For many people, the transition to independent living may feel intimidating. A big lifestyle change brings with it a natural amount of anxiety and doubt. The good news is, the benefits of retirement village living far outway the worries so once you alleviate some of that initial stress you’ll find your new way of living can be quite smooth sailing.
Retirement villages open up opportunities to make new friends, become a part of a community, learn new skills and get you the support you need, all while maintaining your independence. So the best thing you can do to ease the transition is to make preparations for the process, which is why we have created this helpful guide on what to prepare for independent living.
1. Find your ideal community
Perhaps the most important step in preparing for independent living is to find the right community and village for you. This means you (or a trusted loved one) should conduct thorough research into which one is the best fit. You should consider:
Where do you want to live?
If you want to be close to friends and family, you may want to look at villages in your local area. Or perhaps you would like a change of scenery, such as a beach or country-side location to live a more relaxed lifestyle. You will also want to consider whether you want to live in a villa, house or apartment. Location may determine which type of living situation is available to you. For example, inner-city locations are more likely to offer apartments. Whatever your desired location, there will be an independent living facility suited to you.
What kind of lifestyle do you want?
Since you are interested in independent living, it’s likely you want to live with as much independence as possible. This may look like cooking for yourself, maintaining your own garden, lots of activities to participate in, easy access to transportation and more. Reflect on what needs you need met and the kind of lifestyle you desire to determine the kind of living environment you want.
Do they offer the support you need?
While an independent lifestyle can be possible to achieve you may have other factors to consider, like the amount of support you require for your health. Each retirement village will offer different facilities, amenities, maintenance and care so with a little research you’re bound to find one ideal for your precise wants and needs.
2. Assess your finances
When you no longer have a constant stream of income, finances quickly become a deciding factor in life after work. So it’s recommended that you do a deep dive into your pockets to uncover what you can afford, to remain living within your means. The cost of residing in an independent living village will vary by your needs and budget so the important questions to ask yourself are:
Is this independent living facility within my budget?
Hopefully, you have saved some money for retirement after a lifetime of working. Most people will have a superannuation account, which holds employer and/or voluntary contributions that can normally be accessed from around 55 years of age. You may even be selling your house in order to make the move to retirement living, which will also open up your budget. Everyone’s situation is different, so it’s recommended to consult a financial planner to help determine what the best decision for your budget is.
What package/fee system will I need?
You will need a clear understanding of the independent living facility’s pricing model and which package or fee system is relevant to you. A retirement village can offer anything from an all-inclusive recurring fee to a tiered package for required levels of care. Most of this information should be available on their website or they will have a point of contact to learn more.
3. Take a tour of the village
If you live in the same city as your ideal retirement village you will want to take a tour of the residence and facilities. Otherwise, the village should have online tours for the accommodations. When visiting, you can meet with a sales agent who will walk you through your future home and premises, this may include facilities such as:
- Pool, cabana & BBQ
- Restaurant
- Bowling green
- Gym
- Community centre & library
- Hairdresser & beautician
- Recreation centre
- Workshop
- Wellness centre
- Share car site.
The sales agent will discuss the features of the residence, as well as answer any questions you may have in regard to the contract, sale and settlement.
4. Read your contract
So you’ve decided on the retirement village you want and have your contract. Have a comprehensive read-through of this contract before you sign and pay a deposit to ensure you are happy with the terms. Independent living agreements can be a little different to normal lease or sales agreements so asking a trusted loved one for help is always a great idea if you’re not familiar with legal jargon. And if you’re really unsure, it’s always wise to get professional legal and/or financial advice. However, it’s good to know most contracts of this nature do have a cooling-off period if for any reason you change your mind shortly after signing.
5. Get your affairs in order
If you haven’t tied up loose ends yet, now is the time to do it. Depending on your current living situation, this ‘switch over’ can look different for each person. But generally, as you prepare to move to an independent living facility, you will ensure:
- Your current accommodation has been handed over properly
- Your belongings are all packed up and organised
- The utilities and charges are disconnected or switched over to your new address.
This can feel like a lot (especially the packing of boxes), so it’s important to ask for help when needed. Call friends and family to come over and help you pack, or hire a professional service to do it for you. There are even free services such as MyConnect to organise the switch over of certain utilities for you.
6. Move into your new home
You’ve made it! After only 5 steps, you’re prepared to move into your new home at an independent living facility. The only thing left to do is to move your belongings in and to pop a bottle of bubbly. The hard yards are over – here’s to living life to the fullest in a community of like-minded people!
It’s time to embrace the amazing retirement life you crave. If you’re ready to right-size your life and start living the retirement you deserve, with freedom and independence in mind, book a tour or get in touch to learn more.
