Buying a Retirement Villa: Two Things to Consider

If you have worked hard for many years and invested in a pension or retirement fund, you will now want to look forward to enjoying the fruits of your labour. Retirement is a time when you can spend time with loved ones while also enjoying the freedom to pursue your favourite hobbies and recreational activities. If you live in a large family home, you may realise that you no longer need the extra space. Selling your property and downsizing to a villa in a retirement community is a great way of unlocking some of the value of your home so you can fund your retirement. Below is a guide to the things you should consider when considering which retirement villa is right for you:

Accessibility 

Although all retirement villas are constructed with older people in mind, not all of them offer the same level of accessibility. When viewing a potential retirement property, you should make a note of any steps which may prove difficult to traverse. You should also consider how many floors the property has. If the villa is on two levels, you need to make sure that there is an elevator or stairlift in place. While you may be able to manage to climb the stairs now, it is important to remember that you will have to live in the villa as you get older and your ability to climb stairs decreases. You should also check that the doors and hallways are wide enough for wheelchair access. If you really like a property, but it lacks some features such as stairlifts and entrance ramps, you should ask your real estate agent if you can carry out modification work once the purchase is complete.

Location

Many people who have just retired want to move closer to the ocean or into the Outback so they can escape the stress of living in a large town or city. However, while this impulse is completely understandable, it is important that you also keep in mind how easy it will be for friends and family to visit you. If you move a great distance, you may be able to enjoy a perfect view, but you what pleasure will it bring if you have no visitors to share it with? You should work out the maximum distance that your family can travel to visit and then ask your real estate agent to look for retirement villas within that radius.

For more information on retirement homes, you should contact a real estate agency today.