For Centrelink, a ‘granny flat agreement’ starts when an Age Pensioner transfers assets to another person in exchange for future accommodation. ‘Granny flat accommodation’ comes in various forms: from a self-contained building; an apartment in a larger building; or simply the spare bedroom of a family home with use of the family bathroom. A formal, […]
Many people look forward to moving to an idyllic retirement spot, others to build or renovate their dream home. Much planning goes into their new home, but sometimes a few things are overlooked.
Downsizing into an apartment or independent living unit is an attractive option for many retirees. And it may mean having cash to spend on travel and lifestyle. Or to escape monthly mortgage payments.
‘We’ve got a mortgage, it’s small, but we don’t know how to pay it out.’ That’s what a recently-retired client couple told me, and asked, ‘What can we do?’
Jill Weeks, the co-author of Where to Retire in Australia talks about how to work out where to retire. Long involved in the retirement industry, she’s researched and understands what’s involved in this decision. She has also written 21 Ways to Retire, co-authored Retire Bizzi and is a regular contributor to ABC radio.
Would you, should you retire interstate? In Australia, it seemed that in the 1970s there were many ‘southerners’ (particularly from Victoria) travelling up the Newell Highway in record numbers to live in Queensland. Now Tasmania may become the ‘Florida’ of Australia. The Apple Isle is likely to attract many who want to retire there.
Have you thought about moving to a peaceful tourist area in your retirement? Or perhaps you’re looking for a place that is busy and welcomes tourists throughout the year. It’s a good idea to think about the advantages and disadvantages of moving to a tourist area.
Moving at any stage of life can be challenging. There’s so much to think about and do. That includes making lists, advising people, institutions, and companies of your new address, and wondering what to keep, what to donate and what to throw away.
Statistics can give an indication of what an area is like in terms of a median age. But there’s nothing like going and researching an area well before retirement to see if it appeals.
The choice of where to live in retirement is important. So is getting it right the first time because it can be costly to sell up and move again if you make the wrong decision.