Empty Nesters Make the Most of Their New Lifestyle

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It’s been widely reported that, as Australia’s ageing population increases, so do a range of implications for seniors choosing to live out their retirement in their cumbersome homes.

An empty nester home can mean many seniors may struggle to fund and support a new lifestyle, especially if the majority of their fixed income and time is spent maintaining a home that is no longer suitable to their needs.

Ingenia Lifestyle Albury Project Sales Manager, Megan Collins said downsizing and moving to a smaller, more manageable home generally provides the chance for seniors to free up both capital and time, while securing more age-appropriate accommodation.

“You will be surprised at how reducing the size of your home also cuts down on your daily chores and maintenance, freeing up your time for leisure activities, spending time with your family and getting more well-earned rest,” Megan said.

Albury couple, David and Pauline Kaddatz had been living in their large home for 38 years.

The kids had left years prior and it was just the two of them living in a large three bed home with big yard and shed out the back.

“We became attached to the clutter but had to let things go. And once we knew what our future was going to look like we knew we had to get rid of the stuff.

“When it came time to sell the home, it sold in a week so that part wasn’t hard.

“Even though we still work, downsizing has meant there is less maintenance to do, we are more relaxed and there is more time to ourselves. We go out and explore the region so it’s like being on holidays.

“Albury has everything here, shopping, medical facilities, it’s located close to Sydney or Melbourne and for great day trips, you’re near the snow, Murray River, Hume Dam and lake, mountains, wineries, clubs and sporting facilities.

“We often go for a drive and choose north, south, east or west there is so much to see,” Pauline said.

Ingenia Lifestyle Albury has brand new homes selling from $195,000. Call Megan Collins on 0459 955 122 or for more information please visit www.liveinalbury.com.au

 

The Downsizer Contribution: A tax-free incentive to fund a comfortable retirement

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If you’re picturing an ideal retirement but uncertain if your savings are enough to carry you through, the Australian Government has a new incentive aimed specifically at downsizers aged over 65.

From 1 July 2018, eligible seniors can take advantage of the Downsizer Contribution which encourages home owners to sell their empty nester asset and use the proceeds to top up their superannuation with a one-off contribution.

Seniors lifestyle and finance expert and author, Rachel Lane, spends time travelling across the country educating seniors on the variety of living options available for downsizers.

With the commencement of the new government incentive, Rachel advises seniors to do their research and seek advice about the personal implications before rushing to put the ‘For Sale’ sign up on their home.

“While the new Downsizer Contribution is a tax-free solution to funding a more secure retirement, there are two major factors for seniors to consider.

“Firstly, seniors need to do their research on what suitable accommodation choices are available for them and secondly, is investing in superannuation the best solution as it can affect your pension entitlements.

“Unlike previous proposed downsizing incentives this new one has no exemptions applied to the asset or income test which means making extra contributions to your super can affect your pension.

“As a general rule the income test bites you first but the asset test bites you harder, if the money from the sale of your house has pushed you over the asset threshold ($547,000 for singles and $823,000 for couples) by $100,000 then your pension would reduce by $7,800 per year so obviously the superannuation would need to earn 7.8% after fees and tax just to replace the lost pension,” Rachel advises.

How can I make the downsizer contribution work for me?

How can I make the Downsizer Contribution work for me?

The Downsizer Contribution enables a self-funded retiree to sell the family home and structure their financial affairs to maximise superannuation income.

For seniors looking to downsize into a lifestyle community the Downsizer Contribution also means they can take up the incentive while potentially gaining access to more government entitlements.

Ingenia Chief Operating Officer, Nikki Fisher said the incentive will help seniors get out of their asset rich, income poor situation, which many older Australians find themselves in now.

“By making a tax-free super contribution senior Australians have a real opportunity to fund a more secure retirement, free up the equity from their homes and boost their super balance at the same time, by up to $300,000 for an individual or $600,000 for a couple.

“Considering the average super balances at retirement are $270,710 for men and $157,050 for women, adding an extra $300,000 into a super fund would more than double (for men) and almost triple (for women) those super balances.

As a leading owner, operator and developer of affordable seniors housing communities in Australia, Ingenia’s lifestyle portfolio is certainly responding to the needs of downsizers who are looking to purchase a more suitable place to retire in.

“Ingenia Lifestyle’s innovative land lease ownership model delivers a very viable option for those seniors looking to downsize and access the incentive with a low entry cost to purchase a new home, the elimination of stamp duty fees, no exit fees and residents keep 100% capital gains made on the home.

“Low ongoing costs mean residents can make their super last longer, additionally, purchasing a brand new home in a land lease community like Ingenia Lifestyle may enable eligibility for rent assistance giving seniors access to more government funding,” Nikki said.

Rachel Lane Case Study: Sue and Garry from Greenacre

Sue and Garry decide to sell their three bedroom home in Sydney’s inner western suburb of Greenacre and achieve $1 million on the sale.

They make a sea change and purchase a brand new home in a land lease community such as Ingenia Lifestyle Lake Conjola for $330,000. They both contribute to their super $600,000 of tax free dollars.

After downsizing Sue and Garry have $70,000 in cash to purchase a caravan or go on a holiday knowing they have secured their future, their home is being looked after while on the road and they come back to a lifestyle community with social and wellbeing programs. They are also an extra $10,734 better off each year in income.^

  Stay in place                Downsize and make a tax-free super contribution
Pension $35,568 pa $13,000 pa
Rent Assistance Nil $3,302 pa
Superannuation Contribution earnings Nil $30,000 pa*
Income per annum $35,568 pa $46,302 pa

Plus a new home and $70,000 in cash to fund their new lifestyle

*Assuming their new super contribution of $600K is earning 5%pa
^We recommend you seek professional advice from a financial planner who specialise in seniors finance. Our figures have been supplied by Rachel Lane from Village Gurus.

Am I eligible for the Downsizer Contribution?
To be eligible, downsizers must answer yes to all of the following:

  • You are 65 years old or over at the time you make a downsizer contribution (there is no maximum age limit)
  • The amount you are contributing is from the proceeds of selling your home where the contract of sale was exchanged on or after 1 July 2018
  • Your home was your primary place of residence, owned by you or your spouse for 10 years or more prior to the sale
  • Your home is in Australia and is not a caravan, houseboat or other mobile home
  • The proceeds (capital gain or loss) from the sale of the home are either exempt or partially exempt from capital gains tax (CGT) under the main residence exemption, or would be entitled to such an exemption if the home was a CGT rather than a pre-CGT (acquired before 20 September 1985) asset
  • You have provided your super fund with the downsizer contribution form either before or at the time of making your downsizer contribution
  • You make your downsizer contribution within 90 days of receiving the proceeds of sale, which is usually the date of settlement
  • You have not previously made a downsizer contribution to your super from the sale of another home.

Contact Ingenia Lifestyle Today

If you would like to know more about the Downsizer Contribution you can contact our Project Sales Team on 1800 135 010 or contact us online here.

 

New $75 million community breaks ground at Coffs Harbour

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Ingenia Lifestyle has celebrated the official start of its second Star Collection community, Plantations, located in the seaside town of Woolgoolga on the NSW mid-north coast.

The momentous occasion was marked with a breaking ground event on Friday 4th May as Ingenia CEO, Simon Owen and official dignitary, Mayor of Coffs Harbour City Council, Denise Knight, turned the first sod, along with members and contractors from the project team.

Simon said the addition of Plantations added to the new range of Star Collection communities which provide gold-class resort facilities in an affordable lifestyle setting.

“We have recorded strong sales at our first Star Collection community further south in Port Stephens at Latitude One and our South West Rocks community has now sold out,” Simon said.

Coffs Harbour Mayor Denise Knight said Plantations was a great investment into the local community and provided a more affordable seniors living solution for many years to come.

“Coffs Harbour is so lucky to have this new community in our region, facilities such as the ones Ingenia is set to provide can only attract more seniors looking for a sea change.

“This different type of housing model truly compliments the Coffs Harbour lifestyle and offers downsizers more choice, control and flexibility in their retirement,” Cr Knight said.

Set on 19.5 hectares Ingenia’s new land lease community will deliver 196 homes, with 68 homes and a display village all set to be delivered within the first stage.

If you think you’re ready to downsize, free up some money and love more out of life, become a VIP First Choice Club member and reserve your new lifestyle today. Registrations are now open!

For further information please contact Wendy Hobson on 0448 714 021 or visit www.liveincoffsharbour.com.au to enquire.

Local Men’s Shed building awareness for Men’s Health

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Men at Ingenia Lifestyle The Grange have rallied together in a bid to break down the stigma surrounding mental and physical health for men, which also coincided with Men’s Health Week in June.

The Australia wide campaign encourages communities and organisations to come together, raise awareness and discuss some of the key health issues facing men.

Village Manager Bethany Jones said residents were passionate about generating as much awareness as they could to help put a stop to the stigma surrounding men’s health.

“Men’s Health Week helps to shine a light on some of the key health issues facing men and how we need to be talking about these, not just this week, but year-round.

“Here at The Grange, our male residents banded together to start their own men’s shed as a way to build friendships and to encourage more men to talk about their health – they also keep themselves busy with handy projects around the community, such as restoring furniture.”

“Our community’s Men’s Shed has become a popular gathering for residents to get together, check in on both your physical and mental health, and have a cuppa and a chat with each other.

Resident of Ingenia Lifestyle The Grange, 68-year-old Phillip Tengdahl, said the group started seven years ago to create a sense of camaraderie within the community.

“Getting together has created a lifeline for some of the men, this camaraderie group will last a life time – the Men’s Shed allows us to interact with others who are at the same stage of life as us.

“Men don’t always know how to reach out, so having a place where we can regularly catch up means we can check in and build new friendships with our neighbours.

“I never really thought about men’s health and the stigma around it – I always thought “she’ll be right”, but it wasn’t until I was diagnosed with type two diabetes that I really read up on the importance of men’s health. It was shocking to know that statistically, men die younger,” Phil said.

Seniors put bowling skills to the test at Chambers Pines

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Keen lawn bowlers at Ingenia Lifestyle Chambers Pines have taken advantage of the community’s brand new $3 million clubhouse with brand new, competition-grade lawn bowls facility.

Every Tuesday and Thursday evening residents host lawn bowls nights for residents to get together for a friendly game, a few laughs and an easy workout on the new green.

The physical and mental health benefits for seniors who play lawn bowls comes in an abundance, with the sport offering low impact cardiovascular fitness, hand and eye coordination support, as well as mental wellbeing and social support.

Project sales manager Lynda Ruddell said residents loved getting together with each other weekly for a friendly game of bowls, which occurs in the evening.

“The residents look forward to heading down to the bowling green each week, their passion for the game is contagious – they know how to play but they don’t take it too seriously.

“Having facilities available for the residents makes such an impact on their physical and mental health, the low impact exercise and the social aspect has majority of the residents out and about,” Lynda said.

John Keeble and his wife Margaret learned how to play bowls from fellow residents after moving into the community more than 12 years ago and have been instrumental in teaching new residents how to play lawn bowls.

“We wanted to be part of a safe, fun community and as soon as my wife and I moved in we became interested in a number of the activities on offer, but bowls is by far our favourite,” John said.

“Over the years, more and more people have become interested in the game, we can have upwards of 15 people at every game. We have such a great time, I think we have more laughs on the green than anywhere else in the community.

JOHN’S TIPS FOR FIRST TIME LAWN BOWLERS:

There’s a bit of skill behind lawn bowls, but for social bowls there are no strict rules. Here are some of John’s best tips for a good game:

  • It doesn’t matter if you aren’t the best bowler, there are residents who are really good and others who are still learning
  • Make it fun and get a bit of exercise or go along as a get together with your community
  • Get your own bowls and get the right size. There’s different sizes and lots of people can’t handle the bigger bowls
  • The speed you choose is the ultimate, if you don’t get the speed right you can end up in the ditch at the other end or 20m too short
  • The biggest thing then is learning the distance to the jack
  • Get the direction or amount of bias right. Everyone has their own bias, the rate that it’ll turn at the end of the green
  • Learn to get your bowl on the correct lane, some bowls can go a little haywire, but we just pick it up and move it across
  • Play more and improve your game. There’s no such thing as a bad student!

Ingenia Lifestyle Announced as Finalists in the 2018 Retirement Living Awards!

It’s with great excitement and well-deserved applause we announce the following team members and projects have received a prestigious finalist award nomination at the 2018 National Retirement Living Awards by the Property Council of Australia.

Ian Thompson, QLD Finalist, Village Manager of the Year (Ingenia Lifestyle Chambers Pines)
Dianna McGrath, Finalist, Sales Person of the Year (Ingenia Lifestyle Lara)
Latitude One, Finalist, Marketing Excellence Award  

Dianna was humbled by the recognition as a finalist for Sales Person of the Year. “After reading the final submission and testimonials I feel honoured and feel like I am a winner already!”

Ian agrees with Dianna. “How could you not think any other way. Working with such a diverse, talented team within Ingenia means we deliver dynamic premium lifestyle living outcomes for our residents.”

Finalist for the Marketing Excellence Award, Latitude One, received a nod for its three-phased launch campaign and educational and awareness journey about Ingenia Lifestyle’s innovative land lease ownership model.

The National Retirement Living Awards recognise the contribution and achievements across all areas of the retirement living sector, by the people and companies helping to ensure senior Australians have an enjoyable retirement.

The national winners will be announced later this year, good luck to all of our nominees!

Lake Conjola’s first residents keen to lap up retirement

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Ingenia Lifestyle Lake Conjola is well on its way to becoming a thriving community, with its first residents already settled in their new home and keen to make the most of their retirement.

When Karen Steins and her husband Jeff made the decision to downsize in their local area, making the move to Ingenia Lifestyle Lake Conjola, they weren’t expecting how much they’d love the community and the new lifestyle that came with it.

“We have always lived on big blocks of land – our last home we’d lived in for 18 years. A big part of our five-year plan was to downsize and move into a home we loved that didn’t require a lot of maintenance.”

“We moved into our two-bedroom plus study (Eucalyptus floor plan design) home earlier this year – we could not be happier – we have all the room we need, we absolutely love our home.”

“We had looked around for a little bit before we came across this wonderful area, and although the lake is beautiful, we loved that there wasn’t any hidden stipulations and we were confident taking this next step in our life – owning our own home.

“We were in our caravan for a few months before we moved in, so we’re waiting until the end of the year to go travelling again. We love that we’ll have the opportunity to travel more – we can just lock up our home and know that everything is safe and being looked after in the community.”

Ingenia Lifestyle Lake Conjola residents will have access to a brand new resort-style clubhouse with a gym, pool, lounge and outdoor entertaining spaces with putting green and alfresco barbeque facilities which is all set to become the social and entertainment hub for resident events and gatherings.

“The new clubhouse is currently under construction, my husband Jeff and I are looking forward to the activities, I know he’ll be at the new putting green all time – we just can’t wait, it’s very exciting!”

Ingenia Lifestyle Lake Conjola Project Sales Manager Catherine Brasier said Lake Conjola has proved popular among downsizers given its ideal location and lifestyle.

“The Ingenia team is very excited to welcome our first residents and we are looking forward to meeting all our wonderful new residents,” Catherine said.

“With so many of our homes in stage 1A and 1B already snapped up by downsizers, we have just released a selection of new homes in stage 2A – ahead of schedule, just to keep up with the booming demand.

“Our location really says it all, residents have the luxury of a quiet, tranquil seaside community that’s within easy access to all the major amenities in the Shoalhaven region.”

Lara Community Opens the Door to its 150th Home!

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Ingenia Lifestyle Lara has celebrated an important milestone as the community continues to grow and welcome new residents into their homes.

Guests, residents and team members marked the 150th new home with a special occasion and an afternoon of fun in the clubhouse which also holds a special place for the residents as it assists in creating an active community.

Downsizers Reno Denicoli and his wife Helen moved into Ingenia Lifestyle Lara 12 months ago and instantly fell in love.

“The amenities are what drew us in – it really was love at first sight – the aquatic centre and the billiards room; the facilities are up there with the best. It tipped the scales for us choosing to live at Ingenia Lifestyle Lara.

“We lived in Hoppers Crossing in a large home for 26 years before deciding to downsize and move to a lifestyle community.

“This is community living with privacy and we have peace of mind that comes from living with likeminded people.

“There is a real community spirit where we help each other which is great for building relationships.

“A resident here is a retired builder and he helped me around the house so in return I helped him connect up his wireless printer.

“There are different people but the common dominator is many of us have come from country living,” Reno said.

Lake Conjola community welcomes its first residents

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Ingenia Lifestyle Lake Conjola is well on its way to becoming a thriving community, with its first residents already settled in their new home and more than 70% of Stage 1A and 1B already snapped up by keen downsizers.

When Lake Conjola locals Karen Steins and her husband Jeff made the move to Ingenia Lifestyle Lake Conjola in April 2018, they weren’t expecting how much they’d love the community and the new lifestyle that came with it.

“We have always lived on big blocks of land – our last home we’d lived in for 18 years. A big part of our five-year plan was to downsize and move into a home we loved that didn’t require a lot of maintenance, we could not be happier – we have all the room we need, we absolutely love our home.” Mrs Steins said.

“We had looked around for a little bit before we came across this wonderful area, and although the lake is beautiful, we loved that there wasn’t any hidden stipulations and we were confident taking this next step in our life – owning our own home.

“We were in our caravan for a few months before we moved in, so we’re waiting until the end of the year to go traveling again. We love that we’ll have the opportunity to travel more – we can just lock up our home and know that everything is safe and being looked after in the community.”

To showcase the community’s success and celebrate its first residents, Ingenia Lifestyle Lake Conjola is throwing open its doors on Saturday 19 May from 10am until 12noon to locals looking to experience the community lifestyle for themselves.

Ingenia Lifestyle Regional Sales Manager Rachel Pullicino said the open day was the perfect time for downsizers to explore the community and experience first-hand the community life at Lake Conjola.

“With our very first residents moving in, our open day allows locals to talk with our new residents and see why they made the move to Lake Conjola,” Ms Pullicino said.

“Lake Conjola’s popularity among downsizers, from both the local region and those seeking a sea change is on the rise, with our community set to welcome many more new residents in May and June.

“With so many of our homes in Stage 1A and 1B already snapped up by downsizers, we have just released a selection of new homes in Stage 2A ahead of schedule, just to keep up with the booming demand.

“Our location really says it all, residents have the luxury of a quiet, tranquil seaside community that’s within easy access to all the major amenities in the Shoalhaven region.”

Brand new architecturally designed homes in Stage 2A are available from just $325,500, featuring modern kitchens, open plan living and dining areas, plus an integrated outdoor space. Click here for more

The Benefits to Downsizing in Your Early 50s

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Making the move in their early 50s has allowed Ingenia Lifestyle Bethania downsizers, Lynette and and her husband Peter, more flexibility, security and the ability to make new friends.

Since downsizing from their New Farm property, Lynette and  Peter have been able to travel for up to eight months at a time knowing that their home was secure.

“We downsized into Ingenia Lifestyle Bethania when I was just 48 years-old and my husband had not long turned 50 and used it as our base while we travelled around Australia,” Mrs Ward said.

“It was great downsizing when we did – we were able to be close to family and still have the flexibility to travel where we wanted.

“Knowing that if we choose to go away for a weekend – or longer – that our home is safe and that our neighbours are keeping an eye on it for us was also a major drawcard for us when choosing where to downsize to.

“We have great neighbours here at Ingenia, but they are more than that; they are now some of our closest friends.”

For more information about Ingenia Lifestyle Bethania please contact Leanne Tate on 0459 872 261 or visit www.liveinbethania.com.au