A unique approach to seniors living
In an economic environment where traditional models of owning a family home for life are changing, Ingenia Lifestyle is seeking to put the needs of many downsizers ‘front and centre’ with the creation of a fast-growing downsizing solution.
The land lease ownership model introduces a new living concept for over 55s while helping to protect their financial security and independence.
Lifestyle-focused land lease communities have a strong foothold in the market, setting new benchmarks and breaking down the walls of confusing contracts and complex financial arrangements.
Ingenia Chief Executive Officer, Simon Owen, said land lease living provides a transparent and straightforward ownership model that’s affordable and offers a quality solution that allows seniors to maintain their freedom while being part of a connected and engaged community.
“Land lease living is not your average retirement community. It saves seniors thousands of dollars with a more affordable price point while introducing a new housing market that is not just for retirees but for all types of downsizers.
“It’s supported via government regulations and legislation with strong levels of protection for both homeowner and operator,” Simon said.
How does it work?
The land lease model separates the ownership of the land and house, significantly improving affordability as seniors avoid paying thousands of dollars in stamp duty fees.
Residents purchase and own their home and lease the land. A weekly site fee covers the rent of the land, management and access to resort-style facilities all wrapped up within a supported and vibrant lifestyle community.
Where eligible, weekly site fees may be subsidised by government rent assistance, supporting the affordable housing model.
On departure, there are no exit fees, and the owner keeps 100% of any capital on their home.
“As a leading owner and operator of lifestyle communities, Ingenia Lifestyle is proud to deliver a solution which provides financial peace of mind, comfort and security. Ingenia also offers many free lifestyle benefits including a social activity program, care and wellbeing concierge and holiday discounts through our Ingenia Holidays portfolio.
“In everything we do we focus on our residents – from ensuring that entering and exiting our communities is an easy and transparent process to providing activities, facilities and a supportive environment within our communities that can cater to their individual needs. The land lease model is a simple, competitive, and transparent housing model, which meets the needs of many seniors,” Simon said.