There are plenty of options for retirement villages on the Far South Coast. Photo: Luis Manuelm.
As you age and life gets more difficult, there comes a time when you have to weigh up your options to help you live a fulfilled, happy life. Many people choose to live with their families or get home care, in addition, retirement villages are a great option. Retirement villages are often affordable, safe and secure alternatives, with other people of the same age range to live with in a community-centred environment.
Retirement villages can vary in many ways, from the general ethos of the village as a whole, to the individual packages on offer, even the location can make a big difference to retirement villagers.
Many retirement villages put a lot of effort into providing their residents with a high quality of life with services such as physical, artistic and social activities. Some villages may offer fitness classes, art groups, social occasions and opportunities for continuing education.
With the quantity of options, it can be difficult to choose an option that is right for you, especially as many of the villages differ from each other in important ways. We’ve put together this article to help people find the best village option for them. We will delve into the qualities that make a village attractive, as well as list some villages that have great reputations in the area.
What makes a great retirement village?
The best retirement villages offer the best of both worlds. They provide the flexibility to design the lifestyle you desire, while offering the support needed to feel secure. Read on for the qualities to look for when assessing a village community to live in:
- Reflects your lifestyle. Much like any property decision, your retirement village of choice should reflect your desired way of life. Many variables contribute to the overall lifestyle vibe of a village. From the nature of the property, to the location, grounds, facilities, and services – each has a role to play. Consider what is most important to you and prioritise accordingly.
- Community approach. One of the biggest draw cards of retirement living is the sense of community it provides. Investigate community links across all potential villages to understand just how connected they are. Enquire about the residents’ committee, their role, and ways to get involved. Meet the community manager and check reviews to obtain an open and honest view from within.
- Amenities to activities. The best retirement villages have all the amenities and activities you could possibly need. From facilities like pools and gyms through to libraries and golf courses, the choice is yours. Indeed, many villages boast on-site cafes and restaurants. Activities on offer should also be considered. Many villages run a regular series of social events; from movie and book clubs, to knitting groups and bocce tournaments. If you have any hobbies or passions, find a village that will enable you to pursue them.
- Support as you need it. While retirement villages offer the freedom to live independently, the best will also provide support when needed. This support can vary, from an emergency call system to allied health as well as services such as hairdressers or yoga classes. It can also translate to the delivery of services from general practitioners, physiotherapists and more. Some villages might have regular visits, while others partner with nearby or on-site aged care facilities. Consider your future health needs and ensure these can be adequately met.
- Clear contracts & charges. Naturally, costs for entering a retirement village vary, and are generally dependent on the property type, facilities and services offered. So too does the legislation that governs retirement property purchases. Great retirement villages appreciate these nuances and provide a clear overview of contractual terms and conditions. All costs and associated fees should be clearly stipulated, including clauses for when these do or don’t come into play. Great villages will insist that you seek professional financial and legal advice and are transparent from start to end.
The best retirement villages on the Far South Coast
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Your experience with residential aged care services in the Far South Coast
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Frequently Asked Questions
What is a retirement village?
A retirement village is a community of properties and amenities designed for older people who wish to keep living independently in a private home while enjoying shared facilities that come with community living. The properties come in many shapes and sizes, from villas and terrace houses, through to medium and high-rise apartments. Services and facilities also vary and can range from maintained gardens and pools through to golf courses, organised social events, and 24-hour emergency assistance. For a full breakdown of inclusions consult prospective retirement villages for details.
How much does living in a retirement village cost?
The costs of living in a retirement village does vary between operators, so it is important to seek expert advice. In general, there are three core components that contribute to costs: the price paid to purchase the right to reside in the village; the management fee which is the contribution to manage and maintain the village; and the service fee which is the contribution to manage and maintain the village community. There may also be additional costs to consider such as stamp duty along with exit or deferred management fees. Be sure to clarify all costs, including payment terms and conditions prior to joining.
What is the difference between a retirement village and residential aged care?
A retirement village is primarily self-care in nature, designed for residents who are generally independent and require little assistance. They are often comprised of a group of private residences and offer a range of shared facilities for recreation along with spaces for ‘come to you’ services such as doctors, physiotherapists, or hairdressers. Unlike retirement villages, residential aged care provides accommodation, health care and support services to residents requiring round-the-clock supervision and assistance. In this way residential aged care tends to be more needs driven, with potential residents requiring an ACAT assessment along with some level of either personal or nursing care.
What types of tenure are available when buying into retirement villages?
There are various types of tenure when it comes to owning a property in a retirement village. The most common are loan-licence agreement, residential tenancy agreements, and unit titles. Less common tenure types include community title and company title schemes. Each carries different types of legal title, occupancy rights, and various charges.
What if I decide a retirement village is not for me after signing the contract?
After signing a retirement village contract, a cooling-off period of seven business days applies. During this period, you can rescind the contract without any financial penalty in most instances, provided you have not yet moved into the residences. It might be worth seeking professional counsel prior to making any contract decisions.
