Retirement villages are the perfect place to live once you retire. Many seniors will have a difficult time choosing a retirement village. Below are some vital tips to help you choose a retirement village.
What kind of house do you want to live in? Some retirement villages will have mansions while others have apartments. You may or may not find shared living options. Once you find a suitable home, ask your conveyancer to organise a house inspection. The inspection will help you determine the condition of the property. For instance, does it have any pests? What is the quality of internal and external fixtures? Does it have roofing or flooring problems? What is the condition of structural fixtures such as pillars and foundations? Is the property exposed to natural hazards such as floods and fires? The pre-inspection report will give a clear picture of whether you will get value for your money.
You should also check the form of ownership. For example, the village may have a company, strata or freehold title. You may also find rental or leasehold properties.
The retirement village should be managed by skilled and experienced professionals. Additionally, you may want to avoid debt-laden villages. Retirement villages will have rules and regulations to promote harmonious living among residents. For instance, residents may be prohibited from creating home extensions, changing the roof or installing fences. Besides, they may be restricted from holding parties at night.
What services are available at the retirement village? Check the following:
- Health services. Some villages will have medical personnel to monitor the health of residents with long term conditions such as diabetes, cancer or arthritis.
- Examine the available recreational facilities. For instance, the complex may have swimming pools, tennis courts and golf courses.
- Some villages will have housekeepers to clean your home, clean laundry and prepare meals.
- Who lives in the facility? Some villages will admit people from a specific profession (such as military officers or teachers), LBGT or persons affiliated to a particular religion.
Your conveyancer should help you examine the village's pricing strategy. Other than the buying price of the house, you should also check annual charges used to maintain common property. Some villages will have a waiting fee while others will charge residents to use recreational facilities. If the property has a strata title, you may have to pay the property manager or repay current debts.
You should now have an easy time purchasing a unit in a retirement village. Check the available homes, property management, lifestyle and pricing strategy.
For more information, reach out to a local retirement village.