FAQ: What Is A Retirement Village?

What defines a retirement village?

A retirement village is a community of homes and facilities designed for over 55’s who are active enough to live independently in their own home. Residents of retirement villages benefit from added security, a community environment and additional features like community facilities and customisable services.

What is the difference between aged care and retirement village?

A Retirement Village is primarily self-care, i.e. you look after yourself, & choose to make the move to a Retirement Village (if you are over 55 years of age). An aged care facility requires the potential resident to have an ACAT assessment, & usually involves some level of care, either personal or nursing care.

What are the pitfalls of retirement villages?

4 Pitfalls of a Retirement Village

  • entry capital and recurring payments,
  • ongoing fees,
  • exit fees,
  • other things you have to pay.

Are retirement villages a good idea?

Because retirement villages are purpose-built for older people, they offer many lifestyle and practical benefits. Residents enjoy a strong sense of community, feel safe and secure and can enjoy more quality time with family and friends.

What is the purpose of a retirement home?

A retirement home, simply explained, is any privately owned facility designed to accommodate individuals in their senior years. It’s intended for those wishing to maintain their lifestyles while also experiencing on-site support and care.

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Do retirement villages provide meals?

Some retirement villages offer different types of home care services including meals, cleaning and personal services. These services are optional extras and usually involve an extra payment.

What services are available to elderly?

Elderly support services include:

  • Home Care.
  • Meals on Wheels.
  • Personal Safety Alarms.
  • Community Visitors Scheme.
  • Carer Gateway.
  • Continence Assistance.
  • Dementia Support.
  • Respite.

Are retirement homes free?

A Life Plan Community (also known as a CCRC, or continuing care retirement community) usually has an entrance fee. Remember that when you make your home at a senior living community, those homeownership costs for taxes, insurance, utilities, repairs and so forth are all covered by your monthly service fee.

Is retirement home same as nursing home?

Retirement homes cater to people who are independent but want to be able to access care and support if they need it. Nursing homes are geared towards people who need round-the-clock and care and medical assistance. These services are generally not offered by retirement homes.

Can anyone buy a retirement home?

As you may expect, retirement properties aren’t available to anyone and you have to meet certain criteria to be able to buy a retirement property. The restrictions on buying retirement properties generally revolve around age, whether you want family staying with you, if you have a pet and how much care you need.

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