Downsizing into an over-55s community often brings significant changes to lifestyle and budget, and just like people, they come in all different shapes and sizes.
Ingenia Lifestyle Sunnylake Shores will be open to the public on Saturday, December 12, so that people can discover for themselves what living in this lakeside community would be like.
Communications Manager, Alison Hunt, said that before choosing to downsize to an over-55s community it was imperative to do your research.
“Look at the accommodation, facilities and care options available and, of course, the legal and financial arrangements that apply, but also look beyond these,” she said.
“A big part of your enjoyment in a new community will be time spent with others, so find a community that really suits you.
“Your legal ownership has wide reaching implications, so it’s important to know what rights and responsibilities are attached to it and how it will impact on pension entitlements and eligibility for rent assistance.”
Hunt said the costs of moving in and out of an over-55s community vary widely and in some communities, there were different payment options to consider.
“The type of community you live in, or the amount you pay for your home, will determine whether you are a homeowner or not for pension purposes, as well as your eligibility for rent assistance,” she said.
“Make sure your budget incorporates the costs associated with living in the community such as the general service charge or site fees together with your personal expenses such as utilities, food and entertainment.
“If you are going to receive extra services such as meals, domestic help or care, make sure you include these too.
“Crunching all the numbers can be complicated and a financial advisor who specialises in this area can help you get it right,” Hunt said.
Open House will be from 10am to 12 noon.
Sunnylake Shores, Halekulani, faces a waterfront reserve on Lake Munmorah.