Oct 28 2019

Pros and cons of retirement living

Retirement Villages provide plenty of benefits for older Australians looking to downsize from their family home in retirement.

While there are many reasons to love retirement village living, it’s not for everyone. To make the decision easier, we’ve put together a list of pros and cons so you can decide if retirement village living is right for you.

A desire to continue an active social life is one of the top advantages of retirement village living

Retirement villages offer a range of activities that can help you meet like-minded people within the village.

The ease of social interactions within the village can help remove the sense of social isolation that older Australians sometimes feel.

Enjoying an active social life is even more important as you age, as research has shown that active seniors are likely to live for longer.

When choosing a retirement village, take a look at the activities on offer to make sure they align with your hobbies and interests.

While some people enjoy being surrounded by their peers, retirement villages can lack the generational diversity of an average street. If your previous home was in a social neighbourhood, you may miss seeing younger children on a daily basis.

Most retirement villages will offer personal care to help with tasks like bathing and dressing. Source: Getty

Independent Living

Older Australians who move from their family home to a retirement village can often live independently for longer thanks to the extra assistance that retirement villages can provide.

Retirement villages are also designed with accessibility in mind so you’ll find getting around at home easier.

However, when you do need to move out, almost all retirement villages will have exit fees or deferred management fees, which can be costly.

“The ease of social interactions within the village can help remove the sense of social isolation that older Australians sometimes feel.”

Low Maintenance Living

Another benefit of living in a retirement village is that most of the time you’ll be downsizing to a low maintenance unit, villa or apartment.

These smaller properties will be easier to maintain and keep tidy, and most operators can provide home maintenance help for an additional cost.

You also won’t have to worry about looking after your garden or lawn as the operator usually takes care of communal garden areas.

Some villas and units will have room for a small garden of your own, however, those with a green thumb may miss their sprawling yards.

Enjoying an active social life is even more important as you age, as research has shown that active seniors are likely to live for longer. Source: Getty

Flexibility: Additional Services and Assistance

As you age you might find you need additional help at home and most retirement villages will let you add this as needed.

Treat yourself by letting others take care of the cleaning, vacuuming or even laundry. With facilities like dining rooms and restaurants you also won’t have to worry about cooking a hot meal for dinner every night.

If you find you need more day-to-day assistance, most retirement villages will offer personal care to help with tasks like bathing and dressing.

While these services can make your day-to-day living easier and can allow you to live in your new home for longer, they will usually come at an additional cost.

When you’re choosing a retirement village, check to see how much these optional extras cost and start budgeting for them now.

Keeping on top of your health is made easier when regular check-ups can be done onsite. Source: Getty

Onsite Facilities

Retirement Villages often offer a range of onsite facilities to all their residents. These can include facilities like pools, tennis courts and occasionally even a golf course.

Standard facilities are usually included in your ongoing fees. This is great if you use the facilities frequently, however, this means if you don’t use them you’ll most likely be paying higher ongoing fees for little benefit.

Safety and Peace of Mind

Retirement villages offer additional peace of mind for both you and your family with many safety features coming as standard.

These may include additional railings in the bathroom, emergency buttons in case of a fall, and a preference for carpet instead of hardwood floors to prevent slips.

Many villages also provide security features including gates and security guards so you can rest easy, or take extended holidays without worry.

It’s worth keeping in mind that retirement villages are still a form of independent living, so while there is extra care and attention, unless you’re taking advantage of personal care services, there usually won’t be daily checks on residents.

Retirement villages offer additional peace of mind for both you and your family with many safety features coming as standard. Source: Getty