Is Horisen Lifestyle Community a land lease community (LLC)?
Yes. Horisen Lifestyle Community is a new style for over 50s and is a land lease community, or as we like to call it, a “resort”, because of its high-quality lifestyle.
What is an LLC?
An LLC resident owns their home, but not the land on which it is built. As the resident, you permanently lease the land under a Residential Site Agreement, granting you access to all community facilities, resort maintenance, and ongoing management. Because you are the owner of the house, modifications are available, and the home is a willable asset.
Is my asset protected by legislation?
Yes. The NSW Local Government (Manufactured Home Estates, Caravan Parks Camping Grounds, and Moveable Dwellings) Regulation 2005 (updated on 5 February 2020), governs your Residential Site Agreement and regulates the relationship between site owner and residents. This means you are protected by the regulation and other related legislations, ensuring your ongoing right to tenure as long as you follow side agreement and community rules and terms.
Why should I live under LLC?
An LLC is very popular and used throughout Australia for several reasons, including:
- • No stamp duty
- • No entry or exit fees
- • No council rates
- • No body corporate or strata fees
- • It’s low maintenance
- • You own the home and can keep all capital gains from it
- • Create everlasting friendships within your age group
- • Manage your wellbeing with professional guidance
Why should I pay site fees?
Because you don’t own the land on which your property stands, you aren’t responsible for the ongoing costs associated with the land itself. This includes council rates, stamp duty, and body corporate fees. Instead, residents pay a weekly site fee which includes access to all community facilities, resort maintenance, onsite management, and events. You can easily and conveniently manage your wellbeing with professional guidance in LLC, which ultimately increases your quality of life.
Can I receive rent assistance?
Yes! If you’re deemed eligible, rent assistance is one of the benefits included in a Land Lease Community. It can cover a significant portion of your site fees, which makes this sort of lifestyle both an attractive and affordable option.
Can I sell my home?
Of course! You can sell your home at any time using either a local real estate agent or the onsite sales team. However, you will be required to follow the sale procedure according to legislation. This means you are required to inform the community operator that you are selling your home.
What is the difference between a retirement village and LLC?
Retirement villages and LLCs are governed by completely different legislations. Here’s how it works; retirement villages can charge entrance fees and exit/deferred management fees which could be as high as 40% of the purchasing price of your home. Furthermore, retirement villages often have additional deductable fees for home refurbishments when you sell. The great thing about an LLC is that none of these fees apply, and you keep 100% of the capital gain if you decide to sell.
Can My Visitors Stay Overnight?
Yes. The home is yours. Your friends and family are welcome to stay overnight to enjoy the beautiful community environment. Your visitors can use the community facility as long as you can accompany them and they follow up the community rules.
Can I Choose Colours and Amend the Home Design?
Yes, you are welcome to select the colours within the ranges provided before the construction is started. You may make minor amendment in floor plan. Our sale team can assist you and determine whether any amendments are possible.
Can I Rent My Home Out?
No. Only home owners can purchase and live in their home at Horisen Lifestyle Community so that we can keep the integrity and environment quality of the Community.
What Happens When I Sell My Home?
When you sell your home, you have the option to list with on-site sale team, an external agent or sell privately. However, you need to follow the sale procedure. We recommend that you consult the on-site sale team first.