Latitude One | News

Where to find your new lifestyle for under $500,000

It’s the question on every downsizer’s lips. “Where can I purchase a brand new home for under $500,000 and still have enough cash left over to enjoy my golden years?”

It’s no secret Australia is seeing a silver tsunami of over 55s seeking a more suitable place to live, and while housing affordability is generally considered a young person’s issue where they face restrictions entering the market, it is also a major problem for downsizers.

A recent Productivity Commission report into the housing decisions of Baby Boomers found only about 10% of these Australians currently chose to move to smaller dwellings.

The main barrier to downsizing was the availability and affordability of homes for the over 55s.

However, with the emergence of the land lease ownership model delivered by companies such as Ingenia Lifestyle, downsizers are finding this new alternative an increasingly popular option to unlock the equity from their existing dwelling and fund the next stage of their life.

The unique model allows downsizers to purchase their own home and lease the land through one simple site fee covering the maintenance and management of the community.

Along with operational strategies keeping residents safe, social and secure, Ingenia Lifestyle is helping residents to maintain an independent lifestyle with more choice, control and flexibility while feeling financially in control and improving their overall wellbeing.

The other big benefit for downsizers has been the increased protection for residents who are covered by relevant state-based residential land lease communities legislation which governs the industry and seeks to promote fair operational trading practices.

Another winning factor has been the affordable price point for a new home available in some of the country’s highly sought-after locations, including in Port Stephens just 20 minutes from Newcastle Airport, at Latitude One where brand new homes start from $445,000 in the picturesque suburb of Anna Bay.

Downsizing for under $500,000 while enjoying the benefits of a sea change, tree change or keep connected to metro locations can be made possible with Ingenia Lifestyle.