4 minute read

Making life more affordable for Over 50s

Deanside Clubhouse Twilight Aerial

With interest rates, household bills, groceries and the general cost of living on the rise, it makes sense that Over 50s throughout Victoria are looking for affordable solutions for their retirement and pre-retirement years. If this is you, you’ve come to the right place! Downsizing to a low-maintenance home at Lifestyle Communities® could be the finance-savvy solution you’ve been looking for.

If you’re wondering how you’ll experience more financial freedom and less stress by downsizing to one of our communities, keep reading!

Free up equity

Perhaps the biggest way your bank account (and lifestyle) will benefit when you downsize, is freeing up the equity that’s sitting unused in your current home. On average, new homeowners to Lifestyle Communities® free up $240K – $250K of untapped equity when they sell their family home and downsize. This helps provides financial security, piece of mind for the future and the freedom to spend more on the things you love. Whether that’s embarking on a holiday of a lifetime, or purchasing the car of your dreams, the choice is yours. Ka-ching! From July 2022, the downsizing contribution allowance from the Federal Government also means significant tax benefits further enhancing the value you can unlock from your current home.

Fixed pricing for peace of mind

When you select and customise your dream home at Lifestyle Communities®, your purchase price and settlement date is fixed. This means there’s no need to worry about price increases, land title delays or hidden costs. Plus, our communities offer very affordable downsizing options, with homes typically priced at 75-80% of median house prices in the local area.

Forget interest rates

Because you free up a significant amount of equity by selling your current home, our homeowners own their homes outright. This means there’s no need to be concerned about interest rate rises anymore, which have been causing stress for Australian homeowners. According to the Australian Centre for Social Innovation, while around 40 per cent of baby boomers own their own home, a third are still paying it off and subject to the recent increase in interest rate repayments. Eventually, keeping up with these payments, as well as the rising cost of living, has been eating into other spending options. Ultimately, downsizing to a Lifestyle Community can remove the stress of having to keep up mortgage payments later in life.

Lower living costs

Living in a newer and more efficient home within our secure communities comes with a huge range of financial benefits. You’ll experience lower water, gas and power bills because you won’t have to use as much energy to heat and cool your home, as well as lower household insurance costs because you live in a secure, gated community environment. Your brand-new home will also feature top of the range, energy efficient appliances that keep the bills low. Plus, living in a Lifestyle Community, you’ll benefit from:

  • No stamp duty on your new home
  • No council rates
  • No water rates
  • No sewerage rates

Each of our communities also features an electric car, e-bikes and shuttle bus for our homeowners to take for a spin whenever they choose. This allows you to leave your car at home and spend less on petrol.

Solar power savings

All our brand new communities are powered solely by electricity and renewable energy to minimise our impact on the environment and reduce our homeowners’ energy bills. These solar-powered micro grids allow our homeowners to save up to 30% on their power bills.

Save on repairs and maintenance

Your new home will require less maintenance and upkeep than your current home, so there’ll be no need to spend your valuable time and hard-earned cash on repairs. We also employ landscapers to tend to all homeowners’ front gardens, so you won’t need to fork out for your garden’s maintenance – unless you’re a passionate green thumb.

Live bigger for less

Most importantly, when you make the move to a Lifestyle Community, you’ll enjoy 24-hour access to incredible amenities and will have peace of mind within your safe and secure community of like-minded neighbours. Plus, you’ll unlock a world of exclusive benefits, deals and discounts with Club Lifestyle. Offering motorhomes and holiday villas for all Lifestyle homeowners to enjoy for free (with the exception of a nominal cleaning fee) and discounts with selected partners to help reduce the rising cost of living, there are so many perks to experience. The best part – you’ll have money left over to live in total comfort. That’s what we call more bang, less buck.

With a range of ready to move homes and homes that are still under construction, we can cater to your downsizing timeline. In other words – we’re ready when you are! So, why wait when an incredible lifestyle is just around the corner? Buy now and gain all the benefits that come with downsizing to a Lifestyle Community.