Things to consider before buying a retirement property

Your children are all grown up and moved away into their own homes, and you are left alone in a big house all by yourself. Many retirees prefer to move into a retirement village or a smaller house once their children move away, as it is much easier to maintain, and they can live their lives in a peaceful environment, enjoying the things they love to do most. This is why many aged parents look for a low price house for sale in Sri Lanka where they can retire to.

Many real estate companies in Sri Lanka and real estate developers are now looking into investing in retirement villages, buying large plots of land for sale in quiet serene locations and developing them, where people can choose to buy a home and live out the rest of their lives. Prime Lands is one of the leading real estate developers in Sri Lanka, and their Prime housing projects, located in some of the best locations around the island, make the ideal choice for retirement villas, for those looking to sell their family home and settle down in a quieter environment.

When choosing a retirement villa or home, what should you consider? Here are some tips.

·       The location: The location where your villa or home is situated at is very important. Retirees should move into a serene, peaceful environment, away from the hustle and bustle of every day life, while still having the important amenities like shopping centres, public transportation etc in close proximity.

·       The accommodation: Consider what facilities the house has to offer, such as easy access, suitable floorplan, wheelchair access (if required), proper ventilation, equipment offered, garden space (many retirees like maintaining a garden as a hobby) etc.

·       A sense of security: The elderly may need special care and attention as time goes by, and many retirement villages have medical facilities, nursing care, emergency phone lines etc in addition to general security which is offered. These facilities are able to cater to the changing needs of the elderly as and when they require it.

·       Facilities: Retirees want to live a life of leisure and relaxation, and as such, the retirement village should offer facilities for the same. Swimming pool, walking paths, gardens and even supervised gymnasiums are highly sought-after facilities.

·       Atmosphere: The atmosphere of a retirement village should be up-beat and pleasant, and not dreary and dull. Those that retire to such homes have been working all their lives, and now they want to live it up and enjoy their time. Hence you should make sure that before you choose a place it really appeals to you.

·       Cost: Consider the cost of the retirement home, because you don’t want to spend all your hard-earned savings on it and have nothing to live with. In addition, if you are buying a retirement villa on mortgage, make sure you have the capability of making the monthly payments, and check for how long you will need to keep paying.

·       Service fees: Check whether there are any additional monthly service fees which you need to pay, and how much these are.

Retiring into a smaller home or villa within a retirement village is one of the best choices to make when you are at a certain age. You get to live among like-minded similar aged people, in a relaxed environment, making new friends and taking part in activities that you love the most.