As the needs of retirees change, retirement estates are growing in popularity.
There are many reasons for this growth, says Garry Read, managing director at Evergreen Lifestyle Villages.
Ten key advantages to living out one’s golden years in such developments, particularly in a village based on the life rights model, include
Convenience
This system allows retirees to live in units, and use the village’s facilities for the rest of their lives, in exchange for a capital investment to the complex’s owner, who is responsible for maintaining your home, the village and all amenities. This means you enjoy all the benefits of home-ownership with none of the hassles.
Independent living
Today’s young-at-heart pensioners are looking for set-ups with the same facilities as gated estates. This allows them to live independently as long as they want but with healthcare assistance nearby.
Healthcare
Quality healthcare facilities is a priority for retirees.
“Many retirement villages offer on-site emergency, primary and personalised home-based healthcare services as well as 24-hour nursing, frail care and dementia care,” says Read.
Safety and security
Concern about security is driving retirees into security retirement villages. Most estates have electric fences, perimeter walls and monitored CCTV cameras.
Easy on the wallet
Living in a life rights retirement village makes financial sense. Besides not being responsible for maintenance costs, units in some villages feature solar panels, solar geysers, LED lighting and water tanks - practices saving residents a lot on their monthly levies
Superior lifestyle
Today’s retirees want to be active in a safe environment.
“In Evergreen Noordhoek, for instance, tennis courts and a bowling green are in the pipeline, while the Val de Vie village has mountain trails and fishing spots along a 7km stretch of the Berg River.”
Other features include the village’s lifestyle centre, which features dining rooms, bars, bistros, and a library.
Sense of community
Most retirees who move into a retirement village are seeking a sense of community. Residents get together through book clubs, bridge evenings, excursions, wine tastings, dance lessons and film nights.
Space for nature
Modern retirement villages tend to have beautiful surroundings.
“Take Evergreen Muizenberg, where the third phase is now on show. The village is enveloped by an indigenous garden with benches and walking areas, allowing residents to recharge in nature. Evergreen Lake Michelle in the Noordhoek Valley has a wetland area at its heart, teeming with indigenous plants, wildlife and 120 bird species.
The village planned for Hilton will have a neighbouring giraffe reserve open to residents.”
Work from home
Just because people do not have to work any longer does not mean they have to stop working, Read says.
“The 2019 Old Mutual Savings Monitor suggests that 36% of retirees started a business after turning 65 while 13% continued to be self-employed. Today’s retirement villages have a strong technology backbone, including high-speed internet. This allows residents to continue or kick-start their part-time consulting or freelance business from home.”
Flexibility
Retirement villages offer a level of flexibility the family home does not, Read says. This puts residents in a position to downsize from a standalone home to an apartment in the same village, when the situation warrants it, or even to a smaller unit.