What is it about Homes Parks that has made them a popular choice for the older members of our population, especially the over 50’s and 55’s to live in?
The answers will generally depend on the residents personal circumstances.
Security of living in a close knit community where residents are of a similar age, especially for those on their own and having someone close at hand if you need help.
The feeling of belonging and being able to socialise in a safe community environment. Many parks have a busy activities calendar which can become the focal point of residents enjoying an active lifestyle without having to leave the park.
There are a variety of options for accommodation depending in the park. Most are independent living where you own and maintain your home whilst some provide rental option and others may offer assisted living options to suit your requirements.
The site agreement and legislation requires that you maintain your home and site. The park owner is required to maintain all common areas and facilities including roads, common area lawns, gardens and all facilities provided such as swimming pools, community centres.
Some residents opt for residential park living when they are ready to downsize and decide that living in a manufactured home or mobile home is a better option than living in a suburban villa or unit.
You do not pay stamp duty on the purchase of your home. There are no council rates or strata fees to pay.
There are no Deferred Management Fees (DMF) to pay when you sell your home, unlike some retirement villages where you can pay sometimes up to 35% or more of the resale value of the unit plus a contribution to the renovation or reinstatement of the unit. You retain 100% of the sale price less any commission if you engage a selling agent.
When it is time to sell your home, you can choose to do it yourself or engage a real estate agent. Some parks offer a sales service on a fee for service basis.
Depending on your personal circumstances you may be eligible for rent assistance. You should contact Centrelink to discuss this and obtain information.
