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Retirement Village & Manufactured Homes
As we are all living longer in our ageing Australian population, with the continued desire by many to maintain as much independence as possible as we age, the purchase of retirement village or assisted care accommodation continues to increase.
These purchases are not your ‘normal’ residential property transactions and great care must be exercised at the time of purchase to ensure that the property meets your current and expected medical and lifestyle requirements, and whether the purchase is financially viable and that you understand exactly what the financial implications of the purchase will be.
There are often substantial issues arising at this decision point in your life, not just when and where to purchase. These may include questions such as how to fund the purchase, how or whether to maintain your family home at the same time, how the purchase of this type of accommodation may affect your estate and your beneficiaries after your death.
Caldwell Solicitors will assist you with aged care or manufactured homes purchases, and can provide you with estate planning and power of attorney advice.
We will also assist in the conveyancing of your home (if required) using the Caldwell Conveyancing service.
There are many issues to consider when buying or selling retirement village and manufactured homes accommodation.
These purchases are not your ‘normal’ residential property transactions and great care must be exercised at the time of purchase to ensure that the property meets your current and expected medical and lifestyle requirements, and whether the purchase is financially viable and that you understand exactly what the financial implications of the purchase will be.
There are often substantial issues arising at this decision point in your life, not just when and where to purchase. These may include questions such as how to fund the purchase, how or whether to maintain your family home at the same time, how the purchase of this type of accommodation may affect your estate and your beneficiaries after your death.
Caldwell Solicitors will assist you with aged care or manufactured homes purchases, and can provide you with estate planning and power of attorney advice.
We will also assist in the conveyancing of your home (if required) using the Caldwell Conveyancing service.
There are many issues to consider when buying or selling retirement village and manufactured homes accommodation.
The following are a few the services we provide in this area:
Checking the management background and financials
Ensuring compliance by the operator with Retirement Village law
Discussing and ensuring that your living conditions will be as you want - eg car parking, keeping pets
Reviewing and advising on services agreements, contracts and leases
How to finance your purchase
The impact your move may have on your family
The impact on your own finances - ongoing maintenance fees, capital gains tax, payment of stamp duty
What happens when you need to leave your accommodation - resales, commissions, refund of rent, exit fees
