Choosing a Retirement Village that is right for you
If you are approaching retirement or moving through your retirement years, you may be considering moving into a retirement village.
Retirees say there are many benefits that come from living in a retirement village including being part of a supportive community environment, building new friendships with like-minded people, and having amenities and services at your fingertips that enhance your health and quality of life.
Your retirement years offer a golden opportunity to embrace a lifestyle that places well-being, joy, purpose, and connection at the heart of everything you do. If you are considering whether a retirement village lifestyle might be right for you, it’s important to choose a village that aligns with your values, purpose, and aspirations.
Here are some factors you should consider when you are choosing a village:
Location
The location of the retirement village is really important. Consider the proximity of your family and friends, healthcare facilities, transport links, shopping centres, supermarkets, and recreational activities. A good location will ensure ease of travel, and will help you to remain connected with your social circle outside of the village.
Accommodation
Different villages offer different levels of care and support. Retirees who are living full and independent lives may choose to live in a spacious villa or modern apartment and enjoy the same level of privacy and independence they enjoyed in their own home.
Some villages offer the full spectrum of aged care living including high level care facilities with around-the-clock rest home or hospital level care, and specialist memory facilities to support retirees living with dementia or Alzheimer’s disease.
You may not need this level of care now, but it’s important to consider if a village can accommodate your changing health and mobility needs, and provide transitional support if you move from independent living to higher level care.
Amenities and Social Life
The social and recreational environment of a village influences your health and well-being so it’s important to choose a village with a strong community spirit and amenities that resonate with your interests and values.
These may include interest groups, gardening clubs, social groups, fitness classes, gym and pool facilities, crafting, and hobby groups, and residents who share common interests like dance, walking, vintage cars, wine, drama, cycling, bowls, or golf.
Consider the social hub of the village and if it can accommodate you and your visiting friends and family. Is there a licensed restaurant on site, and are there discounts or benefits for residents? These are all factors you should consider before choosing the right village for you.
Legal, Financial, and Contractual Responsibilities
Before making a decision, it’s important to understand the legal, financial, and contractual obligations of buying a home in a retirement village under an Occupation Right Agreement (ORA).
A village’s sales team and your legal advisor can provide you with a thorough overview of this. You should also factor in moving in costs, the weekly village fee which covers a number of costs including village maintenance, window-cleaning, gardening, staff salaries, rates, insurance, and water. There will also be a moving out fee which can differ between villages.
Choosing a retirement village is a big decision and one that requires careful consideration. Sometimes it may feel overwhelming, but by following a step-by-step guide, it can become a fun and enlightening process. Take the time to visit multiple villages, ask questions, seek advice from professionals and find the best fit for your lifestyle and needs.
Everyone wants something different from their retirement years, but with a bit of time and research, you can find your place of belonging and live your best life in your golden years.