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Navigating the community living market can be daunting.
Papillon Living is here to guide you on your journey
Navigating the downsizing market and moving into community living can be daunting.
Papillon Living is here to guide you on your journey
What are my options?
When you're considering a move to a community living environment, it can be confusing to understand the differences between "Over 55s Living," “Land Lease Living”, "Retirement Villages" and “Aged Care” also known as “Residential health care”?
Here's a basic breakdown:
Land Lease
Land Lease Living is typically a community, designed for people aged 55+ who may not yet be retired yet, still active and social, looking for a fun and safe community to be a part of.
Land lease communities often provide social interaction, connections & friendships with like minded people as well as easy access to landscaped gardens, tennis courts, swimming pools, libraries, spas, gyms, bars and even dog parks/walking trails. They also offer the freedoms associated with living in a safe and secure environment.
You own the home and lease the land. There are no entry costs, however weekly site fees are charged for the land lease as well as service and maintenance costs.
If and when you’re ready to leave, you can still sell the property independently and you keep all the profit you make on the sale.
Land Lease
Land Lease Living is typically a community, designed for people aged 55+ who may not yet be retired yet, still active and social, looking for a fun and safe community to be a part of.
Land lease communities often provide social interaction, connections & friendships with like minded people as well as easy access to landscaped gardens, tennis courts, swimming pools, libraries, spas, gyms, bars and even dog parks/walking trails. They also offer the freedoms associated with living in a safe and secure environment.
You own the home and lease the land. There are no entry costs, however weekly site fees are charged for the land lease as well as service and maintenance costs.
If and when you’re ready to leave, you can still sell the property independently and you keep all the profit you make on the sale.
Land
Lease
Land Lease Living is typically a community, designed for people aged 55+ who may not yet be retired yet, still active and social, looking for a fun and safe community to be a part of.
Land lease communities often provide social interaction, connections & friendships with like minded people as well as easy access to landscaped gardens, tennis courts, swimming pools, libraries, spas, gyms, bars and even dog parks/walking trails. They also offer the freedoms associated with living in a safe and secure environment.
You own the home and lease the land. There are no entry costs, however weekly site fees are charged for the land lease as well as service and maintenance costs.
If and when you’re ready to leave, you can still sell the property independently and you keep all the profit you make on the sale.
Retirement Villages
Retirement Villages usually attract retirees, offering a similar community environment to land lease communities. However, retirement villages often provide an array of additional services that can keep older people living independently for longer.
As with Land Lease communities, Retirement Villages also provide social interaction, connections & friendships with like minded people as well as easy access to a host of communal facilities in a safe and secure environment.
Key benefits typically include no large lump sum payments being required, plus options for healthcare & home services in-house, typically at an additional cost.
There are usually entry fees, ongoing fees & exit fees (known as "deferred management fees"), and limits on capital gains. This means that when you sell a retirement home, you may be required to pay a proportion of any profit you have made on the sale.
Retirement Villages
Retirement Villages usually attract retirees, offering a similar community environment to land lease communities. However, retirement villages often provide an array of additional services that can keep older people living independently for longer.
As with Land Lease communities, Retirement Villages also provide social interaction, connections & friendships with like minded people as well as easy access to a host of communal facilities in a safe and secure environment.
Key benefits typically include no large lump sum payments being required, plus options for healthcare & home services in-house, typically at an additional cost.
There are usually entry fees, ongoing fees & exit fees (known as "deferred management fees"), and limits on capital gains. This means that when you sell a retirement home, you may be required to pay a proportion of any profit you have made on the sale.
Retirement
Villages
Retirement Villages usually attract retirees, offering a similar community environment to land lease communities. However, retirement villages often provide an array of additional services that can keep older people living independently for longer.
As with Land Lease communities, Retirement Villages also provide social interaction, connections & friendships with like minded people as well as easy access to a host of communal facilities in a safe and secure environment.
Key benefits typically include no large lump sum payments being required, plus options for healthcare & home services in-house, typically at an additional cost.
There are usually entry fees, ongoing fees & exit fees (known as "deferred management fees"), and limits on capital gains. This means that when you sell a retirement home, you may be required to pay a proportion of any profit you have made on the sale.
Residential Aged Care
Residential Health Care or Aged Care provides round the clock care for those with significant health needs.
It is primarily for seniors who require assistance with daily living, medical care and 24/7 supervision.
Residential Aged Care
Residential Health Care or Aged Care provides round the clock care for those with significant health needs.
It is primarily for seniors who require assistance with daily living, medical care and 24/7 supervision.
Residential Aged Care
Residential Health Care or Aged Care provides round the clock care for those with significant health needs.
It is primarily for seniors who require assistance with daily living, medical care and 24/7 supervision.
Papillon Living allows you to search for community living that caters for your specific wants & needs, saving you hours of research & individual website comparisons
What questions should I be asking?
With all the new terminology, different property models and so much contractual small print, it can be absolutely daunting to take your first steps into the world of community living. We know as we've been in your shoes!
So to make the going a little easier, we've prepared some questions that will help you understand the offers in front of you and give you some peace of mind as you embark on your journey.
Questions about buying
What is the ownership model of this property? Please explain it to me?
— As we mentioned above, there are different types of community living, these generally fall into one of 3 baskets (Land Lease, Retirement Villages, Residential Aged Care). It's really important to understand the key differences between them now so you or your relatives don't get adversely impacted in the future.
Do I need to pay council tax? Do I need to pay stamp duty?
Will I own the property 100%? Are there any entry or exit fees? What are they?
Are there site fees or maintenance fees? What are they for and what is the cost and frequency of payment?
Could the government pay towards these fees if I am eligible?
Are the site fees capped? How much could they potentially rise each year?
Can I rent the property out to anyone else as an investment property?
Questions about buying
What is the ownership model of this property? Please explain it to me?
— As we mentioned above, there are different types of community living, these generally fall into one of 3 baskets (Land Lease, Retirement Villages, Residential Aged Care). It's really important to understand the key differences between them now so you or your relatives don't get adversely impacted in the future.
Do I need to pay council tax? Do I need to pay stamp duty?
Will I own the property 100%? Are there any entry or exit fees? What are they?
Are there site fees or maintenance fees? What are they for and what is the cost and frequency of payment?
Could the government pay towards these fees if I am eligible?
Are the site fees capped? How much could they potentially rise each year?
Can I rent the property out to anyone else as an investment property?
Questions
about buying
What is the ownership model of this property? Please explain it to me?
— As we mentioned above, there are different types of community living, these generally fall into one of 3 baskets (Land Lease, Retirement Villages, Residential Aged Care). It's really important to understand the key differences between them now so you or your relatives don't get adversely impacted in the future.
Do I need to pay council tax? Do I need to pay stamp duty?
Will I own the property 100%? Are there any entry or exit fees? What are they?
Are there site fees or maintenance fees? What are they for and what is the cost and frequency of payment?
Could the government pay towards these fees if I am eligible?
Are the site fees capped? How much could they potentially rise each year?
Can I rent the property out to anyone else as an investment property?
Questions about communities
- What facilities do you provide within the community?
- What community activities are available?
- What are my rights if the Community ownership changes?
- What are the demographics of current residents?
Questions about communities
- What facilities do you provide within the community?
- What community activities are available?
- What are my rights if the Community ownership changes?
- What are the demographics of current residents?
Questions about communities
- What facilities do you provide within the community?
- What community activities are available?
- What are my rights if the Community ownership changes?
- What are the demographics of current residents?
Questions about disposal
- Can I pass the property down to my children to inherit? Could they move into it or are there restrictions around this?
- Are there any rules I need to follow if I decide to sell the property? Can I use my own agents?
- Do I keep all the profit from the sale of the property?
Questions about disposal
- Can I pass the property down to my children to inherit? Could they move into it or are there restrictions around this?
- Are there any rules I need to follow if I decide to sell the property? Can I use my own agents?
- Do I keep all the profit from the sale of the property?
Questions
about disposal
- Can I pass the property down to my children to inherit? Could they move into it or are there restrictions around this?
- Are there any rules I need to follow if I decide to sell the property? Can I use my own agents?
- Do I keep all the profit from the sale of the property?
More research and some useful links
Fair Trading NSW - A great resource explaining more about Land Lease communities
- A great resource explaining more about Land Lease communities
Tenants.org.au - A really good news site about topical issues that impact people living in Land Lease communities
- A really good news site about topical issues that impact people living in Land Lease communities
ARPRA.org.au - The peak body representing residents living in Residential Land Lease Communities in NSW
- The peak body representing residents living in Residential Land Lease Communities in NSW
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