Did you know, by 2050 it’s predicted a whopping 8.1 million Australians will be aged over 65? That’s a whole lot of Aussies who’ll be looking towards where to spend those precious golden years!
Retirement villages are proving an increasingly popular choice for those in this age group. In fact, the uptake is growing faster than any other housing option designed for older Australians. In 2014, 5.7% of our population aged 65+ had chosen retirement village living, and this figure is projected to increase to 7.5% by 2025.
So, what is it about these purpose-built communities that’s so appealing for our older demographic, and how do you know if it’s the right choice for you?
Here’s how it all started …
The History of Retirement Villages
Retirement villages are not a new concept in Australia – in fact, they date right back to the late 19th Century!
With humble origins in the church and charitable sector, from the 1860s organisations like the Royal Freemasons began providing cottages to financially disadvantaged older Australians.
Momentum continued to build, and by the early 1950s there were almost 200 not-for-profit organisations across Australia dedicated to providing housing for the elderly. Initially they offered independent living options, but evolved to provide a wider range of amenities and care services.
Australia’s very first official retirement village was constructed by Wesley Mission in Chermside, Queensland in 1936. Now known as Wheller Gardens, it is still operating today!
Today, the private sector operates around 60%, and not-for-profits, 40% of the almost two and a half thousand retirement villages across Australia.
What are the benefits of Retirement Villages?
- Amenities and Services. Retirement villages offer a range of amenities tailored to residents’ evolving needs. These could include fitness centres, swimming pools, libraries, communal gardens, shops and restaurants. Then there’s the the all-important on-site medical facilities, including doctors’ clinics and emergency response systems, allowing quick and convenient access to healthcare.
- Strong Sense of Community. Retirement villages foster social connections, friendships, and a sense of belonging. The shared activities, events, and clubs on offer can help combat loneliness and isolation.
- Safety and Security. Retirement villages provide a safe and secure environment. Generally gated and monitored, they offer peace of mind, enabling residents to just relax and enjoy the lifestyle.
- Downsizing and Simplified Living. Seniors can downsize to low-maintenance housing, reducing the burden of home upkeep. Well-designed and accessible housing promotes a fulfilling and active lifestyle.
- More Time For YOU. You’ll have a team taking care of all that home maintenance like repairs, gardening, and even cleaning. That means, more time to do more of what you love!
While retirement villages continue to be a popular choice for older Aussies, thorough research is crucial to make an informed decision on whether it’s right for you. It’s a good idea to talk to an Aged Care and Retirement Planning professional, for expert guidance with making this significant life change.
As Australia’s population ages, one thing remains clear. Retirement villages will continue to play a vital role in enhancing the quality of life for many seniors. Life can be one long holiday once their working years are done!
