Your Questions Answered

Unlike a retirement village, Lifestyle Communities operates under a different model with different practices. Watch our no fuss breakdown of how our model works below and consult some of our frequently asked questions.  

 

If you have any other questions or would like to speak to one of our friendly consultants regarding your personal circumstances, please contact us today

 

Do I have to be retired?

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Lifestyle Communities is not a retirement village. At our communities you can be retired, or working full-time or part-time. 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.

Do I own my own home?

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Unlike other senior living options where you never own your home, at Lifestyle Communities you own your home, live independently, and have a long-term (90 years) secure lease on the land on which your home is situated. As a homeowner at Lifestyle Communities you are also protected under the Residential Tenancies Act for additional peace of mind.

Do I own the land?

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One of the reasons that homes at Lifestyle Communities are affordable is that we separate the ownership of the land from the ownership of the home. In this way you are not paying for ownership of the land, which frees up money to do other things. When you buy a home at Lifestyle Communities you enter into a long-term (90 years) secure lease on the land on 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.

What are the advantages of leasehold over freehold?

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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
  • All front gardens and common landscaped areas are maintained by the community gardening team
  • You have knowledge of what is built in your street and any changes will be closely administered
  • No stamp duty or council rates are payable (all of this is taken care of by Lifestyle Communities)

What sort of quality guarantees come with my new home?

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Your new home will be built by one of Victoria’s leading homebuilders - Todd Devine Homes.

All homes are constructed from high quality materials and finishes selected to last the test of time. Your new home comes with a 3-month maintenance period, 2-year non-structural warranty and 6-year structural warranty.

How much is the site fee?

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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. The site fees are currently: 

PERSONAL FINANCIAL CIRCUMSTANCE

WEEKLY SITE FEE

Single person on the age pension
(after rental assistance rebate)

$106.79
($173.29 less $66.50 Rent Assistance rebate)

Couple on the age pension
(after rental assistance rebate)

$137.50
($200.20 less $62.70 Rent Assistance rebate)

Single self funded retiree
& those still working full time

$173.29

Couple self funded retirees
& those still working full time

$200.20

 

Please Note: The above table is provided as a guide only. Centrelink reviews the Age Pension and Rent Assistance on the 20th of March and the 20th of September each year. This information was obtained from Centrelink on 20 September 2017. For more information please call Centrelink on 13 23 00 or visit their website. Information correct as at 20 September 2017.

Can I get Federal Government Rent Assistance on the Age Pension?

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Depending on your personal financial circumstances, you may be eligible for Federal Government Rent Assistance to reduce the weekly site fee. You will need to contact Centrelink or Veterans Affairs to find out what you are entitled to receive.

Are there other buying costs?

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You pay no stamp duty or conveyancing fees when you purchase your home at Lifestyle Communities.

Do I pay council rates?

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There are no council rates at Lifestyle Communities.

What about the Deferred Management Fee?

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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 5th year. This is a lot less than other places you may be looking at.

If you decide to move out in the first 12 months, we'll waive any DMF that might be payable.

Learn more about our Deferred Management Fee and why we have one in place below: 

 

What about pets?

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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.

Where can I find more information?

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To see the full range of Frequently Asked Questions, please click on the button below.

Download the Lifestyle Communities FAQs

For further information: 

Phone: 1300 50 55 60

Email: customer.service@lifestylecommunities.com.au

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