Retirement is often seen as a new chapter in life, offering a chance to relax, pursue hobbies, and enjoy the fruits of one’s labour. However, it’s important to plan for the future and choose the right environment that supports an independent and fulfilling retirement.
In this article, we delve into the concept of retirement villages providing all the need-to-know information so you can make a decision that suits your retirement goals.
What accommodations are in a retirement village?
Retirement villages are purpose-built communities designed to cater to the needs and desires of retirees. Independent living often offers either stand-alone Villas or apartments, which provide retirees with freedom, flexibility, and privacy. Often with well-maintained gardens and communal facilities that create a strong sense of community.
Who are they for?
Retirement villages are for retirees in search of a convenient, worry-free lifestyle where they can spend time doing the things they love. St Ives residents are aged 60 and above and are able to live independently. External care providers can be arranged, however, it’s important to note that if residents require a high level of assistance, an aged-care facility may be a better option.
What does life in a village look like?
Facilities
Retirement villages are built to ensure retirees can make the most of their golden years. With amenities located inside the village residents can explore new past times whilst forging tight-knit social connections in a community of like-minded people.
As with accommodation, different villages cater to different retirement goals. For example, residents of our Jolimont village have access to state-of-the-art facilities, an indoor pool, gym and cinema to name a few. Whereas our Albany retirement village is also able to provide a vegetable patch and bowling green due to its country location.
Safety and Security.
One of the many reasons a retiree opts to live in a village is the additional security. For example, St Ives villages are enclosed or gated with swipe access to enter and monitored by external security agencies.
Whilst the majority of residents are active and independent, our properties are fitted with emergency call systems which means vital assistance when needed. Ensuring residents are able to live independently as long as possible.
Many opt to downsize in retirement to reduce the load of maintenance chores, making more time to enjoy the things they love. At St Ives, landscaping services are provided on a regular basis, so, for those in search of a lock and leave lifestyle, you can rest assured your property with have regular visits.
What is the cost?
Contrary to popular belief, retirement units are quickly becoming one of the most affordable housing options for retirees.
A study by PWC and the Property Council Retirement Census has found that, on average, retirement units across Australia are 48% cheaper than the median house price in the same postcode. Meaning retirement villages could be the perfect solution for those looking to make the most of their hard-earned savings.
It’s important to note, the average cost of accommodation in retirement villages varies depending on factors of location, size, and amenities. However, most retirement villages operate using a deferred management fee, which means residents can pay part of the costs after moving out.
The fee model involves an ingoing contribution – usually the price of the house. A monthly services fee – contributing to the maintenance of village amenities. And, an outgoing cost – the deferred fee.
A video to help you understand the costs can be found here.
For detailed information on the cost of living in a St Ives retirement village, view our village pages.
Retirement villages offer a unique lifestyle tailored to the needs and aspirations of retirees. With a wide range of accommodation options, vibrant community facilities, enhanced security, and flexible exit policies, retirement villages provide an appealing and affordable choice for those seeking a supportive and active retirement.
It’s important to carefully evaluate your retirement goals and select a village that is best suited. If you feel that life in a retirement village is for you, book a private tour to learn more.