6 Common Hesitations When Choosing a Retirement Village
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We speak to many people about retirement living, and over the years we have noticed some trends in common hesitations to taking that final step. We also know that many people we speak to who live in a Retirement Village tell us it was the best move they ever made. So here is a list of common hesitations that regularly come up in our conversations with people considering downsizing to Bondi Beach Astra, and our reasons why we think you should still think seriously about making the move:
I’m not retired yet. You do not need to be fully retired to move into a village, just over 55 years old. At Bondi Beach Astra we have a number of residents who are still partially working and of those that aren’t, many volunteer on a regular basis. Still more play a vital role in actively helping with their grandkids.
I’m not ready yet. This may well be the case, and we would never presume to know your circumstances as well as you do. However, we do believe that it is never too early to start thinking about what you will do in the event that you need to downsize, move to be closer to family, or require more help around the home. It certainly can’t hurt to have the conversations now to prepare yourself for when you do feel ready. Retirement Villages are not aged care facilities, they are vibrant, active communities of like-minded individuals. They provide greater security and opportunities for social connection than non-retirement housing alternatives. It is worth considering Retirement Villages for many very good reasons, but please don’t count them out because of a perception that they are full of inactive and unsociable seniors. The majority of Retirement Village residents are lively and active members of the community, making the most of their retirement years.
I want two or three bedrooms. If this is what you need, then of course many of our one and two bedroom apartments won’t be suitable. However, most of our residents have friends and family who they meet up with regularly, and many will have people to stay in their apartments. Our apartments are a variety of sizes and shapes, to fit different needs for different people. Before you reject the idea of a one bedroom property outright, consider whether it is actually necessary to have the extra bedroom. For example, will the hassle of cleaning a room you don’t use to its potential for much of the year be more or less than the hassle of having a flexible living space that could accommodate visitors? Remember that downsizing has its advantages – smaller apartments are easier to clean and upkeep, having fewer things could make you feel less stressed and more able to focus on the important things in life, and of course downsizing usually comes with a lower price tag.
It’s too expensive. Again, we can’t speak to each individual’s circumstances, but generally Retirement Villages are cheaper than non-retirement living options. Equivalent Bondi Beach non-retirement properties are on average 42% more expensive. To reduce costs by more than 3% further, if you buy a long-term lease (which most Retirement Villages offer) rather than a strata title, you won’t have to pay stamp duty on your purchase. Moreover, the Deferred Management Fee is set up to ensure that you have more capital upfront on purchase, then pay a percentage on re-sale to cover ongoing costs associated with the time that you have lived in a village. For many people this is a model that is well-suited to them at this stage of their lives.
Bondi Beach is too busy, and the crowds are too young. It is true that Bondi Beach is one of Australia’s most visited areas. However, many of our residents love the vibrant culture and opportunities that come with living in a small community that has international renown. They don’t want to live in a sleepy quiet town where nothing ever happens! Bondi, for them, has just the right blend of amenities, environment, activity and community, and they like to be around people of all ages. This may not be for everyone, but if you are considering this area you should definitely come for a visit and see for yourself what they love about Bondi Beach.
Where are the men? This is a question that gets posed a lot on Facebook, and sometimes in person too. Well, just under 30% of Bondi Beach Astra’s residents are men. We do have men who are active in the community and also on the Executive Committee, but on average more of women attend social events than men which accounts for the difference in photos on our blog and social media pages. We encourage residents to bring friends and relatives with them to events when they can, and anyone is welcome to visit the village. Retirement communities in general tend to have more women than men, and we are no exception, but actually living here you might find that there are more men around than you had previously thought!
We always love to chat with people about their options, so please do contact us for more information. We are on the phone, email, and online. We look forward to hearing from you.