Planning for retirement is not as easy as you might think. You have to take all your savings and plan the rest of your life around them. Today, we will be discussing three living options to consider for your retirement and the benefits of each.
1. Downsizing
When it comes to choosing your post-retirement residence, many people consider downsizing. This might be the right choice for you if you are looking for a cost-effective and easy-to-maintain option.
When you start planning for retirement, that’s when you start putting all your savings to the proper use. Anything that adds to your everyday expenses will be an added burden now. So, to play it smartly and take a more proactive approach, many Australians opt for downsizing when they reach their retirement age.
Downsizing does not always have to be considered a downgraded option. Depending on your current lifestyle, you can always find a decent home/apartment option to move to. Relocating becomes a lot easier when you downsize, and it adds an element of discipline to your life.
Downsizing also makes it more convenient for you to opt for a location of your choice. For instance, if you wish to live closer to nature, you can find various affordable options when you downsize instead of moving to a luxury condo.
We also mentioned earlier about the choice of lifestyle being a deciding factor for your retirement living option. As you age, your physical activities, preferences, leisure time, outdoor adventures, etc. – everything tends to change or slow down. You take a step back and look for peace and accessibility. That’s where downsizing could add value to your life. Living in a ground-level home or apartment is more feasible than living in a fancy two-story house.
These are some of the factors that you should consider when deciding if downsizing is the right fit for you or not.
2. Renovating Your Existing Home
Home is where the heart is, and for some people, this saying defines their whole life. While many people consider relocating or downsizing as one of their retirement living options, some people prefer staying in their comfort zone, i.e., their home. This could be due to various reasons apart from emotional attachment.
Your home and neighbourhood area are the most convenient place for you to live as you retire. Everyone knows you there, and you already know everyone. The sense of community is what most people seek when they retire. Apart from this, it is also very accessible for you to run your day-to-day errands as you are already familiar with everything.
Change is not easily digestible for many people, especially when they reach their retirement age. That’s when they want life to be simple, straightforward, and practical. A good starting point to plan for your retirement is by renovating your home. Home renovation projects may sound like a tedious task, but at the same time, it is considered highly rewarding. Renovating or remodelling could help transform your home into your dream house. It is also an excellent activity to keep yourself busy with during your early retirement years.
Contrary to popular opinion, home renovation does not always have to be an expensive project. You can do it in instalments and choose your projects wisely. Moreover, there are various renovating projects that you can handle on your own without the need to hire professionals or extra labour. This will save you a tonne of money and keep all control in your hands. You need to plan things strategically and choose what to prioritise. The results? Living in your dream house for the rest of your life.
3. Move To a Retirement Village
Retirement villages have started gaining immense popularity in Australia, and it’s for all the right reasons. A retirement village is a one-of-a-kind premium living facility to provide a comfortable and luxurious environment for retirees. Moving to a retirement village seems like a highly viable option for those who tend to live the last years of life in the best possible way.
Retirement villages like Alondra Residences, Brisbane North, are purpose-built to provide high-quality living standards for older people. These villages revolve around building a safe, convenient, and state-of-the-art community for retirees. You can find all facilities like shops, restaurants, transport, leisure, etc., everything within your reach. What more could one ask for?
Closing Thoughts
We hope that this blog helps give you a better understanding of your retirement Living options and help you choose the one that’s right for you. We are more inclined towards retirement villages, but downsizing and renovation may have the upper hand when it comes to affordability and convenience. Good luck with making the right decision!
