When the time comes for you or a loved one to move into residential aged care, choosing the right service is an important decision. Availability and urgency can sometimes limit your choices and the pressure can be overwhelming, so having a simple process can help.
Think about the decision much like choosing a home and consider these four key steps:
1. Choose the Location
Consider where you would like to live and what is important to you.
Would you prefer to stay close to your existing doctor, friends and community, or would being closer to family make regular visits easier?
For personalised guidance, contact our Aged Care Financial Specialists, who will prepare a clear comparison summary of 3–4 aged care facilities tailored to your needs — or search for a provider through My Aged Care – Find a provider.
2. Consider What Feels Like Home
Everyone has different preferences. When visiting a residential care service, consider:
- Does it feel comfortable and welcoming?
- Are there gardens and outdoor spaces?
- Are the rooms suitable for your needs?
- How do staff interact with residents?
- What activities, meals and lifestyle services are available?
Take a tour where possible and consider whether you can see yourself feeling at home there.
3. Check the Price
Residential aged care costs can vary significantly between services. It is important to find an option that fits within your budget.
This does not mean you have to hand over large lump sums for aged care. You can choose to pay a Refundable Accommodation Deposit (RAD), or Daily Accommodation Payment (DAP), or a combination of both.
Our aged care financial specialists can explain the financial implications of each option and help you understand how they may affect your pension, cashflow and assets.
4. Structure Your Finances
Once you’ve chosen a service, it’s important to understand how you’ll fund the costs. Your home, savings, and investments all influence your aged care fees and pension.
Our Aged Care Financial Specialists can assess your situation, estimate your fees, outline accommodation payment options, and help you decide whether keeping or selling your home is the best financial outcome.
Avoid this common mistake: selling the home without understanding the consequences.
For more information about contact our Aged Care Financial Specialists to show strategies that will restructure your finances to help you make informed decisions.
Additional background details can be found on the My Aged Care – Understanding aged care home accommodation costs, though personalised advice is often clearer.
Need help with aged care finances?
If you are considering entering residential aged care or reviewing how you are currently paying for your accommodation, Holzworth Partners can help you understand the financial options available to you.
📞 07 3999 9751
🌐 Book Now –Holzworth Partners
The information provided in this document is general in nature only and does not constitute personal financial advice. It has been prepared without taking into account your personal objectives, financial situation or needs.
Before acting on any information provided, you should consider its appropriateness having regard to your objectives, financial situation and needs. Before making any decision, you should seek appropriate legal, tax and other professional advice.
HWP Financial Pty Ltd (No. 440011) is a Corporate Authorised Representative of Continental Wealth Pty Ltd (AFSL No. 479263).