While there are definitely similarities between the two (in that they both appeal to older people who live independently and have communal facilities), the key difference between the two sectors is the contractual and financial models that apply.
Whatever option you are looking at that best meets your needs, it’s important to seek professional financial advice.
The Queensland Government website has excellent guides for retirees about understanding the risks of retirement units as investments.
They explain that living in a traditional retirement village is not the same as owning your own home or renting. In most cases, you do not purchase the property title to the unit. Instead, you purchase a right to live in the unit and the right to benefit from the lifestyle facilities the village offers.
Lifestyle Resorts or manufactured home parks are often marketed as ‘Over 50s Lifestyle Resorts’. Once a purely affordable housing option, residential parks now cater to a broader section of the housing market. Residents own their ‘manufactured home’, that is the building itself, but not the land on which it sits. Therefore, residents must pay a regular site rent to the Park Owner. Manufactured homes are regulated under the Manufactured Homes (Residential Parks) Act 2003.
The award confirmed that Living Gems is a market leader in the Over 50s Lifestyle Resort category offering Home Owners unlimited access to a wide choice of awesome indoor and outdoor activities and facilities – all right on their doorstep.
They can take a splash in the large heated pools, catch a game of tennis and lawn bowls or keep their fitness up in the fully-equipped gym. At Caboolture and Toowoomba Home Owners can improve their swing on the golf, and at Caboolture we are the only Resort in the area with full-size three lane ten-pin bowling alley!
But it’s the social side of resort living that will really appeal. Home Owners will often meet up with friends and family for fun times at the bar or cook up a feast at the barbecue pavilions.
AND IT’S SO EASY TO BECOME A PART OF THE LIVING GEMS COMMUNITY
Buyers can choose from a selection of architecturally designed floor plans – all boasting quality, style and unequalled value. Opt for two or three bedroom designs; then they can add their signature style with a designer decorator scheme. Ultimately, this allows owners a flexibility unlike other retirement developers.
Living Gems has standard inclusions that are guaranteed to exceed buyers’ expectations with multi-zone air-conditioning, high-quality European kitchen appliances, top-quality floor coverings, window treatments and much more.
And the great news is, as manufactured homes there is no stamp duty to worry about, so all you need to do is choose your design and your brand-new home can be constructed within 16 weeks.
All homes are environmentally friendly and designed to capture natural light and airflow with a high energy-efficient rating.
General Manager of Living Gems Vlad Pullich says, “I am proud to offer local retirees incredible value for money, no stamp duty, no deferred management fees.
“The resort-style facilities that you’d find at Living Gems are like a luxury resort, yet you’re living in an affordable regional community,” he said.
“I tell my Sales Team, have our buyers compare us with the rest, we know we’re the best!”