August 31, 2016

Lifestyle

Retirement Lifestyle Community Living

Lifestyle communities, retirement villages, assisted living apartments, independent living apartments and lifestyle residences offer mentally active people choices of housing styles and support services.The costs and fee structures for independent and lifestyle living are diverse.Each facility determines it own fee scale and financial arrangements. Can we afford to live in a lifestyle community?

Retirement villages, assisted living apartments, independent living units and lifestyle residences offer mentally active people choices of housing styles and support services.

The costs and fee structures for independent and lifestyle living are diverse. Most facilities require new residents to “purchase” their chosen apartment or home unit and then pay a weekly “service fee”.

The level of services varies significantly. For example, a retirement village could provide a community meeting room and maintenance of communal areas with the residents being responsible for municipal rates and utility bills. The service fee for an assisted living facility could cover all meals in a gracious dining room, supply of electricity to the apartments and cleaning of individual apartments.

Each facility determines it own fee scale and financial arrangements. The weekly service fee generally covers the costs of providing the contracted services for that facility. In addition, many facilities levy some form of “exit fee” or “deferred management fee” on the “resale” of the apartment or home unit.

Can we afford to live in a lifestyle community?

A consultation with Financial Care Services could estimate your costs of living in the facility of your choice based on your financial situation. The estimated impact on any means tested Age, or Service, Pension could be considered as part of the financial aspects of changing homes.

Make an enquiry now… or call us on +61 3 9808 0338