2 minute read
Reshaping retirement
EXPANDED SERVICE OFFERINGS AND FLEXIBLE PRICING MODELS MEAN MORE FREEDOM
Amid an ageing population with increasing and diverse care needs, an expanding range of service offerings are emerging to meet current and future resident preferences. No longer does the traditional one-size-fits-all approach meet retirement living and aged care expectations, and innovative providers are introducing a slew of new services and business models in response. Queensland aged care and retirement living provider, Lutheran Services, is one example of a provider that is adapting to the changing landscape with co-located living options and their industry-leading flexible pricing model, youfirst.
With population growth among the 65-plus cohort, co-located retirement living and residential aged care options provide peace of mind and give savvy retirees an expanded range of accommodation options to suit their care needs and lifestyle choices.
Moving into retirement living and aged care can be a daunting decision. Lutheran Services General Manager – Supported Living Aged Care, Maddison Jones, said co-located living allows seniors to plan for increased care needs, making the transition to senior living smoother. Seven sites at Queensland’s Lutheran Services offer co-located retirementandagedcareaccommodationtomeetdifferentneeds. “There are no downsides to a co-located village for senior residents,” says Maddison. “Co-located living gives the peace of mind that should you or your partner’s care needs change as you grow older, you do not have to leave your community and your home.” “Many of our residents are forward planners and want to know that as their care needs change, assistance is there for them,” Ms Jones added.
Reinventing the standard fixed-price approach to retirement living
Shifting dynamics in pricing models in retirement living is also giving greater freedom to seniors when it comes to purchasing their new home. Lutheran Services’ youfirst flexible pricing model reinvents the standard fixed-price approach and allows residents to fund their retirement to suit their specific lifestyle, priorities and budget. Senior residents at all 10 of Lutheran Services retirement living sites have the option to pay less when moving in, and defer some of the cost until it is time to re-sell or vice versa—offering retirees more flexibility and choice. “With years of industry experience delivering people-first care and accommodation, we know that flexibility puts the power back in the hands of our clients and enables them the freedom to live their best lives,” said Maddison. “youfirst gives people the ability to pay less than the listed price by deferring part of the costs until vacating—meaning our residents can decide to keep some cash in the bank to fund ‘special moments’ in life such as a holiday, or alternatively, pay more up-front and with the opportunity to protect their pension. “More than 60 per cent of buyers are opting to take advantage of the flexible pricing, enjoying the certainty and flexibility to plan their retirement with their families and independent financial advisors.”
Flexibility has been a big selling point at Lutheran Services’ newest retirement living community, Alondra Residences. Alondra Residences features 52 generously sized apartments over seven levels at Nundah on Brisbane’s northside.
Alondra Sales Manager, Candace McGregor, said the majority of Alondra residents had taken up youfirst. “My favorite comment from one resident was, ‘now I can afford to drink the good wine for the rest of my life’, while another couple hitched a caravan to their new 4WD to take on long trips around Australia,” said Candace.
