This story by Monash University economic lecturer Rebecca Valenzuela on older Australians refusing to sell the family home and downsize to a smaller property caught our eye this week.
She says the real reason retirees hold onto their homes isn’t about the money – it’s about time.
The article quotes figures from the last Australian Time Use Survey which showed that people aged 65-74 spend more time cooking, cleaning, doing the laundry, sewing and gardening than those aged 55-64. They also increased their time spent looking after grandchildren.
These tasks need space – giving them more incentive to stay at home. In short, big homes with pretty gardens are the perfect base for retirees to entertain family and friends.
But many retirement villages and land lease communities do fit this bill.
Room to move
Modern village homes usually have two or three large bedrooms and spacious living and entertaining areas – ideal for catering for a crowd – plus all the age-friendly design features you will need as you get older.
Take Stockland’s award-winning The Residences at Cardinal Freeman. Its apartments range from two to three bedrooms, all with open-plan layouts, wide hallways and large balconies – but with the bonus of being able to lock up your unit and leave, knowing your home is safe.
For those who like to get their hands dirty, the village has its own community vegetable garden.
It’s also family-friendly with space for guests to park and stay when they come to visit.
Villages and land lease communities also provide a community for those of us who may not have family or friends living nearby – and want to find a way to spend our ‘time’ when we retire.
My best friend’s grandmother moved into a retirement village last year – aged 87 – after losing several friends and finding it hard to maintain her large home – and she’s always on her way out to visit someone. And no issues with having enough ‘space’ for entertaining.
For more advice on downsizing to a village or land lease community, check out villages.com.au.
