How to Decide Where You Should Retire?

As one of Australia’s most populous cities, Sydney is becoming more inclusive for all ages. In recent years, the city has been taking more steps to appeal to the aging population looking for a place to settle. As such, you may have noticed an increase in retirement villages in Sydney and communities to promote participation in activities and create a more welcoming environment for retirees.

Retirement can be a huge transition in anyone’s life, but one way to think about it would be an opportunity to select the perfect spot to live and stay in. Choosing a retirement location is perhaps one of the most difficult decisions you have to make as you naturally want to find the best place to call home.

Many factors have to be considered in making such a big decision. Thus, if you are still contemplating the ideal location, here are some criteria that may help you think about your choice.

Think of Wants and Needs

It helps to start by making a list of your wants and needs. Retiring can be, in a way, a chance for you to visit a place you have always wanted to or do specific activities you have yet to try. Perhaps you have always wanted to live in a rural area or enjoy living in a community with nearby parks and entertainment centres. Whatever it may be, consider your wants.

At the same time, you must also consider your needs. For example, if you need personalised healthcare, retirement villages in Sydney typically offer assisted living options. With this, you can have nursing care tailored to ensure you stay healthy during your retirement.

Do Research

If you are still drawing a blank, you can research the best places to retire. Try to look up some retirement villages in Sydney if you plan to stay in one, then check out things like the weather, crime rate, access to facilities and healthcare, and other important criteria you want to include in your decision.

Assess Cost of Living

Finances will be one of the main concerns when retiring, so once you have a shortlist of locations to consider, assess the cost of living in each place. Make sure you consider both short-term and long-term plans to prevent running into problems later on. On average, the annual cost for a modern retirement and comfortable retirement is about $28,179 and $44,224, respectively. Knowing this can help you create an organised plan to ensure you can afford your expenses for the next few years.

Visit Different Locations

It can be hard to decide on the perfect retirement location if you limit yourself to your imagination. Thus, if you have the time, energy, and resources, consider visiting some of your top choices. Get to see what it is like to live there daily, so you can determine whether it is the right place for you. It is easy to overlook basic day-to-day needs most of the time, so the best way to evaluate a location is by visiting it!

Consider Family and Friends

Another important consideration would be your proximity to family and friends. Would you want to stay close to them to offer support and get help whenever necessary? If so, living in the same city or neighbourhood will be most ideal, but you can also venture out into other areas that are still within a reasonable distance.

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