In most cases your home plays a major role in retirement and not just as a safe haven.
|Is it right for your retirement?|
The home in which you raised a family may not be ideal as you get older. However, that doesn’t mean you have to move.
As you weigh up your options you may like to examine the following:
In the end this is a very personal decision. But you can find more information to help you make it at the FaHCSIA seniors page with a specific section called Accommodation Choices for Older Australians: Keeping your family home and independence.
You may also want to visit Aged Care Australia for tips on home modifications and maintenance.
|Choosing a retirement village|
Buying a retirement apartment or villa isn’t so much buying real estate as buying a new lifestyle.
Think about your needs, especially your health and other special needs when deciding on your village and it’s location.
For more information on your options the Federal Government produces a helpful booklet called Accommodation Choices for Older Australians and Their Families. You can obtain a copy from Centrelink or by calling 1800 050 009.
If you’re on a pension it’s possible you may find it difficult to manage your rent. There is help available.
Public and community housing - the government and community groups offer limited access to cheaper housing. There’s an assets test and usually a waiting list. Contact the Department of Families, Housing, Community Services and Indigenous Affairs via FaHCSIA.
Rent assistance - contact Centrelink retirement services on 13 23 00 to see if you qualify.
|How we can help|
Decisions about what to do with the family home can be emotional, but the more help you have to sort through the financial implications then the easier they can become.
ANZ Financial Planners are representatives of Australia and New Zealand Banking Group Limited, ABN 11 005 357 522, the holder of an Australian Financial Services licence.
* Money magazine Home Lender of the Year Award 2010, 2008, 2007, 2006 and 2005, and AFR Smart Investor Magazine Home Lender of the Year Award 2005, 2004, 2002, 2001, 2000 and 1999. Australian Lending Awards, Mortgage Lender of the Year 2011 and Best Investor Lender 2011. The Australian Lending Awards is an independent initiative of The Adviser and specialist research and advisory firm RFI.
® A-Z Review is a registered trademark of Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522.
The information provided is general information only and does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you. Before making any decision to acquire, hold or sell any financial product, ANZ strongly recommends that you seek financial planning and/or tax advice and read the relevant Product Disclosure Statement and/or Terms and Conditions.