Looking to Downsize? An innovative finance solution could save you up to $100,000, says Pelican Shores manager Sue Swingler.
The main reason homes are more affordable in lifestyle villages, such as Pelican Shores, is that ownership of the land and home are separate, Sue says.
“Although you will own your home, you rent rather than buy the land. Also, there is no stamp duty, expensive legal fees or ongoing council rates to pay and some pensioners are eligible for government funded rent assistance.”
“If you are still concerned about having sufficient funds to enjoy a comfortable retirement and to tick off some of the things on your ‘bucket list,’ you can take advantage of Pelican Shores’ unique shared equity facility.”
Rather than paying the full price on settlement, you need only pay 65 per cent – 99.99 per cent of the purchase price in return for the same percentage ownership, she explains.
“Using shared equity enables you to secure your home, and the lifestyle you have been dreaming about, without having to break the bank.”
“It also frees up capital that would otherwise be tied up in your home, allowing you to spend it or invest it as you choose.”
Although ownership of the home is shared between you and Pelican Shores, naturally you have exclusive use of the home and the right to sell your home when you wish.
Pelican Shores residents Norma and John bought their home using shared equity.
“Pelican Shores Estate not only allowed us to free up extra cash but it is just such a beautiful place to live,” Norma said.
“Leaving for holidays is a breeze because there is nothing to worry about knowing your home is safe.
“We have stunning views and can walk our dogs in some of Victoria’s best surrounding countryside. The staff are friendly and helpful, just a great place to call home.”
