Downsizers ride the property wave
Leading land lease community developer Ingenia Lifestyle continues to defy the odds by beating the property slump in New South Wales, with 2018 seeing some of the best increase in sales in the company’s six-year history.
With a favourable land lease model – where residents own their home and lease the land – and with zero stamp duty fees, Ingenia Lifestyle presents over 55s with an affordable way to own their own home while increasing their disposable income to indulge other lifestyle pursuits.
The popularity of the model comes at a time when the residential property market is reaching peak levels, prompting over 55s to fast-track their downsizing plans so that they can achieve the highest sale price possible and fund a more comfortable future.
Like many local downsizers, Neil and Shirley Meagher purchased a home in Ingenia Lifestyle’s Lake Conjola community after looking at a number of lifestyle communities, and were drawn to the financial gains that comes with the land lease ownership model.
“We’ve visited Lake Conjola in our caravan for the past few years – why wouldn’t we want to live in a holiday destination and free up our finances to go on further adventures?” Mr Meagher said.
“We wanted to live somewhere that suited our goals for our retirement and spend precious time and money on things we enjoy and have always wanted to do.
“The money we had planned to use to pay for stamp duty we have now put towards a ‘once-in-a-lifetime’ holiday to The Kimberley.”
Ingenia Chief Operating Officer Nikki Fisher said by avoiding the property slump in NSW, grey nomads were hitting the lifestyle jackpot by investing in homes with Ingenia Lifestyle communities across the state.
“Ingenia Lifestyle’s communities – particularly in suburban areas and coastal fringes – are not following the property low in the state,” she said.
“In fact, the end of 2018 saw the strongest period of new sales we’ve ever seen.”
“Residents who make the move into lifestyle communities are looking for more than security and low-maintenance living,” she said.
“They are after lifestyle – they can enjoy their golden years prioritising their lifestyles, memories and ‘once-in-a-lifetime’ experiences that all comes with freeing up their time and money downsizing into a land lease community.”