If you’ve worked hard your entire life, saved up money, and made all the right financial decisions, you deserve a long break to live out your golden years in comfort. Picking the right type of accommodation in your later years can be incredibly difficult since there are so many choices. One of the most popular options today is actually moving into a retirement village instead of keeping your current property or moving into a retirement home.
So what kind of advantages can you expect from a retirement village?
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Downsizing to a property that suits you
Many seniors tend to be left with large homes that are no longer suitable for their needs. Perhaps your children have moved out and started lives of their own and maybe your home is just too big for your needs. Not only does it cost a lot to maintain, but it’s also a pain to clean, and having empty rooms in your home can be a little depressing. While some people choose to keep their large homes in the event the family comes over for a party or celebration, others will likely choose the more economic route of downsizing. Retirement village properties tend to be a little smaller while still being well-equipped for senior living standards.
It’s a lot more flexible than you might think
With excellent security options, flexible accommodation arrangements, and the ability to stay as a couple with your partner, retirement village properties can actually fit a large number of different cases and circumstances. We suggest that you speak to services such as ERL retirement villages to learn more about the individual retirement village and the services they offer. Finding the right place to invest in can make a huge difference and we highly suggest that you do a bit of research before contacting the service.
You still own the home
A lot of people tend to misunderstand what a retirement village property actually implies. They Might assume that it’s no different to a retirement home, but that’s not the case at all. In reality, you’ll actually own the property instead of just renting it. This means that you can sell the home in the future or even pass it on to your family later on. You can even sell it in your Will if you decide that you want to give the money from it to your family.
It’s a cost-effective option if you’re downsizing
If you’re selling your previous home to move into a retirement village property then you might end up with a considerable chunk of change to spend on whatever you like. Downsizing typically means moving from a large property to a smaller one, meaning you can free up a lot of capital that can be used on anything you like. In addition, the services that surround a retirement village property mean that you spend less money on things like travelling around and even groceries, making it a cost-effective way to live and spend your retirement fund.
