Renae Diggles

October 2, 2020

Staying or Moving in Retirement to Age in Place

Renae Diggles

October 2, 2020

Staying in the Family Home

Retirement isn’t what it used to be. Many people work until they’re much older. Others are interested in travelling and retiring abroad. Villages to retire in have changed too. Nowadays people are moving into retirement villages when they’re in good health. They don’t necessarily move into a village to slow down at the end of life. In fact, many people like the idea of a retirement village so that they can age in place.

Ageing in place has extensive benefits. You may choose to stay in the family home or relocate into a retirement home. If you choose to stay in the family home you’ll have to consider your future needs. Your physical needs may change and you might develop age-related health conditions. These health conditions will often require greater care and support.

Additionally, if you’re living alone in your own home, social isolation can become a real concern. With all that being said, a major factor in being able to stay in the family home is the layout of the home. Can you age in place with the current home layout? You might need to make some home modifications to make this possible. Also, consider that ageing in place in the family home will be simpler if you’re close to shops, doctors, hospitals, family and friends.

Staying in the family home isn’t an option for some people during their retirement years. Their preference or need is to sell the family home and explore other accommodation options that allow them to age in place. Several retirement villages offer independent living and assisted living, as well as high level residential aged care. The accommodation advancements now on offer by providers means that ageing in place is becoming increasingly feasible.

Looking onwards, it’s important to consider the pros and cons of selling the family home and moving into a retirement village when the time comes.

moving house garage sale

Benefits of Living in a Retirement Village

Many retirement villages offer both retirement living as well as residential aged care. This allows seniors to consider ageing in place. Many people feel a sense of calm knowing that their future care needs can be met where they live. Furthermore, people tend to feel safer when they live in a community with people of similar age.

Another pro for living in a retirement village is that the homes are considerably smaller. This usually means that they’re easier to manage than the family home. They’re also typically on a single level (or have elevators). Furthermore, there’ll be little to no gardening required, little maintenance required and much less cleaning to do. This will free up your time and reduce the physical stresses associated with managing a family home.

With more free time you’ll be able to enjoy the social activities that retirement villages now have to offer. These activities range from free concerts to high teas. You might even get to do wine tastings or religious-based activities to name a few. There’s usually transport services available and frequent outings planned too. But we’re all different, and retirement living isn’t for everyone.

Benefits of Staying in the Family Home

If you’ve ever been down that road, you’ll know that moving houses is expensive. By choosing to stay in the family home you won’t have to worry about the stresses and costs associated with moving. These include removalist fees, buying and selling furniture. And let’s not forget stamp duty on the new property and the legal fees.

Moreover, if you’ve been living in the same house for many years you’ve probably got a lot of treasures. The many wonderful belongings that you’ve accumulated will probably have to reduce if you downsize. You might not want to go through that.

Additionally, if you remain in the family home you can do activities on your own terms. There’s no pressure to participate in an environment that involves communal living. Therefore you’ll have a sense of control over your life and activities.

Help in the Family Home

Staying in the family home and ageing in place is possible for many people nowadays. That’s because the Australian government offers subsidised in-home care to eligible Australians. In-home care support services on offer include the Commonwealth Home Support Programme (CHSP) and Home Care Packages (HCP).  These care support services that you can receive at home are vast. They range from support with activities of daily living, nursing care, home modifications, transport and much more.

But at the end of the day, always make the decision that’s right for you to meet your needs. Moving during retirement can be really challenging. We all have emotional attachments and long-lasting memories of places we’ve spent so much time at. Looking towards the future and what is best for you will have its rewards whether you stay in your family home or move on when the time comes.

Moving Into an Apartment in Retirement

There are many options when you consider moving homes in the retirement years. These days, some Australians are opting for over 55s communities or retirement villages as their housing preference. However, there are associated costs with these options, which may include costly exit fees when the time comes to sell your village home.

An alternative to village living is purchasing an apartment. Although there are body corporate fees, there’s a sense of freedom in choosing apartment living.

An apartment is often cheaper than a house. So if you sell the family home you’ll typically have additional funds from the sale.

Furthermore, an apartment is easier to maintain than a bigger house, and it is usually easier to clean as well. It also offers additional security and internal lifts.

Last but not least, apartments are often centrally located, with shopping centres and other amenities. These include pharmacies, doctors, public transport and restaurants, allowing you to age in place.

Moving Into an Over 55s Community or Retirement Village

Retirement villages are housing developments. They’re designed to accommodate people as they age. The services and facilities provided specifically cater for the ageing person. Retirement villages can have any combination of self-contained units, villas or serviced apartments. Assistance with certain activities of daily living is offered in many villages too.

Some retirement units are owner-occupied and others are rental properties. Many people choose to live in a retirement community to surround themselves with like-minded people of a similar demographic. They can enjoy the facilities that are offered too, such as golf courses and swimming pools. Support services can include domestic support or meal preparation. Many people enjoy the security that they feel in a retirement village and they may also enjoy the additional funds that they obtain from the sale of the family home. By doing this, they can live in a similar area due to the affordability of retirement dwellings. There are many different retirement village models on offer.

You can look at a privately owned retirement villages where you purchase an apartment or villa under a tenure agreement. Alternatively, non-for-profit funded retirement villages where entry to such a village is on a need basis is available for those who meet the criteria. Also, there are retirement villages that offer services such as cleaning and meal preparation. Please note that these services may still be accessible if you are in an independent living unit via a home care package or the commonwealth home support programme. You can contact My Aged Care to discuss your eligibility for these services by calling 1800 200 422.

Ageing in Place in a Retirement Village

Finally, there are retirement villages that have different levels of residential care attached to the premises including low care and high care. This allows individuals and couples to age in place. But remember that to access residential aged care, an ACAT assessment is necessary. To discuss this further please contact My Aged Care by calling 1800 200 422 or have a chat with your G.P.

At the end of the day, whether you are moving into an over 55s village or retirement village, consider the various ownership structures first. Seek legal advice before entering into any agreements as ownership structures and fees will vary from place to place.

 

 

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