Outlook rosy for retirees on the move
The Outlook Release in Brentwood Forest’s masterplanned community is enabling early retirees to downsize into low maintenance, independent homes and contribute to their superannuation fund with the savings.
Located in Brisbane’s western corridor suburb of Bellbird Park, Brentwood Forest has welcomed 1200 residents since construction began in 2012.
The community is built on the principle of encouraging a diverse population with access to schools, sports facilities and services.
The full masterplanned community is expecting to be home to 2700 by the time all development stages are complete in 2021.
One of its newest residents, Lyn Johnson, 60, said she saved $40,000 on the price of land by choosing to build at Brentwood Forest rather than neighbouring Springfield.
“That’s a fair bit of savings,” Mrs Johnson said, after moving from acreage in the Lockyer Valley. “And therefore I can afford to put a bit extra into the house.” She is also considering putting part of the sale of her acreage property in the Lockyer Valley into superannuation.
“I’m seeing an investment adviser about that soon,” she said. Brentwood Forest developerAVID Property Group’s Peter MacLeod believes more older Aussies will consider downsizing now with the Federal Government allowing non-concessional superannuation contributions of up to $300,000 for people aged under 65.
“Many older Australians don’t want to move into a retirement village and by building a new home at a community like Brentwood Forest, they can choose a low-maintenance home that can be adapted for accessibility,” he said.
“And the government’s super scheme allows them to put a significant amount of money away for their retirement”.