If you’re getting close to retirement age, it’s time to start thinking about whether a retirement village is right for you. Retirement villages can be a great option for older adults who want to live independently, but they also come with their own set of issues that you need to be aware of before making a decision. In this blog post, we will enumerate 10 of the most important retirement village issues you need to know about. 

  1. Cost: One of the most important things to consider when choosing a retirement village is the cost. Retirement villages can be expensive, and you need to make sure that you can afford the fees. Having a plan for the Ongoing Fees is a very important consideration.
  1. Location: Another important factor to consider is the location of the retirement village. You may want to make sure that it’s in a place that you’re comfortable with and that you can easily get to your appointments and activities or proximity to family and friends.
  1. Services offered: Each retirement village offers different services, so make sure you choose one that meets your needs. Some villages offer transportation, dining, and healthcare services, while others do not.
  1. Size of the village: Retirement villages come in all different sizes, so make sure you choose one that is the right size for you. If you want to live in a smaller community, then choose a village with a smaller population. If you want more amenities, then choose a larger village.
  1. Age restrictions: Many retirement villages follow the minimum age requirement of 55 years old. Make sure you check the age restrictions before moving into a village to make sure that you meet the requirements.
  1. Rules and regulations: Retirement villages have their own set of rules and regulations that you need to abide by. Make sure you are familiar with these before moving in.
  1. Maintenance fees: Retirement villages also require maintenance fees, which can add up over time. Make sure you are aware of these fees before moving in so there are no surprises later on.
  1. Pets: Not all retirement villages allow pets, so make sure you check this before moving in. If you have a pet, then you may need to find a village that allows them.
  1. Activities: One of the benefits of living in a retirement village is the wide variety of activities available to residents. Make sure you choose a village with plenty of activities to keep you busy.
  1. Amenities: Finally, another important thing to consider is the amenities offered by the retirement village. Some villages offer swimming pools, golf courses, and other recreational facilities, while others do not.

These are just some of the important retirement village issues that you need to be aware of before making a decision. Retirement villages can be a great option for older adults, but it’s important to do your research and make sure that you’re choosing the right one for you.

Author: Shaun Ganguly

Director and Financial Planner at Retirement Village Financial Advice and Aged Care Financial Planning, Shaun Ganguly specialises in complex Aged Care, Retirement Living, and Centrelink matters. He holds a Bachelor of Commerce (Finance & Economics), and is an FPA Accredited Aged Care Professional, Aged Care Guru, and Certified Financial Planner.

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