Homebuilder Grant a boost for older Australians looking to Discover Downsizing
The peak body for the Residential Land Lease Community industry warmly supports the Government's announcement today of the Homebuilder Grant.
With over 100,000 Australians already choosing the lifestyle and security of a land lease community, the Homebuilder Grant will allow many more Australians to downsize out of the suburbs through the construction of a new house within a residential community.
Chair of the Residential Land Lease Alliance, James Kelly said the grant, available on new contracts from 4 June, will not only stimulate new housing sales, but will free up equity for older Australians to otherwise spend through the economy, while also assisting housing stocks of established homes in the suburbs for families looking to get into the housing market.
“The benefits of a land lease community are being recognised by more and more Australians as they look to move into their next phase of their life and prepare for an active and connected lifestyle,” said Mr Kelly.
“The market has been somewhat subdued with the uncertainty of the COVID-19 crisis, but today’s announcement, along with the strict hygiene and social distancing procedures of the industry, will provide confidence for Australians to jump into land lease community living."
The land lease community model allows for Australians to purchase a home (as an asset and able to be re-sold), on land with a right to tenure, and gain access to community facilities.
This is proving a popular model for older Australians looking to free up capital, lead a social and active life, while having the security of independent living.