Is living in a retirement village or retirement home bett... This depends entirely on your outlook and strength of desire for independence. Most retirees choosing to move into a ...
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The following advice is of a general nature only and intended as a broad guide. The advice should not be regarded as legal, financial or real estate advice. You should make your own inquiries and obtain independent professional advice tailored to your specific circumstances before making any legal, financial or real estate decisions. Click here for full Terms of Use.

Can I take my pet with me if I move into a retirement home or village?

Companion animals are of enormous value in our senior years and the good news is that some retirement villages and retirement homes share your enthusiasm for pets.
  • Check the individual village’s pets policy
  • The type of pet, its size and temperament are likely to be factors considered in the village’s policy
  • Villages where homes are well-spaced are more likely to allow pets
  • However, some villages don’t allow ‘replacement pets’ in the event that your pet passes away

Can I buy a retirement property using my Super?

Many Australians are now buying investment property using their Self Managed Super Fund (SMSF) but it’s important to get professional financial advice.
  • The property you buy must be held in a ‘warrant trust’, ‘bare trust’, ‘special trust’ or ‘purchasing trust’
  • You cannot directly benefit from any retirement property you buy using your SMSF before your retirement, under current legislation

What is the difference between assisted living retirement homes and independent retirement living?

Assisted living commonly refers to having nursing staff on hand within the retirement living premises to help retirees.

Their responsibilities often include cooking meals, washing, cleaning and after hours care. Independent retirement living in villages and homes do not offer nursing staff but rather administrative services.

Retirees should consider assisted living when:
  • You’re having difficulty managing daily routines such as cooking, housework and moving
  • You’ve received medical advice concerning your health
  • Your partner requires increased supervision that you cannot provide.

I want a Sea Change/Tree Change. Where’s best?

Some of the more popular lifestyle change locations around Australia are:

Victoria – Golden Beach, Geelong, Ninety Mile Beach, Gippsland, Lakes Entrance, Phillip Island, Mornington Peninsula, Warrnabool
NSW – Gerringong, Wollongong, Newcastle, Hunter Valley, Mudgee, Coffs Harbour, Mullumbimby, Murwillumbah, Kyogle and Casino, Nelson Bay, Ballina
SA – Middleton, Naracoorte, Limestone Coast, Adelaide Hills, Fleurieu Peninsula, Seaford
WA – Binningup, Bunbury, Margaret River, Mandurah, Geraldton
QLD – Tannum Sands, Cairns, Caloundra, Sunshine Coast, Gold Coast
Tas – Low Head, Penguin, Hobart, Huon Valley

Will a Sea Change/Tree Change improve my life?

If you’ve handled change well in the past, a major change can enrich your lifestyle. However:
  • It does not necessarily guarantee a calmer, more happy existence
  • It’s more likely to be a happy move if you’ll have a support network in the new location
  • If you’ll miss family and big city access to medical services, convenience stores, take away food outlets and restaurants, you may not like the change
  • It’s vital that the climate of your new location suits your health disposition

When should I sell my current home?

For most of us, this is one of the toughest questions. Before selling to move to a retirement village or retirement homes, make sure you’ve considered all the alternatives and you’re convinced it’s the right move for you. The reasons you might decide to sell are:
  • You don’t need as much space as you used to and a smaller home would be easier to maintain
  • You need more cash for day-to-day expenses and most of your wealth is locked up in your home
  • You feel your home may sell for more now than it might next year. You could consider selling now and renting until retirement
  • You’ve properly prepared your home for sale and it is presented at its best. Check out our resources area for more tips on ‘Preparing your home for sale’.
  • You’ve consulted a few real estate agents and a financial advisor. You’re comfortable that you’ll achieve a price that will help you achieve your financial goal

Does auction or private sale get the best price?

Both methods of sale have their merits so it is important you discuss which is best for you and your property with a First National Real Estate agent. We’ll help work out what’s best for you but here are a few tips:
  • Auction allows the competitive nature of buyers to set the price for your home but your agent needs to be confident your property will attract more than one interested party during the marketing period
  • Auction allows a higher price than you anticipate to be achieved, if two buyers really desire your home
  • With Private Sale, you must determine an appropriate asking price but negotiations with buyers are typically in one direction – downwards
  • If you set too low a price with Private Sale, it is unlikely you’ll achieve your property’s full market value
  • If you set too high a price with Private Sale, your home is unlikely to attract any offers and will remain on the market for a lengthy period. Potential buyers become suspicious about why nobody else seems to want to buy your property and this makes them less willing to pay fair market value
  • Auction is ideal if your property is unique and therefore difficult to put a value on, or if you need to sell as quickly as possible.

If I lease or rent real estate, do I lose my pension?

A complex range of factors affects your pension so it’s important to speak to Centrelink for detailed advice.
  • Your pension and/or rent assistance situation might be affected if, by leasing, your assets increase.
  • Centrelink will assess your personal financial circumstances. Contact Centrelink

What are the impacts of early retirement?

Most people dream of an early retirement but if you’re not lucky enough to win a lottery ticket or have a substantial financial windfall, it is important to assess the positive and negative impacts of an early retirement.
  • Will your superannuation be sufficient to meet your financial needs?
  • Do you have travel plans, hobbies or part time activities to maintain your interest?
  • Have you discussed the implications of early retirement with your family?

How do I apply for a rental property?

By completing a Tenancy Application form. Information your agent will be looking for includes, but is not restricted to:
  • Proof of your previous addresses including rental history
  • Proof of current and previous employment history
  • How many people intend to lease the property with you
  • The date you wish to move in and length of tenancy
  • Proof of identity (copies of photo identification)
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