As Australia’s population continues to age, many over 55’s are now jumping on the retiree bandwagon. Not only are more over 55’s choosing to enter retirement, more and more retirees are choosing to downsize as part of their retirement plan. Gone are the days of holding onto the big 3 or 4 bedroom home with lavish manicured gardens and lawns. Many have spent their entire working lives diligently maintaining their homes, raising a family and paying off the mortgage. They are choosing to live a much simpler and easier and hopefully happier life in a retirement village.
Such is the strength of the downsizing retiree movement, that there are now many large companies and organisations including publicly listed ASX companies who are investing long term in the retirement village sector.
A testament to this emerging lifestyle trend, a survey conducted by the Property Council of Australia in 2014 suggested that there were more than 2,300 retirement villages in Australia, housing an estimated 184,000 seniors, with that number expected to double by 2025. Additionally, it is estimated that at least one third of the retiree population, has considered or are considering retirement village living either now or in the future.
Why are retirees downsizing? Hopefully these articles and the FAQ’s will help provide you with valuable information to help you decide what is best for you.