Senior living finance expert and author, Rachel Lane urges seniors to pay close attention to median house prices in their area and affordable housing price points to get a better sense of the type of cash reserves they might be able to access.

“Ingenia Lifestyle Stoney Creek in Marsden Park, is an innovative seniors community offering affordable and flexible living options that appeals to many over 55s.

“There are brand new homes selling from just $300,000, which are priced at half of Windsor’s median house price of $598,000[1] and Blacktown ($661,000[2]),” Ms Lane said.

According to Ms Lane, there is another great confusion amongst many people about the types of affordable housing available.

“Senior homeowners looking to downsize needn’t be competing in the private market against homeowners and investors, which is a common fear, as there are a variety of traditional and new home options to suit.

“Lifestyle-focused manufactured home estates, for example, are one of the newest catering to this specific market.

“While the homes on offer are of an increasingly high quality, the entry price point is kept low since residents lease, rather than own the land, with weekly fees in the $120-$160 range. This pricing model eliminates the need to pay stamp duty, entry and exit fees and in some cases, the resident is then eligible for rent assistance.

For more information on Ingenia Lifestyle Stoney Creek visit www.liveinmarsdenpark.com.au

[1] Residex Suburb Report – Windsor 2756 NSW http://www.residex.com.au/free-report

[2] Residex Suburb Report – Blacktown 2148 NSW http://www.residex.com.au/free-report