As house prices in Australia’s capital cities boom, asset-rich cash-poor seniors are seizing the opportunity to improve their living standards by selling up and sizing down.
Selling while prices are high and moving into lifestyle communities for the over 55s, such as Ingenia Lifestyle Albury, allows homeowners to access their home equity, boosting their cash reserves by tens or hundreds of thousands of dollars.
Ex-Melbourne locals Richard and Gail Beagley had been looking for the perfect opportunity to downsize, and put their family home on the market only three days after visiting Ingenia Lifestyle Albury, which they have now called home for a year now.
“Our family home in Melbourne was unnecessarily large for just the two of us, and the idea of downsizing had been on our minds for many years before my wife read about Ingenia Lifestyle Albury,” Richard said.
“When we moved to Albury in June of last year, we became completely debt-free. I can’t explain what a relief it is to know we no longer owe money on any of our assets.
“Having freed up enough equity to allow my wife to retire, we can now spend more time enjoying our new community, on the road visiting our family and friends and enjoying life,” Richard said.
Earlier this year many of the residents from Ingenia Lifestyle Albury assisted with the official opening of their brand new clubhouse which now plays a significant role in bringing the residents together and encouraging connectedness in the community.
The clubhouse features an events space, swimming pool and alfresco dining area providing them with the perfect space to relax, socialise and entertain.
Ingenia Lifestyle offers over 55s an innovative and sustainable way for downsizers to finance affordable housing and improve their wellbeing.
Homeowners are able to unlock considerable equity from their family home to fund their senior years, giving them the opportunity to do the things they’ve always wanted.
Buyers purchase a new, state-of-the-art manufactured home and lease, rather than own, the land, offering a much more affordable entry price point and eliminating the need to pay stamp duty.
With two bedroom homes starting from as little as $195,000, Ingenia Lifestyle Albury offers quality, modern home designs not seen before in the over 55s market in Albury.
Ingenia Lifestyle Albury is located at 508 Wagga Road Lavington. For more information or to arrange an inspection please call Megan Collins on 0459 955 122 or visit www.liveinalbury.com.au