What is Laurieton Residential Resort?
Laurieton Residential Resort is the ultimate in affordable luxury homes for discerning over 55s retirees. Our quality homes are set amongst 100 hectares of open space and tall timbers, on the idyllic Mid North Coast. Our brand new homes are quality, slab on ground, steel-framed residences that have been designed to offer style, function and a low maintenance lifestyle. Our residents have access to fully maintained, state-of-the-art amenities as part of their residential resort experience.
Do I own my own home?
Yes, you are the outright homeowner while also enjoying the benefits of leasing the land you are situated on.
What are the advantages of owning my home, but renting my land?
At Laurieton Residential Resort, residents own their homes and rent their land site from the resort owner. The many advantages of this structure include lower initial purchase price, NO stamp duty, NO body corporate fees and NO Council general rates. Many residents will qualify for government rent assistance to reduce the weekly fees for land rental. This is a modern day approach to retirement living and frees up your time and money for some of life’s other great adventures.
Does this model of living make financial sense?
This modern day approach to retirement living allows you to retire in a luxury resort style environment that still makes solid financial sense. By owning your home you are able to retain a tangible investment that has the ability to grow in value, just like traditional real estate, but with NO exit fees and NO deferred management fees. By renting the land you can lower your initial purchase price and, in many cases, qualify for government rent assistance. You can also access a wide array of superb amenities that are both physically and financially maintained by management. This model strikes a great balance between luxury, quality and financial sense.
Do I have full home ownership when I purchase at the resort?
Yes! When a house is purchased at the resort, the buyer has full ownership of the home, including retaining all profits if you choose to sell.
What measures are in place to protect my security of tenure (my right to stay on the land)?
Your right to occupy your land is secure and the site agreement is protected by NSW State Government legislation (under the Residential (Land Lease) Communities Act 2013). This legislation was created by the Government to ensure manufactured home estate residents’ interests are PROTECTED and SECURE.
Furthermore, Laurieton Residential Resort is one of the few resorts that has additional terms to the mandated government requirements, providing an extra layer of security for our home owners.
Where can I read more about the legislation?
The Department of Fair Trading administers the laws which set out the rights and responsibilities of residents and residential community owners. Further details and a booklet explaining the laws is available from our office or the Department of Fair Trading.
What security measures are in place?
Laurieton Residential Resort is a secure community with entry via electronic gates and an intercom system for guests. The resort has its own onsite manager who lives on the property to keep a watchful eye on the resort.
Are there any exit fees or deferred management fees when I sell my home?
No! Unlike many retirement villages on the market, we do NOT have any exit fees, or deferred management fees. When you sell your home you can conduct the sale yourself, elect to use your own real estate agent or enlist the help of one of our highly trained real estate professionals (who charge an industry standard commission fee).
Do I retain all the capital when I sell my property?
Yes, all capital is retained by the home owner on resale (minus any commission fees if you elect to enlist professional sales help). Laurieton Residential Resort also has an optional, in-house service to help you resell your home in the future.
Will the resort owner buy back my home in the future?
No, the resort owner does not buy back any properties.
Do I own the land that my home sits on?
No, the land site is rented from management via a weekly site fee. Therefore you are NOT responsible for stamp duty, body corporate dues or Council rates. The homeowner’s right to occupy the land is protected with a contractual Site Agreement and NSW Fair Trading administers the laws that cover your tenancy of the land.
Do I pay stamp duty on my initial purchase?
No. Stamp duty is a land tax, and is therefore not triggered by your home purchase.
What is a weekly site fee and what does it cover?
The weekly site fee covers rent for your land, the security of onsite management and general resort maintenance including landscaping throughout the resort and front yard maintenance. The site fee also covers the use, maintenance and running costs of all amenities including the heated indoor pool, heated outdoor pool, state-of-the-art gym, lawn bowling green, luxury clubhouse, tai chi retreat and scheduled outings on the resort bus. The fee also includes the cost of scheduled garbage collection. Fees are payable fortnightly, via direct debit.
Can I receive Government assistance to offset my weekly site fees?
Many of our residents are eligible for rental assistance on site fees, in particular those who receive the pension or Veterans Affairs payments. Please consult www.HumanServices.gov.au to check your eligibility and ask your sales consultant for more information.
What type of contract do I enter into when I buy a home?
The contract entered into for a completed home is a Stock Home Agreement (as chattel). If you want to build (rather than purchase a completed stock home) then a Home Building Contract will apply. Either way, you will have the protection of a 6 year structural warranty. Legal consultation isn’t a requirement, although you can seek advice if you choose. Additionally, you will sign a Residential Site Agreement to occupy your site.
What is a Residential Site Agreement?
A Residential Site Agreement is an agreement between the owner of the resort and the homeowner, based on the NSW statutory form which secures your occupancy of the land on which your house sits. It also gives the home owner use of the common areas and amenities, including our superb clubhouse.
Are there rules that need to be adhered to at the resort?
Yes, in the interest of harmony and neighbourly courtesy, our Community Rules govern a wide range of matters such as noise, pets and use of the amenities, ensuring everyone’s experience at the resort is respected.
Can I be evicted from my site?
If a resident continually breaks the terms of the agreement, the resort owner has the right to give you a termination notice. This action is reserved for extreme circumstances and Laurieton Residential Resort may only evict with an order from the NSW Civil Administrative Tribunal to ensure a fair decision is adjudicated.
Can I have pets?
In an effort to create a serene environment for all of our residents, we do have rules in place for pet owners. Your well behaved pet is most welcome with written permission from management. To ensure harmony within the resort, management does enforce strict rules. Please ask your sales consultant about specific allowances and guidelines.