Thinking of retirement living? Here’s a few things to consider…

Considering making some changes to your living arrangements? This may mean looking at smaller, low maintenance properties, however there’s another option to consider; that’s retirement living.

The 2018 Property Council Retirement Census showed nearly 30% of new retirement communities under development have vertical village components, and with modern retirees seeking holistic lifestyle solutions, this means a greater range of services than what may have been seen previously.

If you’re contemplating retirement living, consider these points.

Try before you buy: Many retirement villages offer the opportunity to stay in one of their properties for a period of time, experiencing what life could be like. Enjoy access to community facilities, participate in the many activities on offer and meet the residents. A trial stay is the perfect way to decide if retirement living might be right for you.

A solution that caters for you long term: There are retirement villages that cater only to independent living, with no assistance on offer. Other facilities offer in-house services as the needs arise; a move to low/high care facilities within the same establishment; or a neighbouring higher care facility within the same grounds. Research what’s available, and costs associated with these services/facilities if they are required later.

Doing the maths: The two most common scenarios will involve selling your home or renting it out. Assistance from a financial planner is strongly advisable, providing insights as to the amounts of money/assets allowed to have before things such as pensions are affected. They’ll also have the most up-to-date knowledge on schemes such as the governments ‘Downsizing Incentive Scheme’, and whether these are an advantage or disadvantage for your circumstance.

Understand what you’re signing: Seek expert advice; take the retirement village contract to a lawyer and/or a financial advisor before signing, and where suitable, discuss your thoughts with family members and friends.

Noel Jones understands a change in living arrangements is an important decision. With a portfolio of 10 Noel Jones offices throughout the eastern suburbs of Victoria, our team members can assist with the sale or lease of your property to help you make the change in living arrangements you desire.

Share:

More Posts

Strategies to get the most out of an investment property

Strategies to get the most out of an investment property   Maximise Depreciation Deductions: Maximising depreciation deductions is essential for property investors to significantly reduce taxable income, thereby lowering tax liabilities and increasing cash flow. Depreciation allows investors to deduct the cost of their property over its useful life, providing substantial tax benefits. By accurately assessing and maximising depreciation deductions,

Market Update | May 2024 Edition

Your May monthly update from Noel Jones, including the latest property market statistics and news from our team. Melbourne saw a relatively stable month during April, with many people taking time off during the Easter long weekend, school holidays and ANZAC Day break. Property prices remained stable for houses and units throughout the month, while industry-wide auction clearance rates held

Government Grants and Incentives for Melbourne’s Property Market in 2024

The Australian property market, particularly in major cities like Melbourne, has seen significant changes in recent years. While some government initiatives remain in place, new programs are less frequent. Let’s delve into the current landscape of government grants and incentives relevant to Melbourne’s property market. Existing Federal Government Initiatives: Home Guarantee Scheme (HGS): This ongoing program offers various guarantees for

Why Noel Jones Could Be Your Best Career Move

Are you passionate about the real estate industry and looking for a dynamic, supportive work environment? At Noel Jones we offer a unique blend of industry-leading training, cutting-edge technology, and a strong support system that sets us apart from the competition. Fuel Your Growth with Continuous Learning: At Noel Jones, we believe in empowering our team members to reach their

Send Us A Message

Good Job!

Thanks for taking the time to let me know about your needs.

I look forward to helping you find your new home.​

Buyer Requirements

Thank you!

I’ll be in touch soon with information on the suburb you’re buying in.

Find Out More