Reflecting the skyrocketing interest in resort parks, the Retirement Living Council kicked off its first annual conference in Melbourne last week with a tour and briefing hosted by Lifestyle Communities MD James Kelly of his resort village at Chelsea Heights.
James said the affordable, low maintenance homes are built on site to hold cost down. They work on the price them low and watch them go principle; it was important to hold costs down and not allow scope creep in the design of the homes, which sell at 70% of the medium price in that market place, around $310,000. Homes are sold with a 99 year lease; rent increases are locked in a 3% p.a plus a DMF that is capped at 20% after 5 years. Sales have been strong, selling on average 6 to 8 homes per month. Re-sales are handled in house for a 2% commission. Lifestyle Communities is a listed company trading on the ASX
