When’s the right time to move into a retirement village?

November 9, 2018

By Bianca Tulich, Tulich Group & operator of The Royce @ Penrith Panthers

Check out our regular column in the Western Weekender newspaper each Friday!

The simple answer to this question is, ‘when you’re still young enough to enjoy it’! Of course, there are a few other things to consider, and the right time will be different for different people.

Today’s retirement villages are specifically designed to help retirees enjoy an active, social and relaxing lifestyle. You can live in a modern home among a community of people with common interests and a zest for life.

One of the main differences between staying in your old home and moving to a retirement village is that villages provide a lot of extras. Most have a range of facilities and shared spaces that make it easy to build friendships, be active, try different hobbies and enjoy social get-togethers.

This is especially important as we get older because staying socially active can help maintain good physical and mental health, yet many people find that after retirement their social circles have become narrower and there are fewer opportunities to try new things.

Moving into a village will also help free you from time-consuming chores, like home maintenance and mowing lawns. All the landscaped grounds, shared facilities and buildings are looked after by the village operator, so you only need to do some gardening if you really enjoy it.

Another advantage of moving into a retirement village is that it can release capital. This can help you feel more financially secure and often allows you to afford some of the things you’ve always wanted, like overseas holidays.

There’s no doubt that retirement is a time of great change. But more and more people are realising that making the move to a retirement community at a younger age provides the freedom to explore, grow, develop and enjoy this precious time of life.

The views and opinions expressed are those of the authors, please consult your own legal or financial advisors before making any decisions.