If there’s a suitable home available, buying can be a great option. Not only can you move in faster, you’ll also enjoy a range of features that have been thoughtfully included by the current owners.
In this article, we’ll walk you through the process of buying, from first contact through to moving in, to help you decide if it’s the best option for you.
Step 1: Spend Time Visiting the Local Area
Before you look at available homes, it’s important to be sure the location is a good fit for your lifestyle. If you’re not already living locally, book accommodation for a few days and explore the area. Visit the attractions, shops, cafés and services to get a feel for the place and to find out if the things you need are accessible.
Step 2: Arrange a Tour of the Village
If the location ticks all the boxes, arrange a tour so you can see the village up close. During your visit, our managers will show you around the grounds and facilities. You can also chat with residents to find out what life in the village is like.
It’s a good idea to write down all things you’d like to know, as well as a list of must-have features you’re looking for in your new home. You can ask questions and check things off as you go, and we’ll sit down after the tour to make sure everything has been covered.
3. View Available Homes
If the village is a good fit, the next step is to see the available homes. You can view the current listings on our website before you arrive to check out the suitable options. Our homes are all unique and have been lovingly maintained by our residents. Depending on the home, you’ll find features such as a carport, concrete driveway, outdoor entertaining area, heating, cooling, built-in robes and quality appliances.
Unlike most retirement villages, our homes are all independently situated on their own fenced block. This means you’ll enjoy plenty of privacy and have your own small backyard to create a garden or enjoy a barbecue.
Step 4: Review Fees and Contract
Once you’ve found a home you love, it’s important to make sure the fees and contracts are within your budget and expectations. We’ll explain the contract and fees payable in detail, and answer any questions you have. You’ll also be provided with the information in writing, so you can seek independent financial advice.
The purchase prices for our available homes currently ranges between $168,000-$248,000. Like other lifestyle communities, you pay a weekly rental fee (currently $135.50) on the land your home is situated on. However, unlike many retirement villages we don’t charge municipal rates or a deferred management fee (also known as an exit fee) when your home is sold.
Step 5: Seek Independent Advice
There’s still a lot of variation between contracts and fees from village to village. This makes it quite confusing when comparing! Some offer strata title or leasehold agreements, however, at Lifestyle Villages Traralgon, we operate under a rental contract. We also structure our fees differently to most operators, so you’ll avoid paying maintenance or exit fees.
As with any important legal contract, you should always seek expert advice. That way, you can be sure the terms, conditions and fees match for your budget and lifestyle.
Next Step: Move in and Enjoy!
Now that you’ve done your research, found a home you love, and reviewed the contract, it’s time to make arrangements to sell your existing home. Ask family and friends to help declutter, pack and move. And before you know it, you’ll be settled into your new home enjoying the relaxed lifestyle!
Over to You
Do you have a question about buying a lifestyle village home that we haven’t covered? Or would you like to book a tour to see the Village for yourself? You can contact our friendly managers on 03 5174 2384 – we’re always happy to hear from, you!
Want to know more about deferred management fees and other traps related to lifestyle villages? Download our FREE guide, 20 Questions You Must Ask BEFORE Choosing a Village.