Moving while it’s a choice: planning your later-life home early

In your 50s, 60s and early 70s, where you’ll live later can feel like a problem for future you. You’re busy, you’re well enough, and the house works. Why think about it now?

Because this is usually when you have the most choice. You have the energy to sort, pack and settle in. You can take your time, sell when it suits you and look at places further afield. You can make friends and build a life somewhere new while you’re well enough to enjoy it.

Health doesn’t always change slowly. A fall, a stroke, a diagnosis or the loss of a partner can change everything in a week. When that happens, choices narrow fast and decisions get made in a hurry, sometimes by other people.

Some later-life options have rules about who can move in. Many land-lease communities and retirement villages have a minimum age, and many are set up for people who can live on their own when they arrive. Some seniors rentals have age or income rules too.

So if you wait until you need a lot of daily care, some of those options may no longer suit you, and you could be choosing from a much shorter list.

Moving early also gives you time to settle. Meeting the neighbours, joining in and finding a new GP are all easier when you’re well. Here’s the kindly blunt bit: plenty of people say “we’ll move when we need to”. By the time they need to, moving is much harder.

There’s no single right answer. These are the six broad paths people take. Each has its own costs, contracts and trade-offs, so look into the detail before you commit to anything.

• Staying at home with support: keep your home and bring help in as you need it, like cleaning, gardening, home changes or nursing. This is a full answer in its own right, not a fallback.
• Downsizing: selling and buying or renting somewhere smaller and easier to look after, often closer to shops, transport or family.
• Land-lease communities: you own your home but lease the land it sits on, usually paying an ongoing site fee, in a community with shared facilities.
• Retirement villages: you move into a village under a contract that can include fees when you leave. Contracts vary a lot, so get legal advice before you sign.
• Seniors rentals: renting a home designed for older people, from private landlords or community and social housing providers.
• Aged care homes: for when you need care around the clock that can’t be provided at home.

Grab a notebook. These questions don’t have right answers, but answering them honestly will tell you a lot. If you have a partner, answer them separately first, then compare notes.

Be honest. This is where people tell themselves “it’s fine” when part of them knows it won’t be for long. If an answer makes you squirm, that’s probably the one worth looking at.

• Five years from now: where do I want to be living? Could I still manage this house, this yard and these stairs?
• Who does what at home: if my partner or I couldn’t do our usual jobs, like the cooking, the driving or the yard, who would?
• Help I already get: am I leaning on family, friends or neighbours more than I admit?
• Money: what is my home worth, what would a move cost, and how might it affect my pension or savings?
• Family and friends: how close do I want to be to family, and to the friends and community I have now?
• Getting around: if I couldn’t drive, could I still get to the shops, the doctor and my friends?
• What matters most: the garden, the dog, the view, the club, the peace and quiet?

Money shapes every option. A move can involve selling costs, buying or entry costs, moving costs and ongoing fees. Some later-life options have fees when you leave as well. All of this can affect your pension, your savings and what you leave behind.

You don’t need every answer now, but it helps to understand the basics before you’re under pressure. Services Australia’s Financial Information Service is free and open to everyone, and can explain how a move might affect your pension and other payments. For decisions about your own money, talk to a licensed financial adviser, and get legal advice before signing any contract.

You don’t have to decide anything today. A plan can be as simple as this:

The trigger points matter most. It’s far easier to agree on them now, calmly, than to work them out in a hospital ward.

• This month: answer the questions above, on your own or with your partner. Write down the jobs each of you does at home.
• In the next three months: make the house a little easier now, like better lighting, a rail by the steps or a simpler garden. Learn the jobs your partner usually does.
• In the next six months: look at two or three options, even if you’re not ready to move. Visit, ask questions and take notes.
• Get the paperwork done: a will, an enduring power of attorney and an advance care plan.
• Pick your trigger points: decide now what would make you act, such as giving up driving, a fall, the stairs getting hard or losing a partner.
• Review it every year or so. Your birthday is an easy reminder.

My Aged Care (1800 200 422) is the starting point for government-funded help at home and aged care. You can generally ask for a free assessment from age 65, or from 50 for Aboriginal and Torres Strait Islander people. Even if you’re younger, the website is a good way to understand how help at home works.

Advance Care Planning Australia (1300 208 582) has free information about planning ahead for health decisions. Services Australia’s Financial Information Service can help with questions about pensions and payments.

This is general information, not advice. Your situation is your own, so talk to a qualified adviser or solicitor before making big decisions.