Ever thought of downsizing? Moving into a retirement village is a great opportunity to be independent, and have your home maintained, while freeing up a bit of capital.
Retirees looking to move out of a house that is now too big for them can benefit from a federal government initiative announced last year.
The changes in the 2017-18 budget mean that from July 1, 2018, people aged 65-plus who have owned their primary residence for more than 10 years will be able to sell it and contribute up to $300,000 from the proceeds of the sale into their superannuation.
Each member of a couple can take advantage of this measure from the same home sale, meaning a couple can contribute up to $600,000.
Gawler Community Retirement Homes is a not-for-profit organisation that offers retired people aged 55 and over the opportunity to downsize and still live within the community they know and love.
Residents can live as they wish within their homes, while staff maintain the property, even if it’s as simple as changing a light globe to replacing a hot water service.
This means residents can live as privately as they like and still know they don’t have to worry about organising any maintenance themselves.
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Gawler Community Retirement Homes general manager Peter Smith said there are a range of units available to suit a variety of budgets.
“Our subsided entry units are great for people without a lot of capital behind them,” Peter said.
“They get an agreement to live in the home as long as they want and because there are no stamp duty or conveyancing fees they save; for a unit valued at $200,000, that is a saving of about $9000.”
There are 145 units across six villages, four of which are within walking distance of Gawler’s main street and one home near Gawler Hospital.
Also a country style village at Willaston. Homes range in size from one to three bedrooms.
Gawler Community Retirement Homes was established in 1969 by local businessmen and community-minded people who wanted to offer a place for ageing locals to reside, maintain their independence and have support.
Go to www.gcrh.org.au for more information on the services provided, how to check for a vacancy and tender your interest, photos, newsletters and more.