Living in a lifestyle community comes with many benefits worth exploring, and you can enjoy them even if you’ve yet to reach retirement age. Yes, many residents in Lifestyle Communities still work and are young enough to truly enjoy retirement living. And that’s not all. . .
Lifestyle community vs. retirement village: How does one compare with the other?
- Younger, more active residents, as opposed to the retired, older age group
- Resort-like amenities are available on-site
- Residents owned their homes instead of just a licence to occupy
- Residents of some retirement villages may need to pay stamp duty.
Community living: How can you and your family benefit from it?
Simplified, less costly property purchase
A lifestyle community is also called a land-lease community based on its purchase and ownership arrangement. As a resident, you only need to pay for the home upfront and pay the lease of the land a property sits on, which can be weekly or monthly. Since you’re only renting land, you’re exempt from stamp duty fees, which can significantly lower the purchase cost.
Gain financial freedom early on
If your money is locked in with the home you currently reside in, downsizing into a lifestyle community will free up said funds. You can then use this to pay for the lifestyle you’ve always dreamed of.
Guaranteed safety
You’ll have peace of mind living within a gated community with on-site community managers. No amount of money could pay for the safety and security you can enjoy in such settings. Moreover, if you go on holiday, you won’t have to worry about who will look after your home. You can leave it to the community to keep an eye on it.
Holiday lifestyle
With amenities like an indoor pool and spa, cinema, wellness centre, and microbrewery, living in a land-lease community feels like going on holiday every day. There’s never a dull moment in this living option, especially if you indulge and enjoy every amenity available to you.
Rental assistance
Remember paying a lease for land? If you qualify for the Age Pension or other Centrelink welfare payments, you could be eligible for rental assistance, too. This means more savings you can enjoy from the rental subsidy.
Living in a lifestyle village is advantageous, especially if you want a better life after retirement. But why wait when you can downsize and buy into this kind of living early on? Live the life you’ve always wanted in a community that can promote personal growth and relationship building. Want to know more about this living option? Lifestyle Communities can help.
