Super incentive drives downsizing
Following the election result, downsizers will still able to turn equity in their homes to significant super contributions, and enjoy the lifestyle benefits of a modern, low-maintenance home.
While the most recent census identified that young Australians were more likely to move house, the data also showed 24 per cent of Australians aged 60-69 moved in the previous 5 years1, a number that may increase as more Australian’s take advantage of the government’s generous scheme which allows couples to make a non-concessional contribution of up to $600,000 from the sale of their home to their superfund.
AVID Property Group (AVID) Development Manager Queensland Peter Macleod said new homes in communities like AVID’s Brentwood Forest in Bellbird Park offered downsizers the best of both worlds.
“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.
“And the government’s super scheme allows them to put a significant amount of money away for their retirement.
“We have seen a significant amount of interest from older couples and singles, looking for a home they can ‘lock up and leave’, in a community that’s close to the sorts of services they need.”
Lyn Johnson, after searching for different homes and in multiple communities, made the decision to downsize in Brentwood Forest.
“Before moving here, I was living in the Lockyer Valley on a three acre block— it was becoming too much for me to manage as I got older,” Ms Johnson said.
“I wanted to downsize and move closer to my family so I could spend more time with them.
“Despite downsizing, I still have a good sized block and there is plenty of room for my grandson to play in the yard and plenty of room for my family to stay
“Brentwood Forest just made sense for me — it is halfway between my children’s homes, close to the shopping centre, and has easy access to the highway.”
Since moving into the masterplanned community Ms Johnson has noticed the wide variety of residents in the community, including young couples, families, and downsizers like herself.
“It isn’t just young families who live in Brentwood Forest, there are a variety of people of all ages in the community,” Ms Johnson said.
“Brentwood Forest is a nice area and offers what any older couple or young family would want — there are nice walking trails and it’s close to everything you need.”
Currently, more than 1,200 residents call Brentwood Forest home and this is expected to rise to more than 2,700 once all stages of the development are complete.
Mr MacLeod said in addition to access to services and utilities, the key to designing and building a successful community is encouraging diversity, and a major component of that is having residents of all ages.
“We are all about building and growing meaningful communities,” Mr MacLeod said.
“We want to bring life to our developments and leave a legacy.
“We build our communities with purpose in mind. The parks and utilities in and around our community need to be accessible and appeal to a wide variety of people — we build communities our residents can grow with,” he said.
“The homes in Brentwood Forest range in size and design allowing them to appeal to a variety of prospective buyers from first-home buyers, through to more experienced buyers who are on their third or fourth home.”
Located in Bellbird Park Brentwood Forest was designed with community in mind, with easy access to playgrounds, and within close proximity to schools, shops, sports facilities and everyday services.
For more information visit the Brentwood Forest Sales Office at 48 Columbia Drive, Bellbird Park.