Are retirement homes expensive?

3 months ago · · 0 comments

Are retirement homes expensive?

Choosing the right retirement village for yourself or a loved one is imperative to live a smooth, stress-free retirement life. Imagine an upmarket apartment in a planned community setting and the security and care one needs for a certain age. Therefore, it is natural to choose one that extends your lifestyle, albeit without the stress and responsibilities that have been a part of your life.

Investing in retirement homes for your golden years is the same as investing in a home for your family, with all the basic amenities and security. At an age when you should be enjoying your well-earned retirement years, you need a place where you are well looked after and do not need to worry over day-to-day living nor be apprehensive of spending the years alone by yourself. And this is where the retirement villages step in by creating a haven to live a joyous retired life.

Retirement villages offer all this and more in areas that are serene, secure and away from the noise and hustle-bustle of a busy yet chaotic city life. We often consider the cost of retirement homes in Australia astronomically high, which many deem unnecessary expenses added to reap a larger profit for the owners or companies. The reality is far from this assumption. 

Let us look at the reasons as to why the retirement home cost is justified and not as expensive as it is made out to be.

1.  The locale

Most of the retirement villages are located away from the polluted city life and is spread over large areas offering a planned community with multiple options for living areas, connected with common areas and extensive gardens and open spaces for the senior citizens to live together, socialize and to move around in gardens for a healthy lifestyle. The procurement and establishment of the required infrastructure and maintenance and upkeep do not come cheap.

2. Staff and security

The villages understand the extra care and attention required by their residents and thus have well-trained staff and personnel with due background checks for the safety of the residents. There will be 24×7 security measures both within the buildings and on the ground, which is necessary for the worry-free life of residents.

3. Basic amenities

All retirement communities have basic amenities like round-the-clock attendants, an active kitchen or café, general medical aid along with facilitating aid in times of medical emergencies, a housekeeping department, a security system and recreational centers or activities like a gymnasium, indoor activity area, etc.

4. Facilities

Many retirement villages have additional facilities for a more comfortable life for their residents. In-room food service, café cum restaurant within the premises. Swimming pool, spa with the gymnasium, transport vehicles for commuting within the premises, central air-conditioning and heating system, inter-connectivity by intercoms, personal valets and attendants. Of course, you can always choose from the available facilities to fit your budget.

5. Extracurricular activities

Apart from the mandatory amenities and services, the community also plans activities and workshops for their residents by hiring professionals to conduct the activities. At times these activities are in-built in the total cost of living in a retirement village; else, they charge as per interest and participation for individual activities.

6. Transport and emergency vehicles

The retirement homes have ambulances parked round the clock with a doctor on call for any emergencies. They can also have their mini-cab or van, which the residents can use for their commutes to the city center or nearby bus/metro station.

All the factors mentioned above involve extensive planning and administration, which requires office staff to look after the residents and their homes/apartments in the community. Research the market by visiting multiple retirement homes to check their systems facilities. Meet the staff, check out the activities they offer, know the total cost of living and their insurance and refund policies. Suffice it to say that retirement community cost is reasonable considering the creaseless, well cared for, and secure environment they offer to live a quality life without any worries.

Plan your budget and look for the right retirement home that fits your budget and extends the lifestyle you are used to living. Do not compromise on the standard or quality of living in the golden years of life. Every penny spent is worth it if it assures you a secure, worry-free, well cared for and companionable environment that will be your home for the remaining part of your life. Contact our office to consult with our in-house experts, who will guide and advise you for your benefit and help you pick just the right home for your retirement years.

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