Many people leave retirement decisions, such as where to live when downsizing or seeking a new beginning, until too late, when their opportunity to fully enjoy retirement and the spirit of community living is diminished. It’s far better to plan early while the best financial and personal decisions can still be made.
When it comes to planning for a retirement home, the newly released Invest+Retire™ package at Summerfield seems to tick all the boxes. Summerfield is a thriving over-55s, affordable, luxury estate at the vibrant community-spirited Braidwood, between Canberra and Batemans Bay. The new package has hit on a formula that enables clients to be strategic and proactive in making financial and personal plans about where to live in retirement.
So what is Invest+Retire™ all about? It really is very simple. Identify where you want to live and a property in an over-55s freehold estate and purchase as an investment property. Check value and amenity. Look at rentability and if there are any rental underwrites or guarantees. Take advantage of tax depreciation benefits in your own personal circumstances or in your Self Managed Super Fund.
With interest rates at an all-time low, there’s no better time to set up your financial future while you’re still working, for your future work slow-down or retirement. Fantastic lock-in rates over five years can now be achieved which could set you up well for the future. Importantly, you need to consider the impediments imposed by the banking sector for those who are over 65, or who only have a relatively low income, to borrow. It is important to set this up while you are still working with a reasonable income.
Flexibility to sell your home when you want to optimise value is important. For many, their home is their major asset so when selling it to downsize or move to an over-55s estate, it’s vital this can be done at the most opportune time and not in a rush. Invest+Retire™ allows that as you have identified and purchased your retirement home and it is earning an income.
A real advantage of freehold such as at Summerfield is that you can sell your property at any time and keep all the capital growth. There is no exit fees or lock in.
A key facet of Summerfield is that a rental underwrite, which establishes a base rent plus you keep whatever excess is received, or a rental guarantee is available. This provides you with peace of mind that your investment property is earning at all times. Summerfield is constantly looking for approved people to rent and establishing a database of all prospects. There are many over-55s who would love to rent at Summerfield for a short or long period and enjoy the clean, crisp, country air and wonderful community spirit. All in all, the Summerfield Invest+Retire™ package looks like a real winner.
Call Jane on 1300 73 79 70 to discuss how this new innovative package can benefit you.
Visit the Summerfield website here.
This feature was created in partnership with Summerfield. For more information on sponsored partnerships, click here.