Seniors sometimes desire more sophisticated accommodation, which led some aged care villages to provide “living like a cruise ship” feel.
Recent data shows that around 5% of retirees moved into retirement villages. Experts expect the percentage to reach 7% in the coming years. Unfortunately, they also project a shortage of retirement villages in the next ten years. This is the reason why a lot of retirement village investors are scrambling to meet demand. In Western Australia alone, this number represents the need for an extra 24,000 retirement village units. Surprisingly, this surges the current level of stock by 75%.
This type of retirement accommodation is very appealing because of the lifestyle it offers.
Moving To Retirement Villages Is A Lifestyle Decision
Living in retirement villages is a major lifestyle decision. It also requires the elderly to spend huge sums of money to enjoy a comfortable living. However, everyone should understand that retirement homes do not suit all seniors. There are retirees who need high levels of care. In this case, it is better for them to go to aged care homes instead.
In the lower care set-up, seniors can choose between independent living units and serviced apartments. Independent living spaces aim to make the daily lives of residents much easier. These are designed to enable them to live on their own as much as possible. Parts of the paid perks include meal delivery, cleaning services, and security surveillance. The management also prepares a lot of events and activities for residents to participate in. On the downside, this could mean lesser day-by-day assistance or security for the elderly.
On the other hand, serviced apartments or assisted living are great for older adults who only need basic help in their daily routine. These include taking a bath, doing the laundry, taking prescription medications, and more. There is often a certified nurse care practitioner on-call 24 hours. Some apartments also have special care units for dementia sufferers. The management likewise provides transportation to doctors’ clinics, grocery stores, banks, and more. Additionally, the residents enjoy recreation schedules.
You get what you pay for
Because of these conveniences, retirees must expect high entrance and maintenance fees. It is also important to note that the prices of a unit in retirement villages vary depending on location. Entry to a two-bedroom unit in less affluent areas ranges from $200,000 to $400,000. In affluent areas like inner Sydney, the costs can be anywhere from $1,000,000 to $2,000,000. In terms of management and maintenance fees, expect them to range from $280 to $1,000 per month.
Live the “like a cruise ship” lifestyle
Reasons Why Seniors Love To Spend Money On Retirement Villages
Seniors who seek later life refuge in retirement villages expect more amenities. They love the idea of having a home away from home. This type of retirement accommodation is very appealing because of the lifestyle it offers. Moreover, the residents enjoy the spirit of community and camaraderie. They get to relax and enjoy their lives without too many worries. With these in mind, more and more retirement villages are gearing towards the “like a cruise ship” lifestyle. Think baby grand piano, pool table, infinity pool, bowling alley, wooden dance floors, and various workshops. All these will certainly bring joy to its senior residents. Not to mention the proximity of these modern-age villages to the seaside landscape or a central business district. It’s like a fusion of nature and urban. What else could the retirees ask for, right?
Retirement Villages In Camberwell
Camberwell is one of the more senior-friendly suburbs in Australia. The area offers everything any senior needs. The transport comprises trains, trams, and buses. There are also various private hospitals and general practitioners. Public hospitals are nearby so retirees will definitely not worry about their health and wellness needs. Furthermore, there are plenty of aged care residences and retirement villages at mid-high cost and quality. Lifestyle in Camberwell is pretty great too! With access to shopping areas, mouthwatering diners & restaurants, and a rich arts and culture scene, seniors won’t ever have a boring day. City access is about 30-60 minutes if they need to be in touch with the crowd on any random day. Lastly, it is also a pet-friendly and a very safe community for everybody.
In a nutshell, retirement villages are the best option for seniors who desire luxury and fun living.