How Much Does It Cost to Live in a Retirement Village – 2022 Guide

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Source: agedcareguide.com.au

Older people tend to live in older houses/apartments that require more regular maintenance, and this can be a serious challenge even when hiring a home helper. If they live alone, elderly people are exposed to a greater risk of social isolation and increased feelings of loneliness and depression. If they last, such periods can cause serious health problems – depression, chronic diseases such as dementia or heart disease, or lead to unhealthy behaviors such as smoking or drug abuse, i.e. taking them without measure and supervision. However, the decision to place an elderly person in a home can be difficult and challenging.

Source: sarvra.asn.au

The decision whether to place a parent in a nursing home or to take care of him personally is always difficult for children, because, no matter how much they love them, children are now adults who have families, jobs, and other obligations, and very often they cannot devote enough time to the elderly loved ones, especially if they need additional care. In such situations, the family quickly realizes that this is unsustainable in the long term, and they start looking for a suitable nursing home or home care.

Recently, we can hear more and more about the retirement village, which has definitely raised the care of the elderly to a higher level. Centennial Living includes living in one of many well-equipped apartments, but also everything else that a person needs for everyday life – supermarket, post office, coffee shop, green market, health care center, and so on. In addition, health care is provided for those who need it, and the best thing is that the elderly will enjoy it here because their day will be filled with activities if they want, whether it is playing cards, watching a movie, art and crafts, dancing, or something completely different.

Source: sarvra.asn.au

What we are all interested in is of course the price. Those who thought this was luxury – think again. This is actually about old people selling their homes and buying an apartment in one of the retirement villages, or as many would say – a one-way ticket. Given that the price of this property is significantly lower, the remaining money from the sale of the old property is an excellent saving. Of course, there is also the possibility of buying on a lease, and the price is always lower compared to a similar property in the vicinity of the village. Also, life in this environment provides great security both to the inhabitants of the village and to their families, because they know that they are in safe hands.

If we talk about the price of real estate in the village, roughly it could be said to be around $250,000, which, you will admit, is quite favorable considering everything it offers. Most of these villages are designed so that users are allowed to use the swimming pool, spa, library, BBQ and entertainment area, hobby garden, and many other services and amenities.

Source: retirewellsa.co.za

Many are still skeptical about buying this type of property because they fear that they will not like living in this type of community. You don’t need to worry about that. If in the first three months of living in one of these villages you realize that it is not the lifestyle you wanted, don’t worry, it is enough to give notice of redemption and you will get back the amount of the loan, which will be reduced by the number of expenses for the period you spent in the apartment. We also come to additional costs, which are monthly maintenance costs, which usually amount to $500, which, you will admit, is quite acceptable for someone who is retired because he will be able to use all the services that the village provides, which we have already mentioned earlier, such as and not to worry if any repairs are needed because that price includes everything.

The biggest advantage of living in such an environment is socializing. With age and chronic diseases, people withdraw into themselves and spend most of their time in front of the television. For people who rarely leave the house, every trip to the store starts to pose a problem, and the weather is a great excuse for them. Also, it is difficult to cook for one person, and a monotonous diet with no movement is a fatal combination for the body. Numerous additional activities are one of the biggest advantages because a person cannot be lonely. Additional activities help the elderly to develop motor skills, which slows down the aging process. Many discovered a talent right in the home, and the newer pensioners only learned to sew, knit, and crochet in their third year… Painting workshops are a regular occurrence, and they also organize decoupage classes. So, the biggest advantage is that all recreation is free and not far from the room.

Source: stivesgroup.com.au

Elderly people have to make a huge effort to stay physically active – whether they organize themselves or have family members transport them to exercise or physical therapy centers. Users of the retirement village have the opportunity to exercise daily on the spot, with all the necessary equipment and expert supervision. And everything is easier in a group than alone, whether it’s a walk or stretching exercises.

One of the reasons why people avoid placing elderly people in a nursing home is that loved ones are being moved from their home and taken to an unknown environment, with unknown people, where no one can guarantee with certainty how the accommodation period will go. When it comes to retirement villages, you don’t have to worry about that because a family member can also stay in the accommodation for a month to make sure that the loved one will not miss anything. What is important is that you pay attention to the location when choosing a village, and choose one that is close to your home so that you can visit regularly.