Albury seniors take advantage of price spike and downsize early
Demand for community lifestyle living has grown at Ingenia Lifestyle Albury as New Year’s resolutions trigger locals to downsize their homes in 2018 and take advantage of community living.
In the past 12 months, median house prices have seen an annual growth rate of nearly five per cent ($50,000) in the New South Wales City of Albury – a clear indication of buyer demand in the area.
Ingenia Lifestyle Albury residents Barry and Sue Keenan, are lapping up life, after downsizing earlier in their retirement from their large family home – freeing up much needed funds to retain their financial independence for a more enjoyable lifestyle.
“For almost 30 years we raised the family in a four-bedroom house, with a reasonable yard, two bathrooms and quite a bit of furniture,” Mr Keenan said.
“However, the old house needed a lot of maintenance, up to $20–$30K worth of work to be done. So, the question was, did we want to do this now, or sell up and let the buyer update the home in their style.”
Mrs Keenan said she had no regrets making the decision to move and it was the best thing to happen to them.
“We have now been through the move and it was a massive job, but we didn’t want to have to do this in 10 years’ time, so we thought we may as well do it now while we are younger.
“It’s a big weight off our shoulders and the stress of having to always do things around the house is now not there,” Mrs Keenan said.
Median house prices in Albury, NSW ($505,000) are more than double (61 per cent) the $195,000 starting point for the nearby Ingenia Lifestyle Albury community.
Ingenia Lifestyle Sales Manager Megan Collins said the unique land lease ownership model allowed downsizers to unlock more equity and fund a lifestyle they had always dreamt of.
“As prices continue to rise in Albury, now is an opportune time to kick your New Year’s resolutions into gear and enjoy a better lifestyle,” Ms Collins said.
“We’ve had many residents say they wished they had moved into the community sooner, so that they could actually enjoy the lifestyle they had worked so hard to achieve.
“The major drawcard for buyers has been Ingenia’s innovative ownership model, where owners are not required to pay stamp duty, exit fees or council rates and can purchase a new home at a more affordable price point.”
Local seniors looking to explore the land lease ownership model and how they can take advantage of downsizing, are invited to attend an our next Open Day on Saturday 10 March from 10am to 2pm. To RSVP, call Megan on 0459 955 122 or visit www.liveinalbury.com.au.