You’re not alone if you don’t want to move into an aged care facility. Residential aged care and nursing homes are not on top of Australians’ retirement priority list. They prefer to live out their retirement through in-home care.
Studies have found that Australians lean towards remaining in their own home as they grow old. Worldwide, 70% of respondents said it’s either ‘very’ or ‘extremely’ vital for them to stay in their own home in their retirement years.
Why do retirees want to remain at home?
For years, a family home has witnessed milestones and events in one’s life. It’s walls contain so many memories that’s why it’s not at all surprising if you want to spend your dream retirement at home. Although, there are things for consideration. Such as if the home is suitable for retirement and if in-home care is accessible as needed.
Many retired Australians who live in their own home have a positive view of their lives. They feel healthy, still physically fit, and free to spend their time as they wish to. They seem to be able to take care of themselves.
Seniors usually engage in various activities, which include exercising, pursuing leisurely and recreational interests, and spending quality time with family and friends. They also spend time volunteering in community activities, while others travel, and a small percentage continue to work as paid employees.
The notions on residential aged care
In general, life in residential aged care is not positively perceived. Although residents have access to medical care in a safe and well-maintained environment, there’s a thinking that they’re oftentimes lonely and don’t have control over their lives.
Some of the commonly raised questions are whether there are enough activities for residents, do these activities provide them the help they need, are they respected at the facility, among others.
In-home care lets seniors control and choose their lifestyle. Should they ever need support, it can be done with minor modifications in the privacy and comfort of their home.
In the current aged care system, support is mainly provided by paid help through non-profit and Government organisations. However, paid help through aged care service providers may be considered for higher-level assistance. This may include going to the bathroom, dressing up, eating, and nursing care.
Funding your In-home care
It all comes down to funds. There’s a long waiting list (an average waiting of 18-24 months) for government-funded care packages where more acute care is needed. According to the federal government, there are thousands of people waiting for a home care package at their approved level.
With Australian senior homeowners, there’s a resource waiting to be tapped to fund in-home care. ASAG provides help in accessing the value of your homes through Reverse Mortgage. With this solution, you retain ownership while utilising your home equity to finance in-home care or other retirement expenses.
From having your family and friends over to pottering in the garden, there’s nothing quite like ageing at home. ASAG Reverse Mortgage can help you afford these and the life you deserve while staying in your family home for as long as you want.
If you liked our “The Reasons Australian Seniors Prefer In-Home Care” and found it useful, check this space regularly for more updates and valuable information on equity releases and reverse mortgages.