If you are in Australia, you must have heard about retirement villages. As one can guess from the name, retirement villages are designed to meet the lifestyle of retired people over the age of 65. There are varied kinds of stay options, but most frequently, seniors have the choice of independent living units, where they get assistance for health, home maintenance and other aspects. Below are some of the aspects worth knowing about retirement villages and independent living communities.
What to expect?
Most of the retirement villages and independent living communities are designed to offer the perfect ambience for seniors, where they can have a life of their own and can get additional assistance as and when needed. Typically, the services are offered directly or through contracts with third-party services. Medical assistance on call is one of the foremost things that seniors get, besides additional help for home and garden maintenance. Additional recreational facilities and social activities are also offered. Usually, the residents like to opt for an option that also includes an ‘aged care facility’, so that they can get further help when they need to be dependent.
Funding the move
The whole process of moving to a retirement village can be a confusing one, given that the senior must get the funding right. If you don’t have immediate funds, consider downsizing as an option to unlock added funds, which will help in dealing with the upfront costs and additional expenses in the future. Since it can take a while to sell your existing property, you can also consider a reverse mortgage, where you borrow funds against the equity of your home. However, before you go for this option, consider talking to an expert in detail about reverse mortgage. The last choice is to go for a home reversion, which allows you to sell a part of the property but doesn’t create a loan like a reverse mortgage.
To avoid the unwanted confusion and frustration, always talk to the retirement villages in detail and check what they can offer for your healthcare needs and other requirements. As you grow older, you would want to be assured that your retirement village is well facilitated to cater to varied requirements. You can check online to search for the best options in your preferred region. The perfect retirement community can change the way you enjoy and live the final years of your life.