After decades of rental instability, 65-year-old nurse educator Lyn Collins is finally living her dream lifestyle on Melbourne’s Mornington Peninsula after purchasing a home for just $200,000.
Lyn faced 20 years of regular moves between rented accommodation, while raising her three children, after two marriage breakups left her in financial upheaval.
With retirement approaching, she feared never owning a home again until she discovered her unique advantage – her age – which opened an entirely new housing option she hadn’t considered: retirement living.
“I’m a downsizer, but I’m not retired, and until earlier this year I hadn’t realised the options available to me,” Lyn said. “I certainly would never have imagined it would be possible for me to own a home at Safety Beach.”
Using superannuation savings, Lyn purchased her renovated one-bedroom villa at Aveo’s Beachside Gardens Retirement Village for $200,000 – 75% below the average apartment price in Safety Beach*.
Without the pressure of paying rent, Lyn is now rebuilding her super balance before her planned retirement in 18 months.
“It’s hard to get a loan when you’re older, so buying into a retirement community has given me financial security and peace of mind. My costs have halved without rent and I’ve even been able to upgrade my car,’’ she said.
Lyn is one of a growing number of Australians who are working for longer. The newly released 2025 Ageing Australia Study, commissioned by Aveo, surveyed 1,260 people aged 65 to 85 across four states and found that almost 30% are still working in either part or full-time roles.
“I enjoy working, it gives me purpose, drive and satisfaction,” Lyn said. “It has also helped me navigate the cost-of-living pressures that all Victorians face.”
Aveo CEO Tony Randello said the Ageing Australia Study highlighted the shift in retirement expectations of Australians.
“Retirement looks very different today and this is evident across Aveo communities, where people are working for longer, driving longer, embracing technology, and using their smartphones for socialising and even gaming,” Mr Randello said.
“The research findings also showed us that 45% of people aged between 65 and 85 are dining out less, and socialising less, because of cost-of-living pressures. Communities like Beachside Gardens provide affordable home ownership opportunities along with the safety, lifestyle and the social connections people need.”
For Lyn, the gated community at Beachside Gardens has delivered more than financial relief.
“Security is so important to me as I often get home from work after 6pm, and I feel safe here. I previously lived in a block of units and there were strangers taking a short-cut walk through the grounds,’’ she said.
“My one-bedder villa is lovely and large enough for me as I’m in and out all the time, and plan for that to continue when I retire. I have four grandchildren and two who live nearby regularly visit and are made to feel welcome.
“I can walk down to the beach and there are so many options for cafes and dining.
“The community here is so friendly, with several new residents around my age. There are always a lot of things going on and I get involved in social activities like Happy Hour and dinners. It’s the perfect place for me to enjoy life as I move into retirement.
“Importantly, I’ve made wonderful friends, and I’ll never have to worry about housing insecurity again.”
Aveo Beachside Gardens Retirement Village is located at 104 Country Club Drive, Safety Beach. For more details, visit aveo.com.au.
*Source: REA Safety Beach Suburb Profile
