Over 55s Urged to Take Advantage of Home Price Rise

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As median house prices continue to rise across the country, now is an opportune time for many asset-rich, cash-poor seniors to downsize their large homes, boost their cash reserve and improve their lifestyle.

The Australian Bureau of Statistics’ latest residential property price index revealed median house prices rose across most capital cities in the 12 months to June 2017, with the highest growth in Melbourne and Sydney (13.8 per cent),  and Brisbane’s property prices increasing by three per cent[1].

Author, seniors finance expert and government advisor Rachel Lane said senior homeowners could boost their cash reserves by downsizing their home, selling while prices are high and moving into more affordable accommodation.

“Lifestyle-focused land lease communities, for example, are one of the newest types of affordable housing catering to the over 50s market.

“While the homes on offer are of an increasingly high quality, the entry price point is kept low since residents lease, rather than own the land, with low weekly fees. This pricing model eliminates the need to pay stamp duty, entry and exit fees and in some cases, the resident is then eligible for rent assistance.

In Queensland’s Logan City, the house prices in areas like Chambers Flat ($565,000[2]) are more than double (59 %) the $229,000 starting point for the nearby Ingenia Lifestyle Chambers Pines community.

“I would urge seniors to pay close attention to median house prices in their area and affordable housing price points like these to get a better sense of the type of cash reserves they might be able to access.”

“While housing affordability is generally considered a young person’s issue restricting entry to the market, it is also a major problem for those that do own a home but rely on a low weekly income,” Ms Lane said.

Ingenia Lifestyle Chambers Pines Project Sales Manager Lynda Ruddell said the unique land lease model was attracting more attention due to the flexible benefits that allow downsizers to pursue a financially stable lifestyle based on independence, health and wellbeing.

“The innovative design of the new homes allows buyers to reap the financial benefits of the land lease model, meaning residents retain their eligibility for government rental assistance on the weekly site fees,” Ms Ruddell said.

In Victoria, for the 12 months from March 2016 to March 2017, the overall medium house price in Victoria rose to $526,000[3], while in Lara, the medium house price is listed at $435,000[4], allowing some homeowners the opportunity to boost their cash reserves by tens or hundreds of thousands of dollars by selling while prices are high and moving into more affordable accommodation.

Ingenia Lifestyle Lara Regional Sales Manager, Zoe Ilich-Paul, said lifestyle-focused land lease communities are an innovative senior’s home ownership model where the entry price point is kept low since residents lease, rather than own, the land.

“Land lease communities also eliminate the need for residents to pay stamp duty, there are no exit fees and in some cases, residents are eligible for rent assistance on the weekly site fees.

“Our home designs are of an increasingly high quality while providing residents with more capital to fund their senior years,” Zoe said.

Ingenia Lifestyle Lara has a range of home designs starting from $219,000 for a one bedroom floor plan with open plan living and dining and a number of surprise features including covered decking, front landscaping, European stainless steel kitchen appliances and split system air conditioning.

 

 

[1] http://www.abs.gov.au/ausstats/abs@.nsf/mf/6416.0

[2] Residex Suburb Report – Chambers Flat 4133 QLD http://www.residex.com.au/free-report

[3]  https://www.propertyandlandtitles.vic.gov.au/__data/assets/pdf_file/0030/63399/Victorian-Property-Sales-Report.pdf

[4] https://reiv.com.au/market-insights/suburb/lara

 

Seniors Urged to Take Advantage of Unlocking Home Equity

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As median house prices continue to climb across most capital cities, many asset-rich cash-poor seniors are missing out on an opportunity to build on their existing home equity and improve their living standards.

Author and finance expert, Rachel Lane said everyone had the option of staying in their own home, but many found it to be too much maintenance or too lonely, or they require a financial injection.

“Seniors can boost their cash reserves by tens or hundreds of thousands of dollars by selling while prices are high and moving into more affordable accommodation.

According to Ms Lane, there is great confusion amongst many people about the types of affordable housing available.

“Senior homeowners looking to downsize needn’t be competing in the private market against homeowners and investors, which is a common fear, as there are a variety of traditional and new home options to suit,” Ms Lane said.

“Lifestyle-focused land lease communities for example are one of the newest catering to this specific market.

“While the homes on offer are of an increasingly high quality, the entry price point is kept low since residents lease, rather than own the land, with weekly fees in the $120-$160 range. This pricing model eliminates the need to pay stamp duty, entry and exit fees and in some cases, the resident is then eligible for rent assistance.

“One such operator – Ingenia Lifestyle – has over 30 communities across New South Wales and Queensland and Victoria.

“For example, in south west Brisbane, the median house prices in areas like Shailer Park ($520,000) and Greenbank ($576,000) are double the $251,000 starting price point for the nearby Ingenia Lifestyle Chambers Pines community.

“I would urge seniors to pay close attention to median house prices in their area and affordable housing price points like these to get a better sense of the type of cash reserves they might be able to access.”

“While housing affordability is generally considered a young person’s issue restricting entry to the market, it is also a major problem for those that do own a home but rely on a low weekly income,” Ms Lane said.

Innovative New Home Designs Launch at Chambers Pines – Stage One 80% SOLD OUT!

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Ingenia Lifestyle Chambers Pines has fast-tracked its next release of homes to the market in a bid to cater to the growing demand for affordable living for over 50s in South East Queensland.

The launch of the new stage has now resulted in the first release of Stage One to become 80% sold out since the community hosted the exciting Street Festival for local seniors on Saturday 3 June.

Guests were treated to live jazz performances, a delicious selection of food trucks and the opportunity to tour the brand new stage to the lifestyle community.

Project Sales Manager Lynda Ruddell said the festival provided downsizers with the chance to tour the innovative home designs and learn more about the popular land lease community model, where residents own the home, but lease the land.

“The major difference with these new homes is the traditional construction method of homes being built on site and with minimal stairs, offering over 50s an alternative housing solution with all the benefits of quality, speed and affordability,” Ms Ruddell said.

“The innovative design of the new homes allows buyers to reap the financial benefits of the land lease model, meaning residents retain their eligibility for government rental assistance on the weekly site fees.

“Residents will soon have a range of brand new lifestyle facilities with a new clubhouse, resort-style swimming pool and competition standard bowling green all coming soon to Chambers Pines.” CLICK HERE TO VIEW THE 3D VIRTUAL TOUR

Ingenia Lifestyle Chambers Pines offers buyers brand new traditional built homes from $251,000, with the second release to Stage One now available for viewing.

For more information on Ingenia Lifestyle Chambers Pines and the new display homes please contact Project Sales Manager Lynda Ruddell on 0475 969 355 or visit www.liveinlogan.com.au

The Downsizing Decision Making Process

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There are many things to consider when looking into downsizing to a lifestyle community, from budget, space and garden size to the type of lifestyle you’re looking forward to enjoying.

Whether it’s to save money, release equity or to avoid the burden of a large family home, downsizing comes with its rewards.

Ingenia Lifestyle Chambers Pines residents Don and Helen Govan decided to downsize for two major reasons.

“It was only about 6-8 weeks before we moved to our community that we were robbed in our house and we lost our car and other belongings.

“Also there was a realisation that the old family home required too much work to maintain; so I knew it was time we had to downsize.”

“We don’t have to worry now. I think people leave downsizing too long and then your kids start to worry. I didn’t want the fear of having the kids to arrange our lives.

We wanted to have the power and choice on where we wanted to live – it was about us being proactive and not reactive,” Mrs Govan said.

“Now we get to look into travelling, having goals and plans, that’s what we wanted.”

Whether you’re ready to downsize or just starting your research, now is an opportune time to tour Ingenia Lifestyle Chambers Pines. Call Lynda Ruddell on 0475 969 355 or visit www.liveinlogan.com.au

Australia’s Biggest Morning Tea Success

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Ingenia Lifestyle Albury

Our Albury community hosted an Australia’s Biggest Morning Tea and it was an amazing event with over fifty people attending the event, with guests made up of current and prospective residents, family and friends raising funds through the $5 entry, lucky envelopes and an auction.

Their amazing efforts all added up to almost $2,000 for the NSW Cancer Council.

The fundraising prizes were donated from local businesses, food galore by all the residents and family and resident musician Alan Buckley entertained the day with live music.

With so much food left over the community’s newest resident, Jenny who is a nurse, suggested the hospital may appreciate some afternoon tea. Half an hour later this had been arranged with the help from some beautiful nurses who had already had a pretty tough day.

One of the nurses wanted to contribute to the fundraising as a show of appreciation, which quickly resulted in all staff wanting to help at which time they suggested they could pass the hat around and deliver the money later.

All up it was an amazing day to be a part of and thanks go to all the Ingenia team for contributing their time and continuing to support such an amazing cause.

Ingenia Lifestyle Chambers Pines

Throughout the past 12 months Ingenia Lifestyle and the Greenbank RSL have worked together in planning and promoting a number of lifestyle and charity events to entertain, educate and inform their members, guests and visitors as well as our residents.

The most recent Australia’s Biggest Morning Tea had over 300 guests and the event raised $4,000 for the QLD Cancer Council.

Thanks to Ingenia and Greenbank RSL, local members and businesses, guest speakers, members of Greenbank RSL and residents of Ingenia Lifestyle.

Additionally, thank you to Jordan Carroll and his mum, Maria, for speaking about the huge research benefits that fundraising makes these days and how it has improved his life.

Grand Opening Street Festival to Launch New Stage of Chambers Pines

Ingenia Lifestyle Chambers Pines has fast-tracked its next release of homes signalling an upward trend towards affordable over 50s active lifestyle living amongst South East Queensland seniors.

The unique land lease ownership model is already answering the affordability demand and is set to help ease the reported pain with more suitable homes for Logan’s growing senior population at its upcoming display home launch.

Ingenia Lifestyle Chambers Pines is set to launch eight new innovative display homes at its Street Festival on June 3 from 10am – 2pm.

Project Sales Manager Lynda Ruddell said the unique homes are built on site with a design that provides residents with the functionality of a traditional home while providing the benefit of minimal stairs to assist with ageing in place.

“The innovative design of the new homes allows buyers to reap the financial benefits of the land lease model, meaning residents retain their eligibility for Government rental assistance on the weekly site fees,” Ms Ruddell said.

“The major difference with these new homes is the traditional construction method of homes being built on site and without stairs, offering over 50s an alternative housing solution with all the benefits of quality, speed and affordability.

“The new home designs will provide downsizers with diverse and affordable housing options with all the benefits of the land lease ownership model.

Ingenia Lifestyle Chambers Pines offers buyers brand new modular homes from $239,000 and new traditional built homes from $247,000.

With brand new homes are expected to sell out fast, downsizers are encouraged to tour the highly anticipated display homes at Chambers Pines’ upcoming Open Day Street Festival on Saturday 3 June.

For more information on Ingenia Lifestyle Chambers Pines and the new stages coming soon please contact Project Sales Manager Lynda Ruddell  on 0475 969 355.

Innovative Home Construction the Future for Downsizers

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The home building industry is setting new benchmarks in innovative construction techniques allowing a traditional built home to be delivered under Ingenia Lifestyle’s land lease ownership model with more benefits for downsizers.

A driving force behind the home design innovation has been the increasing demand from over 50s looking to move away from the traditional bricks and mortar construction process and downsize into lifestyle communities.

Ingenia Lifestyle Chambers Pines Project Sales Manager Lynda Ruddell said the two major differences being delivered with the innovative new homes is the traditional construction method of building the homes on site with a design that reduces the need for stairs on the homes.

“These uniquely designed homes are built on site with a design that provides the functionality of a traditional home while also providing the benefit of minimal stairs to assist with ageing in place.

“Additionally, due to the strategic placement of the homes on site the new homes are delivered under the financial benefits of the land lease model so residents are able to downsize to a more manageable home whilst still being able to take full advantage of financial assistance from the Government rental assistance on the weekly site fees,” Lynda said.

Ingenia Chief Operating Officer Nikki Fisher said the new homes offer over 50s an alternative housing solution with all the benefits of quality, speed and affordability.

“Our land lease communities are delivering a more sustainable way for downsizers to fund and retain ownership of a brand new home while providing residents other financial benefits such as no entry or exit fees and zero stamp duty, which all contributes to an improved lifestyle for downsizers,” Nikki said.

Ingenia Lifestyle Chambers Pines offers buyers brand new modular homes from $239,000 and new traditional built homes from $247,000.

Downsizers are encouraged to attend the exciting street festival event on Saturday 3 June from 10am to 2pm as Ingenia Lifestyle Chambers Pines launches its new stage development and range of innovative homes, with soulful live jazz, a selection of food trucks and advice on the downsizing process. Contact Project Sales Manager Lynda Ruddell on 0475 969 355 or visit www.liveinlogan.com.au for more information.

Ingenia Lifestyle Residents Save on Stamp Duty

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With home ownership viewed as an investment for the future, for some pensioners, downsizing the family home could be a crucial factor to free up much needed funds and retain financial independence.

Over 55s finance expert and author Rachel Lane said seniors could still re-evaluate their finances and think about what lifestyle changes could better prepare them for the future.

“Downsizing to free up assets maximises finances and by being fully aware of these options, over 55s may find themselves better off.”

When Ingenia Lifestyle resident Raelene Baillie decided to downsize, she didn’t realise how much time and money she would save.

“When I decided to make the move from Western Australia to be closer to my daughter, I considered a wide variety of housing options, including private rental, seniors’ communities and even a granny flat,” Ms Baillie said.

“In the end, nothing else provided me the security, lifestyle and independence that Ingenia Lifestyle Chambers Pines offers, and not paying stamp duty fees saved me a considerable amount of money.

“I have plans to travel more now I’m retired, and downsizing has not only freed up equity to allow me to do so, living in a gated community gives me the security to know my home and belongings are safe while I’m away.

“I thought when I retired I would have plenty of time, but I don’t have enough hours in the day to look after a yard as well,” Ms Baillie said.

For more information on Ingenia Lifestyle Chambers Pines please call Sharon Manson on 0448 165 524 or visit www.liveinlogan.com.au

The Five Question Pension Asset Test

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With more than 350,000 Australian pensioners’ hip pockets expected to be hit once Aged Pension asset test changes come into effect on 1st January 2017, its vital seniors review their income and asset mix to maximise their finances for the years ahead.

Over 55s finance expert and author Rachel Lane said now was an opportune time for seniors to re-evaluate their finances and think about what lifestyle changes could better prepare them for the future.

“Those with assets above the new thresholds are likely to see their pension reduced – and those whose assets exceed the new cut off limit will lose their pension entirely.

“Downsizing to free up assets maximises finances and by being fully aware of these options, outside of the Aged Pension, over 55s may find themselves better off.”

When Ingenia Lifestyle resident Raelene Baillie decided to downsize, she didn’t realise how much time and money she would save.

“Now that I’ve downsized, I just have a few pots in the garden which are nice and easy to look after, it just frees up so much of my time. The lifestyle also frees up a lot of money for travel – I can just pack up and go.” Ms Baillie said.

To assess the impact of the pension changes for you personally, Ingenia Lifestyle invite you to have a free assessment with the team at Village Guru. To access this exclusive invitation, sponsored by Ingenia Lifestyle, please call Village Guru on 1300 855 770 for your FREE Five Question Pension Test.

For more information on Ingenia Lifestyle Chambers Pines please phone Sharon Manson Project Sales Manager on 0448 165 524.

Ingenia Lifestyle Creating Community with Variety Qld

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Ingenia Lifestyle was proud to be a major partner in creating the Logan Lifestyle Expo, an event held in late November to connect over fifty South East Queensland local businesses, clubs and groups, volunteers and local associations with the Logan community.

Ingenia Lifestyle’s Project Sales Manager Sharon Manson said expo guests were able to view an incredible mix of lifestyle options including fitness, cars, 4x4s, caravans, boats, travel, pet services, volunteering options and demonstrations.

“All exhibitors showcased how they create an amazing lifestyle with some of the latest trends in lifestyle living,” Sharon said.

The event also saw Variety QLD partner with Ingenia Lifestyle to help raise funds and make a meaningful difference to children, families and community members who face challenges through sickness, disability or disadvantage.

“When I walk through our over 50s lifestyle communities and talk to our residents their community spirit and passion really is alive within.

“While many of our residents are retired they love to spend their time volunteering, helping the disadvantaged, performing charitable work and making selfless deeds to touch and change the lives of many people in our local communities.

“We are really looking forward to raising much needed funds with Variety QLD and hope the lucky winner of the prize can enjoy some great outdoor adventuring with their new Ingenia Lifestyle tinnie and trailer package,” Sharon said.