Golden Years in Style

March 10, 2019
Business, Property

Retirement years are golden for many reasons – one of them being the improved lifestyle that has become the norm for modern retirees.

Lifestyles have changed dramatically in terms of how people want to live out their golden years and this has affected the way in which retirement villages are being designed and developed. As the baby boomer generation moves into their retirement years, it is clear that they are much different to their predecessors – so much so that they’ve altered the entire retirement industry model. They tend to retire later, but move into lifestyle villages earlier where facilities are far more holistic, but still retain independence for residents.

People typically look to downsize a family home when it becomes a burden to maintain. Moving earlier reduces unnecessary costs and ensures enhanced quality of life moving into those golden years. People not only book space in retirement estates, they also move in between the age of 50 and 60. They downsize their homes while continuing to work in some capacity for as long as they can. Many people use skills they’ve honed over the years to operate their own small businesses; others take on consulting or freelance work to fund their lifestyles for longer and stretch their retirement savings. Lifestyle village developments offer an independent lifestyle with additional benefits to take care of elderly residents when necessary.

Nationally, there is a rapid expansion in these developments. According to Arthur Case, the CEO of Evergreen Lifestyle, a typical old-age home no longer meets the needs of modern retirees. “Today retirees want a varied type of lifestyle that includes travel, cultural and intellectual stimulation along with sporting activities. Many retirees are still working in some capacity, so they want to be active and entertained,” he explains. In response, multi-generational estates, eco-friendly amenities and lifestyle villages have emerged, revolving around a range of activities in a vibrant community setting.