FAQs all your questions answered
Thanks for taking the time to read a bit about
us. If you have a question, it just might be
- Do I have to be retired?
- Do I own my home?
- Do I own the land?
- What's the difference between leasehold and freehold?
- What are the benefits of leasing land?
- Can I customise my home?
- What is the weekly site fee?
- How much does the site fee cost?
- What's the deferred management fee (DMF)?
- Is my home secure?
- Can I keep a pet?
- How do I sell my home at Lifestyle Communities®?
- Are there any other selling costs?
- Who owns Lifestyle Communities®
No, you don’t have to be retired to live at Lifestyle Communities®. Since we’re not a retirement village, you can still be working full-time or part-time while living in the community or fully retired if you wish.
We help people live life on their terms by combining luxury facilities with affordable low-maintenance homes in a secure gated community. Another important difference is that you are in control of your future, from the opportunity to release equity and boost your nest egg, to the focus on an independent lifestyle and freedom of choice.
Unlike other senior living options, at Lifestyle Communities® you own your home while taking out a 90-year lease on the underlying land. Since you own your own home, you can live with privacy, independence and control.
When you buy a home at Lifestyle Communities® you enter into a long-term (90 year) secure lease on the land which your home is situated and your lease is paid via a site fee each fortnight. The secure lease gives you an exclusive right to occupy the land and to use the spectacular community facilities.
The main advantage of leasehold (long-term secure lease) over freehold (owning your own land) is Lifestyle Communities® has a long-term financial interest in the ongoing success of the community.
The benefits of leasehold at Lifestyle Communities® compared to owning a conventional house in the suburbs are as follows:
- You can be sure you are never going to have to put up with young renters living next door Under the conditions of the leasehold homeowners cannot rent their home out to others so you always know who your neighbours are!
- One of the conditions of lifestyle is that all homeowners must be over 50 – You will be living in a community of like minded individuals!
- All front gardens and common landscaped areas are maintained by the community gardening team – Your street will always look perfect!
- You have knowledge of what is built in your street and any changes will be closely administered – Our goal is to protect the aesthetic of your streetscape and therefore protect the value of your investment
- No stamp duty or council rates are payable – As there is no transfer of title saving you $$$
(all of this is taken care of by Lifestyle Communities®)
The benefits of leasing land at Lifestyle Communities®, compared to owning a conventional house in the suburbs, are:
- If eligible, you receive Commonwealth Rent Assistance payments
- You have 24/7 access to fully maintained resort-style facilities
- No council rates, water rates or body corporate
- All front gardens and common landscaped areas are maintained by gardeners
- You know your neighbours will always be likeminded people of a similar age
What sort of quality guarantees come with my new home?
All homes are constructed from high-quality materials and finishes selected to last the test of time. Your new home comes with a three month maintenance check, two year non-structural warranty and ten year structural warranty.
It’s your home and you can make whatever interior changes you desire once you move in. Any variations or customisations to the exterior or façade of your home must be in keeping with the overall look and feel of the community and you’ll need to let us know of your intentions prior to commencing any works.
Are there any other buying costs?
You pay no stamp duty or conveyancing fees when you purchase your home at Lifestyle Communities®.
The site fee gives you the right to occupy the land where your home is situated and is used to pay the costs of running the community including the following:
- On-site Community Management team
- Maintenance of common garden areas and your front garden
- Maintenance and running costs of the Clubhouse and other common facilities
Under the agreement with Lifestyle Communities®, the weekly site fee is payable by direct debit each fortnight. The site fee is reviewed on 1 July each year and any increases are capped at CPI or 3.5% – whichever is greater.
- Single person on the Age Pension (after Rental Assistance rebate): $133.87 ($212.38 less $78.50 Rent Assistance rebate)
- Self-funded single person: $212.37
- Couple on the Age Pension (after Rental Assistance rebate): $171.36 ($245.36 less $74.00 Rent Assistance rebate)
- Self-funded couple: $245.36
Can I get Federal Government Rent Assistance?
Depending on your personal financial circumstances, you may be eligible for Commonwealth Rent Assistance to reduce the weekly site fee. You’ll need to contact Centrelink or the Department of Veterans Affairs to find out if you’re entitled to assistance.
Do I pay council rates?
No, you don’t pay any council rates while living at Lifestyle Communities®.
To help keep the home purchase price and weekly site fee at an affordable level, Lifestyle Communities® recovers part of its costs for developing, running and maintaining the community when you sell your home. This payment is known as the Deferred Management Fee (DMF) and is a scaled percentage of 4% of the selling price per year and is capped at a maximum of 20% from the fifth year. This is typically a lot less than other places you may be considering and is calculated pro-rata for the time you are a Homeowner at Lifestyle Communities.
Your home is part of a gated community where entry gates are closed each evening. Your on-site Community Managers also provide additional peace of mind whether you are at home or away travelling.
Yes, pets are part of your family and are very welcome. Each Clubhouse has ‘doggy parking’ for your pooch so you can enjoy the 5-star resort facilities while your furry friend is close by. There are some common-sense rules to follow, as we are conscious that we need to respect the rights of all homeowners, including those without pets
You can sell your home at any time through the Lifestyle Communities® sales team or through a local real estate agent – the choice is yours. When you’ve sold your Lifestyle Communities® home, your lease agreement ends.
There is a Selling Commission Fee of 2.5% of the selling price payable to Lifestyle Communities® if we sell your home for you. You can choose a private real estate agent to sell your home, in which case you’ll need to negotiate a separate selling commission with that real estate agent.
There is a Handling Fee of 0.5% of the selling price payable to Lifestyle Communities® for us to prepare the paperwork and administer the sale of your home and act in the capacity of a conveyancer for the sale of your home.
Lifestyle Communities® does not have any compulsory refurbishment fees.
Where can I find more information?
If you have any further questions or would like more information on a particular area, we’d love to hear from you:
In 2003, three founders (including our Managing Director, James Kelly) of Lifestyle Communities® set out to reimagine what downsizing could look like. Pioneers in modern retirement living, the community–focused business model resonated with the market and in 2007, Lifestyle Communities® was floated on the Australian Stock exchange (ASX:LIC) where it remains as a publicly listed company.