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Manufactured Homes in QLD - Some Pitfalls

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Some pitfalls of retirement villages and manufactured homes.

Retirement villages and manufactured homes are popular choices for retirees looking to downsize, but each of them comes with rules and regulations that it is essential you understand. Discovering the pitfalls and make a well informed choice before proceeding with the purchase of a home in either of these accommodation options is essential to your future security and mental wellbeing.

Note that legislation and applicable regulations can change between state jurisdictions.

As with any business affairs that may impact our financial, physical and mental well-being, and more so if you are concerned about what you may pass on to loved ones, it is essential that you gain a thorough understanding of what you are signing up for. This includes how you or your beneficiaries might be allowed to liquidate and indeed benefit from your investment at the appropriate time.

As many of us consider our living options as we advance in years, we consider lifestyle, proximity to friends, family, amenities/services and affordability. It is hoped that any areas used for retiree living are located such that they are an integral part of broader communities.

There is plenty to consider, it’s not all straightforward and laws change (too) frequently. Do be sure to read all the applicable documentation and there is plenty but take your time, seek assistance from legal and accounting advisors if you wish, that have experience in this area, and be wary of claims / assurances not in that documentation. Be informed and assume nothing.

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