Four retirement village residents sitting around

Village residents worry less about cost of living

Monday, 18 November 2024

Cost of living is a hot topic for all Aussies right now, but our 2024 Keyton Retirement Living Lifestyle Report reveals a refreshing twist: retirees in our communities are far less stressed about these pressures than most.

This year, we asked 4,500 Australians aged 55 and over about their concerns, interests and everything that keeps them feeling active, happy and connected. Take a look at a few insights from the report:

59% of Aussie over-55s say they worry about the cost of living more now than they did in 2021.
More than half of retirees living in a retirement village are less likely to be concerned about the cost of living.
54% of retirement village residents found the cost of entry lower than expected, while 44% say they wish they’d moved in sooner.
Nearly a third of over 55s are still in the workforce with 18% volunteering and 12% working in paid roles, while village residents are more likely to volunteer, with 30% giving back compared to just 17% of non residents.

With predictable expenses, secure ownership options and a supportive community, it’s easy to see why so many retirees who call a retirement village home feel less stressed about rising living costs. Here’s a look at what’s driving this sense of financial ease:

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Retirement village costs

Keyton offers transparent contract options, including Prepaid Plans, Refundable Contributions and Deferred Management Fee contracts. These flexible choices make it easy to find a plan that fits your lifestyle and goals. Explore contract types and make a confident choice for you.

Monthly service fees

Living in a retirement village comes with ongoing service fees to cover the day to day running of the community, including maintaining amenities and common areas. Knowing these fees upfront is a crucial part of planning for your dream retirement lifestyle. Learn more about our fees.

Two retirement village residents playing lawn bowl

Ownership of your home

When you buy into a Keyton Retirement Village, we generally own the land and homes, but don’t worry, you’ll still get full possession of your place. The type of ownership, whether it’s a lease, purple title or strata title, depends on your village and location - explore your options.

Retirement planning

Planning for retirement might feel overwhelming, but setting clear financial goals and understanding your income sources makes a world of difference. With more people living well into their 80s and beyond, ensuring your retirement income stretches for 20 years or more is key to a happy and secure future. Check out our handy resources for planning for retirement.

Working in retirement

Our report found that nearly a third of over-55s are still working, either volunteering (18%) or in paid roles (12%). Interestingly, retirement village residents are more likely to volunteer, with 30% getting involved compared to 17% of non-residents.

Read more: 5 benefits of volunteering

Whether you’re looking to work part-time, start a small business, or use your skills to support a cause you care about, village living makes it easy to stay active, connected and involved.

For a little inspiration, read our blog on the rise of the ‘seniorpreneur’.

A male with glasses working in a wood workshop

Selling your home

When it’s time to move on, selling your retirement home is like the traditional property market, but costs will depend on your contract. Your agreement will outline your exit entitlement, moving out fees and any ongoing service fees. Plus, some contracts even offer a stress-free exit with a guaranteed buy back.* Get the lowdown on selling costs.

_{*Available for certain contract types only.}

The 2024 Keyton Retirement Living Lifestyle Report

Want to learn more?

Read the full report

For more information about the lifestyle and support offered at our retirement villages, call our customer service team on 1800 550 550 or send us an email here.

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