Lara | News

Community living draws downsizers to Lara

Ingenia Lifestyle Lara has experienced strong demand for its community living as locals make the move to downsize their homes and live financially worry free. 

Lara has become a hot spot for savvy home buyers due to its perfect position between Melbourne and Geelong – reported as one of Greater Geelong’s fastest growing suburbs with the median sale price increasing by 12 per cent in the last financial year.

Ingenia Lifestyle Lara Project Sales Manager Dianna McGrath said more than 300 residents already call the community home, which has now begun selling into its last stage, releasing an exciting range of new home designs.

“We recently released an additional 13 homes with 60 percent of the stage now reserved and significant demand from downsizers looking to secure the last remaining homes at Ingenia Lifestyle Lara,” Ms McGrath said.

“A major feature of the new design has been the position of the homes – there is just one step up in the front and back of the home and a zero-level transition from the garage to the house.

“This feature has been popular with downsizers looking for a forever home – they can age-in-place without having to worry about managing stairs.

“This unique design in addition to our resort-style facilities and location enables our residents to live their dream lifestyle and feel like they are on holiday year-round.”

Median house prices in Lara ($535,000) are almost double the $299,000 starting point of homes at Ingenia Lifestyle Lara – a clear saving for downsizers looking to translate their home equity into cash.

Ms McGrath said the over 55s lifestyle community was designed to meet the demand from these downsizers looking to improve their finances as well as their lifestyle.

“What’s a winning factor for downsizers is the land lease ownership model and the absolute simplicity of it,” Ms McGrath said.

“Ingenia Lifestyle’s unique model allows downsizers to purchase a brand new home with no exit or DMF fees, no government fees (stamp duty and council rates) and keep 100 per cent of any capital gains on resale.

“Residents may also be able to access government rental assistance to help cover ongoing site fees –which cover the cost to lease the land – making it a very affordable long term housing option.”

For more information on the growing community and the latest stage release at Ingenia Lifestyle Lara visit www.liveinlara.com.au.