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4 Facts About Retirement Villages Everyone Thinks Are True

After a couple of booming scandals [ABC] – seniors and their families are stepping further away from retirement villages. Many left “while they still have a chance” and many completely abandoned this option for retirement.

We also published a few cases where retirement villages turned into a retirement nightmare.

But if you think that this is not all there is to retirement villages, you are right.

Even after all they are saying, if you still think retirement villages are the right choice for you.

And you are not wrong.

The Other Side Of The Story

One of the biggest benefits of retirement villages is that you can keep your independence while leaving all responsibility and care to the staff. It feels like you are almost on vacation day and night!

There are many happy stories coming from retirement villages and one of them involved the creation of Pharrell Williams’ Happy song remake. This can be your story, too. You can find the retirement village that will make you feel happy, safe and social.

All you need to do is a little homework (and find a really good contract lawyer!).

In fact, retirement villages can be a dream comes true for many seniors. They are assisted communities in which you can have the full freedom of your own home plus the additional care and attention you need.

Moving into a retirement village can be a painless and pleasant process, and the urban myths and horror stories that have flooded the Internet are only one side of the story.

Let’s bust some myths and get you prepared for these big steps with:

 4 Facts About Retirement Villages Everyone Thinks Are True

1.    All retirement villages are similar

In fact, they are all different and this is key to choosing the right one. They will offer different contracts, affordability, accommodation, social activities, facilities, management and medical services, legal conditions and requirements. That’s why the key is to set your desires and priorities straight and research as many villages as possible. Don’t assume that because someone is happy somewhere, you will be too (the other way around works as well).

 2.    The retirement village contract is similar to a lease contract

Unfortunately, it is much more complex piece of agreement. Many people who have signed tons of leases find themselves helpless with a retirement village contract. The reason for the complexity is the ownership of the villages and the varied accommodation options they offer.

Just know what you want and let your lawyer go through the contracts and policies. She will advise you where and what you will be getting into. Problems arise when you skip this step and sign without consideration.

 3.    I can leave whenever I want

That’s also a myth and has been the reason for the huge boom of criticism against retirement villages. The truth is that if you don’t read your contract carefully, yes, you will be stuck in there for longer than you want. Many retirement villages will require your property to be re-sold before you can move out or be repaid. On the other hand, there are many villages with very favourable exit plans.

4.    You are buying a house

Wrong again. You are buying a service that comes with a house. There is medical care, community services, management fees and maintenance fees. When you are getting into a retirement village don’t consider only the price of the property but also the additional fees that you will be charged. If you are aware of all the fees in advance, you have nothing to worry about.

Retirement villages are not so scary or complex to live in. Yes, there are things you should be careful with. And yes, you should do thorough research before choosing your retirement village. And then, again, you need to have a trusted lawyer review your retirement village contract.

 But if you do those 3 simple things, you have nothing to worry about.

Don’t believe everything you hear. If you do your homework you will feel more confident with your choice.

Start researching online for retirement village options and as soon as you are left with 5 choices, request further information and policies from them.

Limit your list to your top three (to save time with the lawyer) and get a legal consultation with an experienced retirement village lawyer.

If you follow this process, you are set for retirement village heaven!

Need help choosing a retirement village? We can help you avoid the pitfalls and enjoy your retirement.

Already have a retirement village contract? Let us review it and identify the areas where you might be at risk so you can take timely measures.