Retirement Planning
2 minute read

Affordable Retirement Living in Melbourne

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Affordable Retirement and Over 55 living

Retirement living can be a daunting prospect for many, especially with the rising cost of living in Australia and healthcare expenses increasing for Over 55s. However, there are now a variety of options available for downsizers that provide affordable and comfortable living options. One such option is moving to a smaller home or apartment, a retirement village or to a Lifestyle Community.

Downsizing to a smaller home or apartment can save Over 55s & retirees a significant amount of money in the long run. Not only do smaller homes and apartments tend to be less expensive to purchase or rent, but they also have lower maintenance and utility costs.

Additionally, retirees who choose to downsize may be able to free up equity from their current home, which can be used to supplement their retirement income.

Retirement & Lifestyle villages are another popular option for retirees looking for affordable over 55 housing options in Victoria. Retirement villages and Lifestyle Community's are small & gated communities specifically designed for older adults and often include amenities such as swimming pools, fitness centres, and community rooms.

Benefits of affordable over 50s downsizing to Lifestyle Communities®

One of the main benefits of downsizing is the sense of community and the large number of social opportunities. Many villages or communities have a variety of activities and events, such as book clubs and organised trips, which helps downsizers & retirees stay active and engaged.

These benefits can be especially appealing for retirees and Over 60s who are single, have lost a spouse or are living alone. The social side of community life, mixed with the safety and security continue to be one of the leading reasons people are choosing Lifestyle Villages & Communities.

Another affordable option for retirees is build-to-rent properties. Build-to-rent properties are rental apartments that are owned and managed by a single entity, such as a developer or institutional investor. They offer a range of benefits such as flexible lease arrangements, a variety of included amenities, and the potential for affordable housing. They are designed to attract and keep tenants, unlike traditional rental apartments.

There are also other affordable over 55 housing options available for retirees in Melbourne such as tiny homes. Tiny homes are small, typically under 15 square metres, that can be placed on a piece of land or in a community. These homes are typically less expensive to purchase or rent than traditional homes and have lower maintenance costs. They are typically the size of a hotel room and more often than not, moveable, having been built on trailers.

In conclusion, there are a variety of options available for retirees looking for affordable living options. Downsizing to a smaller home or apartment, retirement villages, build-to-rent properties and tiny homes are all options that retirees can consider. Each of these options has its own unique benefits so Over 55s and retirees should carefully consider their needs and preferences before deciding.

At Lifestyle Communities®, we're here to help you make the best decision for you. If you feel thats one of our communities and over 55s homes for sale, well that would be wonderful. Give us a call on 1300 50 55 60 for more information or feel free to drop into a community near you any time. We'd love to help you with any support we can offer for your next step.