Is it worth buying into a retirement village?

Retirement village living – it’s a popular choice for older Australians, and understandably so. The plus side of retirement community living is well known – community feel, built-in social network, safety and security, maintenance-free lifestyle and facilities and activities to enjoy. However, it all comes at a cost, and you need to know that you’re spending your money wisely. Of course, you’re going to be paying housing costs no matter where you live – but it’s just a matter of how much. You definitely need to consider whether retirement village living is worth the money – after all, you’re the one who’s going to have to pay for it!

We think it is.

Yes, there is a cost to buying into a retirement village, but the potential benefits far outweigh the initial cost. Such as these.

Lifestyle benefits

The biggest reason people choose retirement village living is the lifestyle benefits you’ll gain.

Retirement communities offer attractive, village-style living that comes with all the perks of an in-built social network and activities. You’ll be able to live among like-minded people of a similar age, and to enjoy their company as little or as much as you like.

As well, retirement villages promote an active lifestyle, by offering a range of activities within the community, or providing easy access to nearby local facilities such as gyms, swimming pools or golf courses. And when the activity is already organised and planned for you, you’re much more likely to attend – and reap the benefits of an active lifestyle.

Financial benefits

Retirement village living is very affordable in Australia in today’s economic climate. You’ll be able to secure a retirement home for around 64% of the price of the average two-bedroom home, making it a very cost-effective option. You’ll pay an entry fee, regular maintenance fees and an exit fee – but you won’t be paying for the cost of electricity, sewerage, water, gardening, building insurance and maintenance, administrative services, communal facilities and emergency nurse call etc. You also won’t have to pay stamp duty, council rates or taxes or strata maintenance fees. This means you’ll normally end up with some extra funds to spend on holidays, family or activities. It can be a significant area of saving for people who no longer want to pay the costs of living in and maintaining a large family home. You’ll be able to own a home that gives you everything you need, at a lower cost than you’re likely to pay for other types of home.

Low maintenance benefits

Living in a retirement community is well worth it from a practical viewpoint as well. Yes, you’ll pay regular fees once you live in the village, but in return you get freedom from the mundane tasks of maintaining your home and garden. This is of particular benefit if you are unwell or injured, and find such tasks hard to complete. Not only will this make life physically easier for you, it will also free up your time to spend on other, far more interesting things. After all, retirement is meant to be about spending your time just as you wish – so what could be better than ditching all those dull and time-consuming chores? Retirement homes are specifically designed to be easily maintained, relieving the stress and potential danger that comes with trying to maintain a house as you get older. Most retirees will agree that gaining freedom from performing all these tasks is money very well spent indeed.

Safety and security benefits

Retirement living allows you to enjoy the safety, security and peace of mind that comes with life inside a community. There’ll be plenty of safety and security features on offer (such as cameras, locked gates, sensor lights and screened doors and windows), plus you’ll have the security of living within a community where residents look out for each other. It’s very different to living independently, and can be a real comfort as you age – particularly if you live alone.

But this doesn’t mean you have to give up your freedom in order to stay safe. You’re still free to come and go as you please, and pursue whatever activities or interests you want – you’ll just be doing so from the safety of a secure community. Plus, if you want to travel, you’ll be able to do so with the utmost peace of mind, knowing that your home and garden will be maintained for you in your absence, and you’ll return to a home that’s just as you left it. All you have to do is lock up and leave, then relax and enjoy your holiday.

To make it even better, most retirement homes come with in-built emergency systems, so that you can easily call for help if you suffer an accident or emergency. You’ll feel safe, secure and completely reassured in your own home, allowing you to relax and enjoy life more.

When you consider all the different ways retirement village living will benefit your life, it is indeed worth the money you will spend. When you look at the return on your investment, it’s clear that retirement villages are well worth the money you’ll pay. You’ll gain practical, financial and lifestyle benefits that make retirement community living an amazing choice – and one you won’t regret making.

Discover all the benefits you can find at Alumuna’s retirement living community here: https://www.alumuna.net.au/retirement-homes/