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Considering all options

Anthony MatteoThe West Australian
Which retirement is best for you?
Camera IconWhich retirement is best for you? Credit: Supplied?

Downsizing is a common thread when it comes to retirement living options, but what about those looking for maximum space in their next move?

West Real Estate spoke to Seniors Own Real Estate Managing Director Mike Graebner and Acacia Living Group General Manager Linda Jackson about the options available to space-seeking retirees.

Multi-generational living

Multi-generational living is fast becoming a popular option in Western Australia for a variety of reasons, including lifestyle, strengthened relationships, safety, a sharing of equity across all members of the home and a sharing around of household chores and responsibilities.

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According to Mr Graebner, a key advantage of multi-generational living comes down to financial benefits.

“Tenants save money – when they share with more adults, the mortgage repayments or rent is lower,” he said.

“Having more adults with financial assets and incomes will also increase the chances of having a loan approval.”

Mr Graebner said proximity to family and access to services and infrastructure such as shopping centres, public transport, hospitals and medical services were also important and could be well addressed in a multi-generational living situation, with family members able to help out with transport and the like.

He did warn, however, that this form of living could result in short-term constraints, such as retrofitting requirements to accommodate elderly members of the family.

Tree change/Sea change

According to Mr Graebner, a tree or sea change is another great alternative, particularly for those wanting to escape the usual hustle and bustle of the city.

“A tree change is a change of space, away from the rat race of the inland city areas, moving away to the country in a more rural or semi-rural setting, whilst a sea change refers to moving away from the city of hinterland to the coast,” he said.

Whilst ideal for those who want a change of scenery, retirees considering these options should bear in mind proximity to family, support bases and the care they need.

Mr Graebner said the promise of a carefree, idyllic lifestyle could be a strong motivator, however.

“It appeals to those not wanting to downsize as they can see this as another stage in their life,” he said.

Homecare solutions

For those who require some additional assistance but do not want to lose the familiarity of home, homecare is a great option.

According to Ms Jackson, people can often remain within their current living situation whilst receiving the care they require.

“These services are designed to help you stay in your own home and community as you get older,” she said.

“Medication support, preparation of meals, wound care, personal care and professional clinical care under the guidance of a registered nurse all help to keep your health at a manageable level.”

These in-home services are offered by a variety of different providers and can sometimes be delivered on a daily basis.

Along with this, you also get to see a familiar face and have a strong social connection with those providing the support, whilst maintaining your usual lifestyle.

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