‘Buying’ into a retirement village can be a great option for those who are wanting to maintain their independence while living among a like-minded community. Yet it’s not the only choice – there are myriad other living options to suit all lifestyles.
Staying where you are There is benefit in staying in a place where you are known, especially if you have the support of people who are important to you and/or those in your community. Equipment and/or adaptations to the home can make it safer and easier for you to live there.
Downsizing If your home is no longer suitable due to location, stairs or a section that is now too big, moving to a smaller place may be the answer. For the homeowner, this may present an opportunity to release equity to improve their lifestyle. Downsizing doesn’t always give the gains you might expect, so investigate fully and do the sums.
Moving to an ownership flat or 60s plus unit This option usually has the advantage of being easily maintained. Over-60s units offer cluster-type housing where owners have unit title and belong to a body corporate. Check for annual costs such as rates, insurance and body corporate levies.
Sharing accommodation This is a flatting-type option where expenses and household tasks are generally shared. It can appeal to friends or siblings, although some people may also take in boarders. Clear house rules are important for the success of this option. Ownership structures can vary.
Private rental While many older people own their own home, an increasing number now rent. Age-appropriate design and good landlord/tenant relationships are important factors to consider. For advice and market rent rates see the government’s Tenancy Services website www.tenancy.govt.nz or freephone 0800 836 262.
Moving in with family/whānau This option works well for those where the family/whānau and older person are respectful of each other and have clear, open communication.
Supported living/boarding These are often family/whānau style homes such as an Abbeyfield home. Residents are independent and have their own room/ unit, often with shared communal areas. There may be help with some tasks, such as housework or meals. Board or a weekly rental usually applies.
Updated: 16 Sep 2022