One of the primary considerations for retirees and the over 55’s when deciding whether to make a lifestyle change and transition into a retirement village, is whether or not downsizing is for them. This has certainly become an integral part of the decision making process for older Australians when they are planning for their retirement.
Typically, once older Australians reach retirement age, or around the 55-year mark, their children have entered adulthood and live independently having moved out of the family home. The responsibility of managing and maintaining the family home then falls solely on retiree occupants.
This is where the question of downsizing comes into play. Downsizing essentially involves trading in the family home for an alternate lifestyle, with retirees unlike previous generations, living longer and placing a greater emphasis on maintaining a great lifestyle. Many retirees do not want to be mowing lawns and maintaining the garden, instead preferring to spend time enjoying their grandchildren and participating in hobbies and community life they did not have time for when working.
Another consideration for retirees is cost of remaining in a large family home for years to come. The cost of such expenses such as rates, utilities, replacement of household appliances and general ongoing maintenance can be considerable. Moving into new or renovated smaller and more suitable accommodation in a retirement village is a choice many people make. Downsizing is certainly a huge step and a major life change and is one that has many benefits.
Many older Australians view downsizing as more than just a more than a cost saving exercise, but a way to commence living a healthier, happier, fulfilling and relaxed lifestyle, with retirement villages providing an opportunity to live in a likeminded community, with additional benefits, all whilst maintaining an independent lifestyle.