A HOUSING affordability option for seniors is proving to be a win/win scenario for both investors and seniors alike.
Carseldine Gardens, a 143-one and two bedroom villa residential village 12.5 kms from Brisbane CBD, is a unique seniors village offering affordability, convenience and a community lifestyle for seniors downsizing, whether they are working or not.
Seniors can buy or rent the villas, starting from $272,500 to buy or rent from $335 per week. Renters receiving an age pension may be eligible for additional rental assistance. The average median unit price in Carseldine in $403,000.
Unlike dwellings in a manufactured home village, these villas are brick and mortar and are purchased in the same way as buying into a residential townhouse or unit development. The purchaser pays stamp duty, has freehold title, there are modest ongoing body corporate fees and the usual outgoings associated with home ownership.
Purchasers can sell their villas any time or rent them out. Demand for affordable rental property is high. And there are no restrictions when it comes to the purchasers themselves as investors- they don't have to be seniors.
"This is a great opportunity for anyone keen to get into the property investment market as the investment is less than $300,000 with rental yields of 6 per cent, proven rental history, cash flow positive up to $43 per week and low risk tenants, in other words a low cost/low risk investment," said Todd Pepper, Executive Director of Alceon Brisbane.
It's also a great opportunity for families to pool resources to provide long term secure tenure for low income, modest asset retiree parents who might otherwise find themselves in inappropriate accommodation or moving into residential aged care long before they need to," Mr Pepper said.
"Some SMSF trustees may also see this option as an ideal property investment with the goal of moving into a villa once the trustees have reached retirement age.
"In fact anyone with sufficient superannuation or savings close to retirement age could consider this the first step to securing their retirement living.
"Everyone is talking about the need for more affordable housing, particularly for seniors, but there are very few practical, flexible solutions on the table to ease the current predicament or solve the potentially worsening situation in 10 or 20 years time with an ageing population," said Mr Pepper.
Some 54 percent of local residents in Carseldine do not have sufficient income or superannuation to enter traditional retirement living options. One in four residents are aged over 55, according to an exclusive report on Carseldine demographics prepared by URBIS for Alceon.
"I believe Carseldine Gardens is a step in the right direction to help at least some retirees to have an affordable roof over their heads, whether they are owner/occupiers or renters, " said Mr Pepper.
"At the same time they have independence, a community environment and the security of on-site management, senior living specialists Liberty Senior Living, whose primary objective is to maintain the quality of living environment within the village for this seniors community" he said.
"The single-level village is also close to facilities such as train and bus stations, a variety of shopping centres, hospitals and major link roads. It all makes for a better, easier, affordable lifestyle."
About Liberty Senior Living
<QL><square_bullet>Liberty Senior Living is the operational management company for Carseldine Gardens, a residential village owned by Alceon.
<square_bullet>Alceon is a specialist advisory, investment and capital solutions partnership with offices in Sydney, Melbourne and Brisbane.
Liberty Senior Living has been in operation for over ten years, prior to Alceon's ownership in 2015.
The organisation is committed to understanding the needs of the wider seniors' community, help and improve the support services of the residents on a daily basis.
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