Land Lease Communities are growing in popularity all over Australia with some states offering more than 500 communities. Are they a solution to affordable housing? Let’s take a look.
What Are Land Lease Communities?
A land lease community gives you the chance to own a building, without buying the land – which is usually the big expense when purchasing property. It’s an opportunity to live in modern housing in desirable locations. More importantly, it’s for a fraction of the price of purchasing a traditional land and house package. It’s a way to supersize your lifestyle while downsizing your living space.
It comes with the services you want, and the facilities you need but without all the work. These facilities include sports facilities, libraries, swimming pools, clubhouses, tennis courts, walking trails, bowling greens, and landscaped gardens. A land lease community provides you with a safe environment, an affordable home, and the freedom to enjoy life.
Is It The Solution To Affordable Housing?
Land lease communities are a more affordable housing choice. You can live in a lovely home, whether you prefer the country, city, or living on the coast. You will find land lease communities throughout some of Queensland’s most beautiful spots. There, you will find a sense of connection with other residents and benefit from a variety of amenities. It’s a relaxed way of living free from financial stress. There’s no need to purchase land; you simply pay a site fee to lease the land where your home sits and gain access to the facilities and services.
According to a report from Downsizing, land lease communities can be up to 70% cheaper than median house prices, and with the stamp duty savings, residents could save thousands. There are no council fees to pay or entry/exit fees. Some pensioners are eligible for the Commonwealth Rental Assistance, which will help pay for the site fees. The demand for safe, well-located housing is high. Given the land shortage in these popular areas and the rise in demand for retirement living, a land lease community could be the solution. If you want to learn more about land lease communities, contact McGees Property today.
This Article is for general information only and should not be relied on as advice. You should consider your personal situation and seek advice that is specific to your circumstances before making any decisions based on this information. Liability limited by a scheme approved under Professional Standards Legislation.
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Disclaimer: The information provided in this blog is for general informational purposes only and does not constitute legal, financial, or professional advice. While we strive for accuracy, we make no guarantees regarding the completeness or timeliness of the content. Always seek independent advice before making any financial or real estate decisions. We are not liable for any loss or damages arising from your reliance on the information provided.
Liability Limited by a Scheme approved under Professional Standards Legislation
