Your downsizing options at a glance… As you plan your next step it is important to understand and consider the financial outlay attached to each downsizing option. Land Lease Community
(Based on a NSW Ingenia Lifestyle community)
Retirement Village
(Loan/Licence or Loan/Lease Agreement)
Stamp Duty
Entry Fee
Rental Fees
Government Rental Assistance
Council Rates
Exit Fees
Asset Ownership
Selling through traditional methods
Capital Gains
As you only own the home not the land you do not have to pay Stamp Duty.
The only entry fee is the cost to purchase your home.
The fee covers the rent of the land and the maintenance of communal amenities and community grounds.
Standard accessibility criteria applies.
As you do not own the land you do not pay Council rates.
Purchasing a home
As you purchase through a right to occupy contract you do not own the home or land.
This cost varies based on current market values, home specifications, the specific village, and its amenities.
A recurrent charge covers the costs, expenses and outgoings the Operator may incur with ownership, occupation, operation and administration of the village.
Sometimes Only applicable if the entry price is below $203,000.** Not applicable on strata-based contracts. As you do not own the land you do not pay Council rates.
This may include Deferred management fees and/or refurbishment costs.
You own the home but not the land.
You are not restricted as to who may sell your home, as it may be sold privately, through a Real Estate Agent or you may engage the Operator to sell for you. You keep 100% of any capital gains on the resale of the home.
This contract is a right to occupy and does not include ownership of the land or home. Some restrictions may apply to the sale of your home.
This can be village dependant. Sometimes you can receive a percentage of the capital gains.
A government tax for when you buy a property. This is a sliding scale percentage based on your purchase price. The only entry fee is the cost to purchase your home.
As you own the home Government Rental Assistance does not apply however you may be eligible for other assistance schemes.
This varies based on location and is calculated on the value of land.
You own the land and home.
Commonly sold through a traditional Real Estate Agent.
On both the land and home.
*Information is correct at time of print and is provided as a guide only. We advise you to conduct your own research as information can vary greatly based on situation. Source: Land Lease Living Industry Association NSW. (2018). Land Lease Living. https://view.joomag.com/land-lease-living/ M0621203001530068405 ** Information accurate at time of print and based on July 2017 guides.
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