The benefits of Land Lease Communities compared to a Retirement Village

As we get older many of us start to ponder the questions “how much does it cost to live in a retirement village?”, “how do you pay for a retirement home?” and “how does over 55s living work?”

There are a number of options available to you when you make your decision to move to your next phase of life. Hometown Australia differs from your typical retirement living scenario in a number of ways, offering what is referred to as land lease living, which has numerous benefits.

Firstly, many of our Hometown communities welcome over 50s. This provides greater opportunities for active, independent residents that may still be working part or full time to enjoy the wonderful lifestyle we offer.

Secondly, there’s no stamp duty payable on the purchase of your home, which can be a real boost to your budget. It amounts to quite a saving when the Property Council of Australia suggests you can spend up to $75,000 in stamp duty and other costs downsizing your home. Many of our residents use these savings to buy a caravan or boat and explore the country. They can enjoy the freedom of not having to worry about maintenance in a house that allows them to lock-up-and-leave and go travelling whenever they feel like it.

With land lease living you own your home and lease the land on which your house is located, as opposed to traditional retirement villages where you pay for the right to live in a home but you don’t own it. When it comes to capital gains, you keep 100% of any profit made on the sale of your land lease home, compared to many retirement living options where your retirement village operator may share some or all of the profits upon sale.

Another benefit is that Hometown Australia doesn’t charge exit fees, whereas in a retirement village you may pay exit fees which are usually accrued over time, ranging from 25-50% based on either the purchase or sale price of your retirement home.

If you receive any government pension you may be eligible for rental assistance at our Hometown communities which can then be paid towards the cost of your site fees. As a pensioner at a retirement home you may only be eligible for rental assistance if you paid less than $216,500 to enter the village (as at 1 July 2021).

Unlike most retirement villages which charge council rates, Hometown land lease living doesn’t require you to pay council fees. Conversely, at a retirement village you may pay fees to the owners’ corporation and the village operator for operating expenses and any additional private services.

Perhaps most enticingly, at Hometown we’re experts in creating vibrant lifestyle opportunities for over 50s, with more than 10,000 happy residents across more than 52 communities throughout NSW, Queensland and South Australia. Our communities are welcoming, excellent value for money and filled with wonderful amenities that enrich your quality of life.

You’ll enjoy an active social calendar with our great range of activities on offer, from swimming pools, clubhouses, barbeque areas and glorious grounds to community buses, libraries, gyms and sometimes even a bowling green and cinema.

While the calibre of our amenities is integral to Hometown’s long and successful track record and excellent reputation, we’re also widely renowned for our professional management, our active community involvement and our good citizenship and corporate responsibility.

From the country to the coast, our locations are carefully selected for their beautiful natural surroundings or their urban vibe, with proximity to essential services being of paramount importance. You can choose from quality new or pre-loved homes all thoughtfully designed to suit your needs and your budget. It’s a truly exciting way of living where you can enjoy a fabulous lifestyle in a beautiful location with no strings attached.

So if you’ve been wondering about getting into a retirement village in Port Stephens, seeking a sea change on the Central Coast, toying with the idea of moving to Coffs Harbour or dreaming of kicking back and relaxing on the Sunshine Coast, take a closer look at our land lease solution. We’ve got established communities in all of these wonderful places and many other desirable destinations around the country.

Hometown has an unwavering commitment to enhancing our residents’ experience, promising responsive service, personal respect and well-maintained, fairly priced living environments. We understand exactly how to create a desirable lifestyle for those seeking independence, an active, vital way of life and a range of fabulous facilities and social activities that offer something for everyone.