Discover affordable retirement living
Bayway Village is an affordable retirement living solution for the over 50s. One of the reasons why a home at Bayway Village is so affordable is that the ownership of the land and home is separate. This is commonly known as a land lease community – although you will own your home, you do not own the land.
When you purchase your home you will enter into a residential site agreement which gives you exclusive right to occupy your home site and to enjoy the facilities and amenities in the village. Under this agreement your tenure is protected by the Residential (land lease) Communities 2013 Act and Regulation.
There are numerous financial benefits of living in a land lease community –
✓ Affordable homes
✓ No stamp duty
✓ No council rates or taxes
✓ No strata maintenance or sinking fund fees
✓ Government funded rent assistance is available to eligible pensioners
Don’t want to pay full price?
Take advantage of Shared Equity and secure a new home and lifestyle for a fraction of the price.
Rather than paying the full purchase price of your new home, Shared Equity allows you to pay 75% to 99.99% of the total price in return for an identical percentage ownership of the home. For example, you may choose to pay 85% of the total purchase price in return for 85% ownership of the home.
Freed up capital, that would otherwise be tied up in your home, can then be spent or invested as you choose!
For more information on Shared Equity please get in touch today