5 Things to look for when choosing a retirement home

It’s never too early to start thinking about retirement and deciding where to live is a crucial part of the puzzle.

Arthur Case, Chief Executive Officer of Evergreen Retirement Holdings, and an expert in retirement accommodation, has this advice for choosing the right place to stay in later life.

1. When to move

Don’t wait until circumstances force you to downsize or to move out of your existing home, for example when your health starts deteriorating or you’re no longer able to look after yourself.

• If you leave the decision too long, you could be left with limited options and having to pay more than you can afford. But if you move earlier in life, you can select the retirement accommodation of your choice, and structure your finances accordingly.
• Giving yourself more time to do your homework also places you in a better position to find a place that caters for an active and engaged retirement, while also making provision for healthcare and frail care, should you require it.

2. Quality of life

You don’t have to compromise on quality of life in your later years. Surround yourself with dynamic, active and engaged people for a happy and healthy life in retirement.

• Traditional old-age homes are run on nursing-based principles but they are being overtaken by a trend towards retirement accommodation against a backdrop of resort-style facilities, superb amenities and a hospitality-based approach, as opposed to nursing.

3. Healthcare

In many countries across the globe, people are living longer and South Africa is no exception. Increased life expectancy sounds like a wonderful thing, but it comes with rising healthcare costs over time.

• None of us can predict whether we will develop health problems in later life, but it stands to reason that it’s worth planning for. So you should choose your retirement accommodation with this in mind. Find out what type of healthcare is offered by the places you’re considering, and ask about additional costs.

4. What happens when a partner dies

If you’re married, or in a relationship, you should consider what life will be like when one of you passes on.

• After living with someone for many years, it’s difficult to adapt to living alone. Everyday tasks like grocery shopping or home maintenance can become a huge headache if you’ve never had to take care of these things before.
• You could be left with a house that feels too large and cumbersome, with spiralling costs for things like maintenance and repairs, rates and taxes, safety and security, gardening and more.
• It’s easy for a surviving spouse to become lonely and isolated by living on their own because they’ve been used to having a partner for so long that they’re no longer in the habit of reaching out to people.
• Moving to a retirement village is a good way of dealing with loneliness because you’re surrounded by a community of like-minded people, who are roughly the same age as you, and have similar life experience. This includes some of them having lost a life partner which means you’ll be supported during a difficult time.
• Living in a retirement village means not having to worry about things like maintenance, gardening and security.
• Choosing a retirement village where there is a combination of homes and apartments is another good plan because it could give you the option of scaling down when one partner dies.

5. Financial security

Plan well to buffer against financial headwinds in later life.

• Make sure that you get good financial advice and remember that inflation can cause a major shortfall in terms of maintaining the lifestyle you’ve become accustomed to.

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