Lara community expands to offer downsizers more affordable housing

On Thursday 25 February Ingenia Communities and City of Greater Geelong Councillor Kylie Grzybek geared up to turn the first sod on a major expansion project at the popular seniors’ land lease community Ingenia Lifestyle Lakeside Lara – previously known as Ingenia Lifestyle Lara.

The community expansion will bring 174 brand new home sites, new display village and new community hub – incorporating a second indoor swimming pool, BBQ facilities, consultant rooms lounge and multi-purpose rooms for group and social activities.

Ingenia Communities Victoria Senior Development Manager Colin Greaves said the Victoria based over 55 community had proven extremely popular with local downsizers and the new expansion was an opportunity to meet a demand for affordable housing options.

“The first release of homes were quickly snapped up by keen buyers and with the region continuing to grow, we knew we needed to expand and provide a downsizing option that would help retirees live with less financial stress,” Mr Greaves said.

Savvy downsizers will have an opportunity to live in the thriving region with the first homes of the Lakeside expansion set to be completed as early as September 2021.

“The Geelong area is becoming a sought-after region, with up to 25 per cent of people living in the area being made up by older couples and families,” Mr Greaves said.

“The main attraction for buyers has been our ability to offer our residents a lifestyle they’re searching for, at an affordable price point.”

House prices in the expanded community will start from $339,000 for a two-bedroom home, allowing downsizers the opportunity to free up significant money to put towards their new lifestyle.

The community offers the advantage of no stamp duty fees and no DMF or exit fees, making it a significantly more affordable option to traditional housing and retirement villages.