Why investing in an integrated retirement village is beneficial.

With retirees expected to make up about 25 percent of the world population by 2030, it is clear that demand far outstrips supply and that retirement villages are not being developed at a fast enough rate to meet future demand. Many retirees have spent five or ten years thinking about a move, but have been held back by the lack of options and availability.

Developers know that retirement village developments are aimed at a niche market and most don’t consider the reasons why some of these developments fail. This contributes to less interest in developing villages for retirees.

Mainstream retirement developments are not structured around an integrated model with a ‘continuum of care’ as blueprint, but simply supply services for selected stages of ‘continuum of care’. Traditional developments lack vital components and amenities and often do not meet the expectations and health, wellness and leisure needs of retirees who buy into these developments.

There are different types of retirement facilities, from apartment complexes to separate houses, which range in cost and the services provided:

Senior apartment housing or Old age homes: These are apartment complexes restricted by age, usually 55 or 60 and older. Rent may include services such as recreational programs, transportation services, and meals served in a communal dining room.

Retirement homes or communities: Retirement communities are groups of housing units restricted for those over a certain age, often 55 or 60 and older. These housing units can be single-family homes, duplexes, townhouses, or condominiums. Additional monthly fees may cover services such as outside maintenance, recreation centers or clubhouses.

Integrated Retirement Villages: These facilities offer a full spectrum of care from independent living to nursing home care and frail care in the same community. If residents begin to need help with activities of daily living, for example, they can transfer from independent living to an assisted living or skilled nursing facility on the same site. The main benefit is that they only need to relocate once to a new environment and can maintain their independence for as long as possible.

Integrated Retirement Villages make sense, as there are aged-care facilities on site, which provide residents with peace of mind. With the cost of hospitalization and the shortage of beds in hospitals, hospitalization is not considered a viable option when residents need advanced assisted living options.

With the development of Integrated Retirement Villages and the variety of serviced offered, retirees need not be anxious about considering their unique situations in order to help them decide about where to move, as these villages are built around the various needs and requirements of most retirees.

For any retirement development to succeed, it constitutes providing peace of mind for residents, in terms of legal, financial and aged care services provided.

The Benchmark Group aim to achieve this, and more.

A member of the Benchmark Group