Retirement living options (including retirement village alternatives)
Baby boomers are ‘booming’. In fact, it’s estimated 6 million Australians aged over 55 are currently transitioning to retirement. Assessing the right retirement living options for you starts here.
If you’re looking for retirement village alternatives – or if you’re aged 55 and over and simply wanting to downsize – chances are location, lifestyle and affordability are high on your list of priorities.
We’ve compiled four main retirement accommodation options to explore:
Residential Land Lease Community (RLLC)
Residential land lease communities are a relatively new but fast-growing affordable living solution for retirees and over 50s with many benefits. Without the complications and costs of Retirement Villages, the RLLC is a more transparent and affordable retirement village alternative.
In short, Australians who opt for this retirement living option lease the land from the resort operator and own the house that is on the land. Because of this ‘lease’ component, and if they are on any sort of pension, it makes them eligible for Federal Government rental assistance of up to $66.50 per week.
With a low cost entry into the market, these alternative retirement communities allows people to make a dramatic lifestyle change, while maintaining their living standards into retirement. Under this model, residents enjoy all the community facilities available within the residential resort, which are maintained by management.
Independent Living Unit or Villa
As the name suggests, this option allows you to maintain a self-sufficient lifestyle in a retirement village environment. Typically, you can choose from one, two or three bedroom self-contained units or villas. This is a good choice if you enjoy an active way of life and can independently look after yourself.
With all the community gardening and maintenance taken care of, independent living as a retirement living option is about freeing you up so you can spend more time with family, friends and doing your favourite activities.
For maximum peace of mind, additional care and health support services are available.
Available to singles or couples, serviced care apartments offer the ultimate in convenience, privacy and freedom.
This retirement living option includes daily assisted living with things such as meal preparation, cleaning and laundry while you independently live outside of an aged care facility.
Transitioning to retirement couldn’t feel more seamless as you enjoy life from the comfort of your own home. With all the key chores taken care of, there’s ample time to exercise, catch up with friends and family, or go out on a day trip.
Access to health professionals and other support can easily be arranged if needed.
Rental Unit in a Retirement Village
Next on our retirement living options list is a retirement village rental unit. Here, you’ll enjoy the privacy and lifestyle of independent living, but in a village setting.
Unlike other aged care options, you can live here as a couple and choose your level of care. Living in a retirement village is a popular option for people seeking the support of a like-minded community. Also offering benefits of on-site facilities and services.
These may include access to swimming pools, organised social outings and various activities.