Can a person leave a retirement village?
The process for leaving the retirement village should be explained in the contract that you are given and sign before you enter the retirement living community. A resident may have to pay one-off or even ongoing fees after they leave, as part of the payment…
The benefits of a “lock-and-leave” retirement community
As you envisage becoming an empty-nester, great ideas come to mind – the holiday you always promised yourself, the weekends away, the big overseas trip. However, there’s always a hitch when the time arises: the dog, the cat, the lawns and the pool. If you…
Semi-retirement is becoming the norm before waving goodbye to work
More and more Australians are reducing the number of days they work before actually retiring, Over the past three decades there has been a marked a shift in how people retire, KPMG director of demographics Terry Rawnsley, said, with a two or three-year period of…
Pets in retirement living: does it actually work?
The idea of allowing one’s pet into a retirement village once was strictly a “no”. Nowadays, two-thirds of Australian households have a pet, which are an integral part of the household’s lives. In addition, it has been found by academics to be good for an…
Grandparenting in a retirement village
One of the biggest questions grandparents in retirement villages ask is: can my grandchildren stay over? Often grandparents will move into a retirement village to be nearer their own children and their grandchildren. Retirement villages have rules to ensure that everyone enjoys living in the…
How to talk to parents about selling the family home
It is never easy to tell your mum and/or dad that they need to sell the home they have lived in for years as it is simply getting too much. But we all slow down, and tasks like cleaning, cooking, mowing the lawn and even…
The unheard of scheme that eases the cost of retirement
With the dramatic rise in the cost of living – 4.2% than 12 months ago – retirees have a new way to boost their retirement income. Services Australia’s The Home Equity Access Scheme, a rebranded Pensions Loan Scheme, came into being on 1 January, and…
The financial sense of making the move into a retirement village
The latest PwC Property Council Retirement Census stated the national average price of a two-bedroom ILU is $484,000. When you think the average median house price in Australia is now $848,706, according to CoreLogic, that is a heavy discount. This is the Entry Fee you…
Retirement villages’ exit fees being paid out quicker
Diligent research of retirement villages will find that the exit fee – buyback – has historically been an adverse issue for residents. The exit fee, also known as the deferred management fee or departure fee, is the amount the resident in the retirement village has…
Reasons why moving into a retirement village is good for you
Leaving your family home and moving into a retirement village is a big step, but there are many benefits. People kick themselves later, realising they should have done the move sooner. Here are eight reasons to think about why a retirement village might be good…