Breaking the Mould: Exploring Affordable and Fairer Retirement Living Options in Australia

As the Australian population ages, the demand for diverse and affordable retirement living options has grown. In response, a variety of new retirement living options have emerged to meet the needs and preferences of seniors, moving beyond the traditional retirement village model.

Most seniors would not be aware there are now 13 different types of retirement living options available in Australia, each offering unique benefits and advantages for seniors. These options include rent-to-buy villages which overcome the need for upfront capital, co-living communities, land lease communities, affordable rental housing, and more.

One of the most popular new options is the land lease community, which allows seniors to own their home while leasing the land the home it sits on, Co-living communities and Community Apartment Projects (CAPs) are also becoming popular, offering shared living spaces and communal facilities for a more social and community-oriented lifestyle access to care and support service and also overcome the major concern to seniors being of loss of capital through exit fees.

These new, innovative and affordable retirement living options offering greater flexibility and choice for seniors, allowing them to choose a living arrangement that meets their personalized and individual needs. As this shift continues it is likely that we will see even more innovative and exciting retirement living options emerge in the years to come.

If you would like to understand more about these new emerging models, Compare Communities offers Australia’s No 1. 100% unbiased retirement village comparison service, helping you compare, select and save thousands. Call 1300 190 547 today to find out more.