The Right Financial Choice
Buying a home in an over 50s Resort is a major financial decision. You want to be sure it is the right investment for your circumstances today and also for the longer term for you, your children and perhaps grandchildren.
Whilst there are many things to consider, there are five broad financial phases to any home purchase:
- Understanding what you are buying in terms of location, title and facilities.
- The price you are paying.
- The ongoing expenses.
- The possible sale of your home and any related costs.
- Passing on your home as a legacy to your family.
It’s Your Home, You Own It
Your investment in a Living Gems Resort is protected by numerous pieces of legislation, the most important of which is the Manufactured Homes (Residential Parks) Act 2003. Under this Queensland State Government law, you OWN the home you are buying and lease the land on which the home is built.
Your right to occupy your home and to have access to our fantastic Resort facilities, along with other very important protections, are all documented in this body of legislation. Life within a Living Gems Resort is unlike life in suburbia.
Lifestyle Resort living affords you protections that simply do not exist in retirement villages.
Upsize Your Life
For most of us, buying a home in an over 50s Lifestyle Resort is part of a larger plan for enjoying an excellent lifestyle in our retirement years.
Many of our Home Owners have downsized from larger family homes.
For some, the reason to downsize was an ‘empty nest’. For others, it was a desire to unlock built-up wealth in the family home and have a lifestyle.
The equity released from selling your family home can be used to buy an affordable home within a Living Gems Resort. Money remaining from the sale of your suburban home can then be used to fund your lifestyle, or help family, in the coming years.
Some call it ‘downsizing your home’. At Living Gems, we refer to it as ‘right-sizing your home and upsizing your life’.
Savings On Everyday Expenses
At a Living Gems Lifestyle Resort, typical ongoing, out-of-pocket expenses that Home Owners pay to the Resort operator will be a weekly site rent, as well as the cost of utilities that apply to your home.
Unlike life in suburbia, the manner in which these expenses are assessed and administered is strictly regulated and enforced by the Queensland State Government.
We understand your concerns about increases in the cost of living. We don’t believe in hidden charges. Living Gems is a leading lifestyle housing provider and we stake our reputation on treating Home Owners in a transparent and fair manner.
It’s our recipe for success.
You Are The Voice
Living Gems prides itself on the level of ongoing engagement we enjoy with Home Owners at each and every one of our Lifestyle Resorts. We conduct regular meetings with our Home Owners Committees for the purposes of discussing ongoing improvements and reinvestment into each Lifestyle Resort.
Unlike traditional property developers, Living Gems continues to have a vested interest in our Lifestyle Resorts – even the completely ‘sold-out’ ones. We don’t want or plan for you to leave so that we can slug you with massive exit fees.
Living Gems does not charge deferred management fees. We want our Home Owners to live long and happy lives within the comfort of their own homes, inside a community of like-minded, friendly and welcoming people.
Keep All The Return On Your Investment
A time may come when you either want to sell your home and move on, or perhaps require full-time aged care services.
As life circumstances change, some of our Home Owners decide to sell their home and ‘make another move’. Sometimes, that ‘other move’ may involve purchasing another home within their current Living Gems Resort or even at another Living Gems Resort. Other times, Home Owners may need to relocate elsewhere, which is absolutely fine.
We want to state very clearly:
- You can list your home for sale any time you like and sell it to anybody you want without any restrictions or deadlines. It is your home to deal with as and when you want.
- As we’ve stressed previously, you won’t be slugged with any deferred management fees when you sell. Furthermore, Living Gems does not force you to redecorate or reinstate your home if you choose to sell it.
- You can use a real estate agent of your choice or you can carry out your own private sale. If you choose to use the services of Living Gems to sell your home, we will only charge you a commission if we actually sell your house. The best part is that our commission is competitive with real estate agencies.
- If the sale of your Living Gems home generates a capital gain at the time of resale, then that capital gain is YOURS TO KEEP.
Foundations For Your Future Gains
By and large, your selling price will be determined by the dynamics of the local market at the time of the sale. However, with Living Gems Resorts, there are a number of factors that may work in your favour:
- We develop our Lifestyle Resorts in good locations. Our communities are situated near shopping, medical, sporting, transport and entertainment facilities. Proximity to these services and facilities will attract the interest of potential buyers if you decide to sell.
- Living Gems continues to invest in the amenity and appearance of our Resorts. We care about our product offering and we are committed to ensuring our Resorts continue to attract the interest of new Home Owners into the future. Living Gems has a proud record of ongoing Resort maintenance and refurbishment.
- At Living Gems, we occasionally hear horror stories about people who have lost fortunes as a result of deferred management fees that are associated with traditional retirement villages. Scary stuff. Forgive us for saying it again, ‘WE ABSOLUTELY REJECT THE CONCEPT OF DEFERRED MANAGEMENT FEES’ and we think you should too!
It’s nice to know that it’s actually possible for Home Owners to increase the value of their financial nest egg during their time at a Living Gems Lifestyle Resort.
Moving into a Living Gems Lifestyle Resort may improve your financial wellbeing, as well as your personal wellbeing.