Classified as a manufactured home estate or active lifestyle village, Kangy Grove Estate caters to the active and independent over 50s. One of the benefits of a manufactured homes estate is being able to live and interact in a community with like-minded people. Our Estate is better suited to younger independent retirees who want to own their own home, rather than live within a typical retirement village environment with onsite medical assistance and increased care options.
At Kangy Grove Estate a quality home is within reach with many able to buy and live in the standard of home they may never have enjoyed in the past. Those who currently own a substantial residence can sell and capitalise by utilising their funds to not only finance their new home, but free up money to enjoy the relaxed and carefree lifestyle they’ve long desired.
Quite often retirees are faced with ownership options for retirement living such as strata and company title, loan and licence agreements and leasehold which can lead to confusion and stress when trying to understand who is responsible within the retirement village context.
Ownership of a home in our Kangy Grove community exists on a two-tier basis:
- Firstly, the home that you select and buy will be yours. You will be the absolute owner.
- Secondly, you will be granted a site agreement to occupy the site on which your home stands. This is not a freehold interest; it is a form of statutory tenure. Your rights are protected by the Manufactured Homes (Residential Parks) Act 2003.
In simple terms, Kangy Grove Estate owns the land and facilities and you own your home. If you decide to sell your home at any time you are free to do so in the same manner as you would sell a freehold home. For those who decide to leave a manufactured home estate at a later stage, the only deduction from the sale price will be a commission if management acts in the sale of the home.
Compared with legally defined retirement villages, manufactured home estates offer a number of significant advantages including:
- Self-care retirees own their own home
- There is no deferred management fee on departure
- New homes are half the cost of comparable retirement village self-care units
- There are no legal or hidden costs
- Rent assistance reduces weekly fees for eligible pensioners
- NO stamp duty, NO entry fees, NO exit fees
- Importantly, for manufactured home estates the well accepted concept of ‘home ownership’ continues into your retirement years. This is distinct from the variety of legal and financial arrangements offered by self-care retirement villages.
To learn more about Kangy Grove Estate, contact us today.