Living Alternatives
For many, retirement living is an exciting new chapter of life offering activity, new interests, meeting people and the opportunity for a lifestyle change. Some people like to stay in the same area which they have lived in for many years, while some like a complete change of surroundings. There are numerous living arrangements that can be considered in choosing your new lifestyle, some of which are detailed below.
Independent Living Units and Villas are ideal for village residents who enjoy having the freedom to take care of their daily activities, with the advantage of having access to community facilities, beautiful gardens, maintenance and security. Independent Living Units are designed to have everything you would normally have in your home, including a kitchen, living and dining areas, bathroom, laundry and bedrooms (the number of which will vary). Some units also have an external garden area, courtyard, garage and carport space.
Assisted retirement living is offered through Serviced Apartments. Residents living in serviced apartments receive assistance with daily living activities such as cleaning, laundry and preparing meals. Following an assessment to determine the level of assistance required, your specific needs and concerns will be catered for. The level of assistance offered will vary for everyone; residents may be in excellent health or can require some assistance. Apartments usually offer a kitchenette, living area, bedrooms, bathroom and sometimes offering hand rails, and emergency call units.
Flexi Units are a great combination of the above two living alternatives. These units provide independent living with the option to take up assistance with additional services such as meals, laundry and cleaning. These options are usually carried out on a user-pays basis. Flexi units often include a lounge and dining area, bedrooms, bathroom, kitchenette and laundry.
Extra Care Services are offered in some retirement villages. Village staff put together a tailored Care Plan or Care Package to assist with a variety of needs which may include personal grooming, showering and dressing.
Looking for a retirement village? Where do you start ......
Searching by location or lifestyle? Why not both? Without moving a muscle, retirement living online provides you with search options for both location and lifestyle. Using our Australian Map search page users are able to search by state, allowing to get a feel for different areas throughout Australia. On the other hand, you can browse through our lifestyle choices, which allows you to explore different options, whether it be life by the beach or life in the country, you will be able to see what best suits you. Our web site will short list retirement villages based on your search critera.
Once you have found a couple of villages that you like, visit them! Visit as many villages as possible that match your general location and financial requirements. When you do visit these villages, talk to residents and find out what they like and don't like about the place. Why not take a friend or family member with you. While walking around the grounds think about if you can see yourself living in this village and have some questions ready to ask the village owner.
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Fees and Charges
There are various fees and charges associated with the different retirement living options. For example under the Strata Title arrangement there may be additional fees set out in your contract that you need to be aware of including body corporate fees (as unit owners are automatically members of the body corporate), GST charges if you are the first owner of the unit, and a possible maintenance charge. Your contract may provide for money to be returned to you after you leave the village. This can be a result of either the ingoing contribution that you may have paid during your time as a resident at the village, or it can be from the next resident of your unit.
Before you enter a retirement village a fee that you may be subject to is a waiting list fee. Some retirement villages have waiting lists, which are available only by paying a joining fee. When looking into this option questions that should be asked of the village owner are:
- what is the fee amount;
- do you get this payment refunded upon entering the village; and
- what is the average waiting period?
A term that you may also hear when looking into certain fees and charges is an ingoing contribution. This is the largest single payment that you will be likely to pay which secures your right to occupy your premises. This upfront payment will be set out in your contract, usually being refundable either in part or in full once you have left the village, it is important to clarify this with the village owner.
Whichever village you choose a recurrent charge or as it is more commonly known, a maintenance fee will be expected to be paid usually fortnightly or monthly. This cost will cover:
* managing the facility, including staff members salaries;
* providing additional services such as an emergency call system; and
* maintaining the facility and common areas such as the gardens and recreational facilities.
A special levy is also something to look at in your contract. This is where the retirement village may require an injection of funds for capital expenditure in addition to ongoing maintenance. This may be required for an unexpected major repair. The Retirement Villages Act 1986 allows the operator to seek this special levy if certain conditions have been met.
Departure or outgoing fees, sometimes called a deferred fee is usually required when leaving the village. This fee could be part of your purchase price that may have been deferred until the end of your occupancy or it could be a set amount of your ingoing contribution, which may have been outlined as non-refundable in your contract.
Other payments you will need to factor in are living expenses that are seperately metered and charged to your unit such as telephone, gas and electricity, as well as insurance for your household contents.