For the average person, life is pretty much mapped out in advance. After 12 years of schooling comes further education, which is very quickly followed by four decades of working for a living. This means that two thirds of your life is spent on your career, and once retirement beckons, you can look forward to the best part of life. When you think about it, retirement gives you the opportunity to do all those things that working life restricted, and many retired couples immerse themselves in their favourite pastimes, and why not?
These are perhaps the most popular relocation solutions for retired people, and with a choice of tenure arrangements, there is something to suit everyone. Retirement villages are designed around their residents, and with many activities available onsite, you would never get bored. The amenities would reflect the retirement lifestyle, and with a choice of locations that are spread across Australia, you can be near your family. There are well-designed retirement villages in NSW that offer the residents an endless choice of things to do, and with all the essential services on site, you and your partner would want for nothing.
Some people are concerned that if they relocate to a retirement village, they will never have private time, but in actual fact, your house or apartment would offer you all the privacy you need, and with many other retired people living in the village, you can have the best of both worlds. All the residents would agree that living in a retirement village offers a high level of independence, and the social aspect is an added bonus.
If you and your partner are financially secure and are sitting on a nest egg that has accumulated over the years, you would be best suited for a property purchase, which would mean you own the house or apartment, while the land remains the property of the developer. This is ideal for those who have no intentions of ever moving again, and once you own the property, you instantly become a member of the owners’ corporation.
This is the most popular type of tenure in a retirement village, and the lease would typically run for 99 years, although you could probably extend that if you wish. There are benefits to the leasehold agreement, namely that you are not the owner, therefore there is no stamp duty to pay, and with a leasehold agreement, you have no maintenance fees to pay. As you are not the owner of the property, you will also avoid those costly owners’ corporation fees, which means your monthly outgoings will be minimal.
If you and your partner are about to retire, and you are looking into possible options, think about a retirement village, as this offers you so many benefits, and with established villages across Australia, there’s bound to be a few nearby. The many benefits make a retirement village the ideal location, in which you and your partner can enjoy the golden years of retirement.