Retirement villages are often designed with communal outdoor entertainment spaces to encourage social activity.

retirement living

BYO HACC package

Home and Community Care packages (HACC) are transferrable to wherever you choose to live. A good quality retirement village may also offer a full time on-site nurse. 24 hour by 7 day emergency services are always available and give residents and their loved ones, peace of mind that help is always close at hand.

BYO meals

Many of us love indulging our culinary skills in our homes. Retirement village developers mostly locate villages in close proximity to major retailers and grocers, with many also offering a village bus. Cooking up a storm and entertaining guests in your home is an activity you can indulge in as much as time and budget allows. Increasingly, outsourced meals and catering options are becoming available in retirement villages. As Australia’s ageing population grows, so too do the services available to help out in times of need. Meal services, catering packages and takeaway deliveries are welcomed at retirement villages.

BYO shopping

Well-designed retirement villas will provide ample storage for seniors. With grocery stores and retailers either located close by, or with village transport services available, convenient living is an attractive feature and one of the key benefits of well-thought out retirement villages. Online shopping can be an added convenience at times where health or mobility limit outings.

BYO social activities, or enjoy the village’s

Living alongside other singles and couples at a similar stage of life supported by resort style facilities and activities, means there are plenty of opportunities for social interaction – both organised and spontaneous. If located conveniently, you can also explore the area for senior social activities outside of village life.

Choosing to live a retirement village lifestyle, is choosing to live at home.

It is an empowering choice that gives you and your loved ones, peace of mind that your future is one of living independently, with security, community and support available as you need it. This is your time, to make the most of the senior years you’ve worked hard to enjoy.

Resources

Headline findings of 2015 PwC/Property Council Retirement Census

This article was sourced from retirement-communities.com.au.

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