MANY OVER 50s or retirees are faced with the daunting task of trying to decide whether they would be better served by buying a home in an over 50s lifestyle resort – a manufactured home park – or buying a small unit or villa in a retirement village.
Dennis Ring is the sales manager of a unique boutique lifestyle resort in Maleny, Sunstone Gardens Resort, and he says that one disadvantage of buying into a full retirement unit or villa complex is discovered when the villa is to be sold.
The villa or unit owner finds out that a large proportion of the proceeds of their sale is often absorbed by “Deferred Management Costs”, that go back to the management of the retirement village. On top of that says Dennis you may need to spend money on refurbishing the unit to meet the management’s move out requirements.
Nevertheless retirement villas do provide a wide variety in levels of full care facilities and on-going medical assistance.
The benefits of buying a home in an over 50s lifestyle resort is that the home owner receives the full benefit of any capital appreciation. They also keep the 100% proceeds from the sale of their home, with no capital gains tax being imposed.
“In a full retirement village your upfront and on-going costs will include, stamp duty, legal/body corp fees, Council rates, water rates, and exit fees or a buy-back management scheme will be incurred,” says Dennis.
The bonus of an over 50s lifestyle resort is that none of the above costs are imposed. Your only payments are for standard utility charges, power,
phone, home insurance and a small weekly fee. Dennis adds that if you are receiving a full pension, you will be entitled to receive a subsidy from Centrelink or the Department of Veteran Affairs. For couples it’s around $38 per week and singles about $58 per week, because the land you occupy is leasehold.
Sunstone Gardens five star recreational facilities comprise a three rink bowling green, BBQ pavilion, and spacious outdoor swim/lap pool and spa. The Million Dollar Country Club boasts a grand ballroom, dress rehearsal stage, 23 seat theatre, private gym, library/meeting room, ladies craft room, snooker parlour, 2 dining areas, and a men’s exclusive work shop.
Dennis Ring has ten years in this specialised over 50s home industry. Contact him at Sunstone Gardens, toll free on 1800 193 177 for your free information kit including a DVD, or you can view the website: www.livinggems.com.au
You can personally inspect the Resorts Display Centre at 23 Macadamia Drive Maleny (500 metres west of the shopping centre) open seven days a week from 10.00am to 4.00pm. No appointment is necessary.
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