Australians aged over 50 have the opportunity to move into blue ribbon city suburbs and scenic coastal areas for less than $100,000, thanks to the affordable nature of many retirement living options.
With a quick search, Downsizing.com.au found dozens of retirement living options across the nation for as little as $49,000.
These homes provide a genuine and secure housing alternative for the increasing number of Australians entering retirement in expensive and unstable private rental arrangements, or with limited savings.
They also provide a great option for downsizers who currently own their home, but want to sell up and boost their retirement savings at the same time.
The significant upside of the homes is that many of them come with cleaning and food preparation services to help residents with everyday living, and are located inside a retirement community where over 50s are likely to form important social connections.
The growing potential for retirement living to provide low-cost housing has been highlighted by a new report by the Retirement Living Council. This report advocated for changes to government policy and funding to support the growth of the sector as an affordable housing option.
Below are some of the properties currently available for under $100,000.
RetireAustralia’s Magill retirement village is situated on landscaped award winning gardens, 8km east of Adelaide. Residents enjoy trips in the village bus, concerts, snooker, indoor bowls and barbeques.
A freshly renovated one-bedroom apartment is available at this retirement village for $57,750, including a bright bedroom with built-in wardrobe, renovated ensuite bathroom and external sliding door to patio overlooking lush courtyard gardens.
Also in South Australia, a renovated apartment is available for $69,000 at an Aveo retirement village at Salisbury East, in northern Adelaide.
This is a serviced apartment, which means that lunch and dinners are freshly cooked onsite and served daily while weekly cleaning and linen services are also available.
Residents are provided with three home cooked meals and activities, along with around-the-clock care.
And here’s a $49,000 refurbished apartment with a kitchenette, built-in wardrobe and air conditioning at the Aveo Fulham retirement village, east of Adelaide. This village comes with daily lunches and dinners, weekly cleaning and linen changes.
New South Wales
A charming ground-floor serviced apartment is available for just $90,000 at the blue ribbon northern Sydney suburb of St Ives, in Aveo’s Fernbank retirement village.
Fernbank is set across 0.4 hectares of peaceful gardens in Sydney’s north and is surrounded by Garigal National Park.
This apartment is spacious and filled with light. It comes with a large bathroom, kitchenette, built-in wardrobe and has a lovely garden setting with a private patio area.
This serviced apartment would suit someone who likes to dabble in the garden. A carpark is available on request at an additional cost.
Also, check out this serviced apartment available for $95,000 at Australian Unity’s Greglea retirement village at Penshurst in southern Sydney.
This apartment provides quality retirement living with the added benefits of security, three meals prepared daily, laundry, cleaning and medication assistance.
This studio has a spacious lounge and dining room is backed by a wide, modern kitchenette with easy-clean polyurethane cabinets, tiled splashback and abundant bench and storage space.
A permanent caravan and annexe is available for $89,000 at Ingenia Holidays Shoalhaven Heads park on the beautiful NSW South Coast. This nostalgic two bedroom place offers a great place to live with two bedrooms, two living areas, air conditioner and a separate toilet.
A caravan and annex is also for sale for $40,000 at Hampshire Village’s Surfrider Caravan Park, located alongside Shellharbour North beach at Barrack Point in the NSW Illawarra region.
This home includes a roll-out awning, single toilet and furniture. It sleeps up to six people.
BlueCare has a contemporary one-bedroom serviced apartment available for $85,000 at its Bundaberg retirement village. This apartment features spacious open living, including a generous bedroom and adjoining ensuite, kitchenette, living area, dining area and a secure rear patio with a picturesque garden outlook.
A self-contained studio is available for $91,000 at Tricare’s James Ommaney Retirement Community at Mount Ommaney in south-western Brisbane.
This ground-level studio has a small garden entry, an easy walk to the maintenance-free pool and outdoor covered seating.
It has recently been refurbished and includes a kitchenette and full-size oven. The two-way ensuite bathroom has easy access large shower. The reverse cycle air conditioner ensures year-round comfort.
Find out more
Most of the above properties are in retirement villages, in which case it is possible you may need to pay a deferred management fee when you leave, and other ongoing monthly fees. Properties in caravan parks and land lease communities will also come with a weekly site fee.
However, it’s likely that occupants will be able to claim Commonwealth rental assistance of up to $145.80 per fortnight (for a single age pensioner), to offset these costs.
To find more retirement living dwellings $100,000 and under across Australia on Downsizing.com.au, simply click this link.
Learn about the different downsizing options on offer, and insider tips on making the move, in our just-released Ultimate Guide to Downsizing 2022.