Is Your Family Home Costing You More Than You Think?

You’ve paid off the mortgage. The house is yours. Surely the expensive part of homeownership is behind you?

Then the rates notice arrives, the insurance renewal lands in your inbox and the ageing house needs another round of repairs. 

Sound familiar? 

Even without a mortgage, a larger family home can be surprisingly expensive to run. So could downsizing to a modern villa at a Living Gems over 50s lifestyle resort make better financial sense? 

The hidden cost of staying put

Owning your home outright is a wonderful achievement. But mortgage-free doesn’t mean expense-free. 

According to Townsville City Council’s 2026–27 Budget, the average residential ratepayer pays approximately $4,484 annually in combined council rates and utility charges, after the applicable prompt-payment discount. That’s around $86 a week, before any other outgoings. 

In Rockhampton, the typical residential ratepayer faces approximately $4,663 annually in council rates and fixed charges, before discounts and water consumption.  

Meanwhile, 2026–27 Queensland council rates benchmarking puts the annual cost for a median-valued residential property in Moreton Bay at approximately $4,428, including water usage. 

While the charges vary between regions, the message is clear: owning a family home comes with substantial ongoing expenses, even when the mortgage is paid off. 

When the costs of an older home start adding up

Beyond council rates, there’s the ongoing expense of maintaining a larger, older property. 

A roof that needs attention. Fencing that’s seen better days. Gardens that require constant upkeep. And those unexpected repairs that always seem to arrive when it’s most inconvenient. 

Even when you do the work yourself, there’s another cost: your time. 

While every home requires maintenance, moving into a new, modern, low-maintenance villa can mean fewer things to look after and potentially lower upkeep costs. 

At Living Gems, front gardens, recreational facilities and communal spaces are maintained through the resort, leaving you with more time to enjoy your beautiful new home. 

And while homeowners remain responsible for maintaining their own villas, there’s something to be said for swapping a large family property for a home designed to make everyday life easier. 

“People often think about what their home is worth, but not necessarily what it costs them to maintain,” says Living Gems CEO Anthony Puljich.  

“Downsizing is an opportunity to reassess those expenses and think about how you’d rather spend your money.” 

A different approach to homeownership

At Living Gems, you own your villa and lease the land beneath it. 

And there’s a significant financial difference compared with traditional homeownership: no separate council land rates to pay. 

Instead, a weekly site fee covers your land lease and contributes to resort management, shared facilities and maintenance of communal areas. 

You’ll still have normal household expenses, including utilities, appropriate home and contents insurance, and upkeep of your villa. But moving from a larger, older property into a modern, low-maintenance home could mean fewer maintenance responsibilities and potentially lower upkeep costs. 

More than a home

There’s also the value of what comes with resort living. 

Imagine taking a swim without cleaning the pool (or paying the water and heating bill for it), enjoying a game of bowls without maintaining the green, or heading to the gym without travelling across town and paying a premium membership. 

At Living Gems, residents enjoy swimming pools, gyms, pickle ball, bowling greens, cinemas, creative spaces and Country Clubs. These shared amenities are managed through the resort, rather than being facilities you have to own and maintain yourself. 

“We want our residents to enjoy beautiful homes and wonderful facilities without all the work that comes with a larger property,” says Anthony. “It’s about giving people more opportunities to enjoy their time.” 

 Could downsizing free up equity?

For many Australians, their family home is their biggest asset. Selling a larger property and buying a villa at a lower price could release equity for travel, family, hobbies or simply greater financial flexibility. 

Of course, there’s no one-size-fits-all answer. Property prices, selling and moving costs, site fees and any Centrelink implications all matter. 

And while a new villa may be easier to maintain, it doesn’t automatically guarantee lower insurance premiums or annual expenses. The sensible approach is to compare your current costs with the specific villa and site agreement you’re considering. Our Sales Team can help you with that. 

Could downsizing give your super a boost?

Here’s another potential benefit worth knowing about. 

If you’re aged 55 or older and have owned your home for at least 10 years, you may be eligible to contribute up to $300,000 from the sale proceeds of your family home into your superannuation, or up to $600,000 combined for an eligible couple. 

Known as the downsizer contribution, this Australian Government initiative could give you greater flexibility when planning your retirement. 

Did you know you could qualify for Rent Assistance?

Here’s something many prospective buyers may not realise. 

Eligible Living Gems homeowners receiving the Age Pension or another qualifying government payment may be entitled to Commonwealth Rent Assistance towards their weekly site fees. 

From September 2026, eligible singles can receive up to $223.80 per fortnight, depending on their circumstances and accommodation costs. 

That’s potentially valuable assistance towards the ongoing cost of resort living. 

Eligibility criteria and payment thresholds apply. Visit Services Australia for the latest information. 

It’s about value, not just savings

Downsizing shouldn’t mean settling for less. 

Living Gems villas offer premium finishes, thoughtful layouts and luxury inclusions, together with the peace of mind of a secure, gated community. 

The real benefit may be a combination of lower upkeep, more manageable living and access to a lifestyle that would be difficult to recreate in a traditional family home. 

So, when was the last time you added up the cost of staying where you are? 

Curious about what downsizing could mean for you?

Come and see the Living Gems lifestyle for yourself! Visit one of our resorts and have a friendly chat with our team about your options. We’ll walk you through how land lease living works, explain the financial benefits and answer any questions you might have. 

You might be surprised by what’s possible.