Make the most of your golden years
Moving to a retirement village has endless benefits, with many older Australians choosing this option to enjoy their golden years.
With different villages to choose from, Janice Menzies, Village Manager of Acacia Living Jacaranda Gardens, offered some tips to help you make the right choice.
According to Ms Menzies, people generally moved to a retirement village for the safety, the locked-down lifestyle and leave, to be around like-minded people with similar interests and for social interaction.
“Funding is a consideration, as each village may have slightly different rental choices,” she said.
“Acacia Living Group has a 45-year lease in most villages and a lifetime lease in Jacaranda Gardens Village, while other retirement villages may offer a 55-year lease.
“It’s always good to seek independent financial advice.”
Retirement villages have a safe, secure and social lifestyle that may not have been experienced living in an independent home.
“When buying into a retirement village, consider lifestyle, including choice of activities – see if the village has an active social club that hosts parties and outings,” Ms Menzies said.
“Make sure it offers peace of mind with a 24-hour monitored helpline and maintenance issues taken care of.
“Most of the villas are in a gated community with residents of the same age, so there are no issues with living near young people.
“Some pets are allowed, subject to approval – usually small dog breeds that are sociable, calm and in control.”
Ms Menzies said it was important to do thorough reading and research before committing to a retirement village.
“Read and understand all disclosure documents or release fees and seek legal advice,” she said. “You should also ask the village chief to explain the village rules to you, as they may vary.
“Try to visit open houses and speak with management and residents to get feedback.
“Discuss the move with the family and make sure they understand the retirement village model.”
As a resident of a retirement village, it is important to know that you are legally protected.
“Your house is yours for the duration of the lease,” Ms. Menzies said.
“The Retirement Villages Act 1992 and the Fair Trading (Retirement Villages Code) Regulations 2006 ensure that your rights are protected.”