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Downsizing
3 minutes read
The choice is now yours: a new way to pay your Management Fee
At Lifestyle Communities, we are on a mission to help downsizers feel empowered to live life on their own terms. For more than 20 years, our unique financial model has helped homeowners free up cash and enjoy a connected, low-maintenance lifestyle.
When you make the move to Lifestyle Communities you buy your home outright and lease the land it sits on as part of our land lease model.
We’re always looking for ways to offer more flexibility for future homeowners. That’s why we’re introducing a new way to pay your Management Fee, putting choice in your hands, so you can decide what works best for you.
What's new: choose when you pay your Management Fee
You now have the flexibility to choose when you pay your Management Fee – either upfront when you move in, or later when you sell.
In both options, your Management Fee is based on the purchase price of your home, so you keep any capital growth when you sell. Here's an example:
| OPTION 1 | OPTION 2 | |
Pay upfront | Pay later | |
| How it works | Pay your Management Fee when you move in and know it's all taken care of — with no more to pay at exit*. | Pay less upfront by deferring the Management Fee until you sell- freeing up cash to enjoy life now. |
| Home price | $600,000 | $600,000 |
| Management Fee | $60,000 (10%) | Up to $120,000 (4% per year, capped at 20%) |
| When it's paid | Before or at settlement | When you sell and leave the community |
| Total payment when moving in | $660,000 (home + Management Fee) | $600,000 |
Learn more about how the Pay Later Management Fee is calculated.
We’re here to help you choose the option that suits you
Downsizing is a big change for many homeowners and there are lots of decisions to be made. Our team is here to walk you through both options whether you’re comparing costs, planning ahead or just exploring what downsizing could look like for you.
If you’d like to learn more or discuss your particular situation, you can give us a call on 1300 50 55 60.
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* This information is provided as a comparison and relates to Management Fees only. Ongoing site fees and other costs are not shown in the above information. Selling or other costs will apply when you leave the community, including a $1000 handling fee and sales/marketing fees if you appoint us to sell your home. There are no mandatory refurbishment fees when you sell your home.
