As you age, your options for a viable life drastically change. What you thought would work for you for the rest of your life suddenly stops making sense. This is because whether you agree to it or not, you would need a little bit of assistance to enjoy a quality living in your elderly years. This is when the terms such as retirement home come into the picture.
However, in today’s time, it is modernised and is more like assisting living with full independence. All this can make you wonder what the criteria that make up the definition of a retirement home are. Well, if that’s your question, then you are just at the right place as ahead is everything you need to know about the same.
What Is A Retirement Home?
The title “retirement home” is self-explanatory; it clearly points out to the elderly people in your society. However, before digging deeper into it, you should know the terminology which is often used to refer to retirement homes.
Today they are known as ‘retirement communities’ or ‘retirement villages.’ A retirement village is a legal term used under Victorian law in Australia. This new terminology was introduced to dwindle the past stigma of such facilities. If you are looking for a retirement home in Australia, then you should try out Centennial Living – Best Retirement Villages.
All these terms are also interchangeably used with ‘assisted living’. This term is perfectly defined as it puts emphasis on living independently with little assistance from a professional community. It is a community that can help manage the day-to-day chores and needs of the elderly residents in a retirement home.
What Are The 3 Criteria That Make Up The Definition Of A Retirement Home?
There are mainly 3 criteria that need to be fulfilled to make up the definition of a retirement home in Australia. Also, know that in Australia, they are referred to as retirement villages. So the information provided below is based on the Retirement Villages Act 1986:
Age Requirement
The main thing is that these retirement villages came into existence to assist the elderly in having a better lifestyle. Thus, the age of the residents should be 55 years or more. People who are retired from their full-time employment also come under this category.
Accommodation And Services
Accommodation and services provided in retirement villages are more extended as compared to other residential care or aged care communities.
Contractual Condition
As a contractual condition, one of the residents needs to make an entry payment. It is practised where a leasehold arrangement is made. In this arrangement, an ingoing contribution is required.
Conclusion
Clearly, there are many benefits of a retirement home. If you are growing old and exploring your options to spend fulfilling days in your old age, then you should start doing some digging. Finding the right retirement home or retirement care facility is certainly not an easy task.
