Retirement villages allow senior citizens to enjoy independent living among other seniors. Most people have a hard time choosing a retirement village. Read the extract below to learn the various considerations you should make when choosing a retirement village.
The Wait List
Some retirement villages have a long waitlist. As such, you may have to wait a few years before they accept your application. The best way to circumvent this situation is by submitting your request a few years before your retirement. Also, ask management what criteria they use to admit residents into the village. For instance, some communities deal with specific groups such as LGBT, former teachers, army officers, or members of a particular faith.
Some essential services you would need in a retirement village include:
- Home services. For instance, you may need someone to do house chores such as cooking, cleaning, laundry and shopping.
- Seniors suffering from long-term illnesses may prefer a retirement village that provides 24-hour nursing services.
- Recreational facilities such as swimming, tennis and golf. You may also need a fitness centre, library, or church.
Terms of Contract
Do not commit to signing a contract before reading its terms and conditions. For instance, what activities are restricted in the retirement village? You may be prohibited from bringing your pet in the village. Besides, the management may also restrict seniors from holding parties on their property. How many parking spaces do you have? Are you allowed to create a home garden or improve your landscape? Can you conduct significant renovations such as changing the colour of your home's exterior?
Preferably, seek independent legal advice before signing the contract. Do not sign the contract if you think its terms are unreasonable. Remember, you can cancel the contract up to three days after signing.
Type of House and Title
Visit the complex and inspect the home you will move into. Ask for a pre-purchase inspection report to ascertain the structural integrity of the house and any repairs it may need. The home should be customised to accommodate seniors. For instance, it should have rails and low placed shelves. If you are disabled, the bathroom and toilet must be disability-friendly. Besides, you may need stairlifts or climbers.
Retirement village titles can be strata, company or unit trust. Examine how the owners' corporation or company runs. For instance, what are the by-laws? What charges will you incur? Some villages can also allow you to rent or lease a unit in the complex.
Choosing a retirement village is now easy with the above tips. Examine the waitlist, services provided, terms of the contract, the condition of the house and type of title.
For more information about retirement living, contact a local retirement village.