All You Need To Know About Retirement Villages

Retirement villages are all great and good options if you have reached the age and are looking to cross to the next side of the bridge. However, you need to know that you are not buying the land or own the place. You are just buying the right to live there or ORA (Occupation Rights Agreement).

After an agreed period of time, you would be required to pay a fee referred to as DMF (Deferred Management Fee). This is usually between a period of 2 to 5 years and is about 20 or 30% of the original capital you first paid. It is therefore important to be happy and comfortable for the fees you are paying.

Whatever the case, you always have to keep two major things in mind; happiness and comfort. These should be your number one priority and if the retirement villages you choose offer that, it is worth all the while.

The Benefits Of Living In A Retirement Village

Retirement villages are built and set up for older adults and even though it may be hard and difficult to sell up and move into a retirement village, it could be the best idea. Here are some of the reasons you should be considering moving out to one;

The Community

This is probably one of the best reasons to move into a retirement village. If you don’t have any children or grandchildren, or they simply live far, or even if you live in the same house they are always at school and at work, then retirement village is best fit for you. Here are retirement villages near me that you can check about.

You need the company and a community to hang out with, chat, and live alongside age mates and like-minded people. The villages provide a warm community, and you can always participate in many voluntary activities such as hobby groups, sports and games, and group outings.

Facilities And Services Right On Your Doorstep

Retirement villages have some awesome facilities and services delivered right at your doorstep or just within a short walk from your apartment. This includes a communal TV and dining area, while others even have swimming pools, gyms, salons, and more.

Need help with laundry? Or try a meal delivery? Or some housekeeping assistance? These are just but some of the services you easily have access to any time of the day or night. You will always have an add-on section where you can request just about any services at small additional fees. 

Better Healthcare

You are most likely to have medical practitioners as a village resident. This could include access to registered nurse services or an occupational therapist. These healthcare professionals may be employees within the village or contracted

You get to receive all the medical support you might need. Some villages also offer specialized care for particular health conditions if need be. Research carefully and find out all about the healthcare pathways as well as inquire about any specific special healthcare services you might personally need.

Things To Keep In Mind When Looking For A Retirement Village

First, you need to know there are different types and kinds of retirement villages and define your need and what exactly you want, before you even start the search. The resident-funded village, for example, is a type of village owned by the private sector. The residents are responsible to fund them since they are not operated by non-profit organizations. Residents also get to take part and contribute to management costs.

Donor-funded villages are owned by non-profit organizations. They are usually restricted to the ‘needy’ and include charitable subsidies. Other types of retirement properties include vials, ILUs, serviced apartments, and more. Do the research properly and determine what you want and need.