18
Jul
What is a land lease community?
If you’re over 50 and ready for less maintenance and more lifestyle, land lease communities might be just what you’re looking for.
A land lease community (LLC) is a simple idea that delivers a lot of value. You own your home outright and lease the land it sits on, with your right to live there protected by law. It’s a smart way to downsize, release equity and boost your lifestyle – without the heavy costs of traditional retirement options.
How does it work?
Buying into a land lease community means:
You own a brand-new, high-quality home
You lease the land and pay a modest weekly site fee
There’s no stamp duty
You keep 100 percent of any capital gains when you sell
There are no entry or exit fees
And if you are eligible for the Age Pension or Department of Veterans’ Affairs support, you might be eligible for rent assistance, making things even more affordable.
You own your home, not the land
Homes in...