FAQs

Deciding where to go from here, or what the next steps would be?

Let’s see if we can answer some of your questions…

What is a Land Lease Community

  • What is a Land Lease Community

    A ‘Land Lease’ community is a wonderful lifestyle option where you buy and own your home and lease the land – It’s the ideal choice if you want to live in a secure, impeccably designed and brilliantly appointed community with likeminded people.

  • What are the benefits of a Land Lease Community like Vantage?

    There are lots of unique and wonderful benefits to living at a Vantage community.

    • There’s no stamp duty on your purchase which keeps that money for you to put towards other things.
    • Homes in the community cannot be rented out so you have confidence in knowing and being familiar with your neighbours.
    • Common areas and facilities are maintained as part of your Site Agreement and fees, meaning much less maintenance for you.
    • As a gated community, you’ll feel a sense of safety and security.
    • Amenities, landscaping, design and street appeal are all carefully planned so you have everything you need onsite and peace of mind knowing what will be built and when.
  • Do I have to be retired?

    No, you don’t need to be retired to live in a Vantage community. We welcome people who are working full-time, part-time or are enjoying retirement already.

What is it that I own in a Vantage Community?

  • Do I own my home?

    Yes, you own your home and pay a lease (the ‘site fee’) for the land on which it’s built. As the homeowner, you’re also protected under the Site Agreement which is governed by the laws of the state your Vantage community is in.

  • Do I own the land?

    No. You only own the home, and the land is owned by Vantage. You enter into a long-term lease on the land your home is situated on, and the site (lease) fee not only gives you exclusive rights to occupy that land, but also the right to use the residents’ facilities and amenities in your community.

  • What are the benefits of leasing land?

    There are some major benefits in leasing the land. You don’t pay any stamp duty on your purchase; there are no local council rates or other government charges; and all the common areas, facilities and landscaping are maintained by the Community Management Team as part of the Site Agreement.

  • What's the difference between leasehold and freehold?

    Your rights as a long-term leaseholder with Vantage are very similar to the protections offered by freehold titles but without the associated costs. There are no body corporate fees or council rates to pay, but you’re still protected by the relevant state laws.

  • Is there a stamp duty on my purchase?

    There is no stamp duty to pay as there is no transfer of land title, since Vantage retains ownership of the land.

  • What are my rights as a leaseholder?

    As the owner of the home and leaseholder of the land, you enjoy exclusive occupation to your home and yard, as well as access to all the residents’ facilities provided by your Vantage community.

  • What is a Site Agreement?

    Your Residential Site Agreement is the contract between you and Vantage, giving you the exclusive right to occupy the land in which your home sits. The agreement – which is governed by the relevant state laws – sets out each party’s rights and responsibilities and the ongoing fees that apply.

  • Can I obtain finance for my home?

    In most cases, it can be difficult to get typical finance or a mortgage to buy your home at a Vantage community, which is why most residents are cash buyers.
    However, we do recommend that you speak with financial or trusted advisor regarding your financial options when thinking about joining a Vantage community.

  • Is my home secure?

    Yes, your home is located within a gated community surrounded by like-minded people.

  • Can I include my home in my will?

    Yes. Because you own it, your home forms part of your estate assets. The beneficiaries of your will can sell the home and all capital gains will be returned to them or to your estate.

  • Can we buy a home in the name of a family trust, company or children’s names?

    All homes are owner-occupied and we recommend you obtain legal advice if you’re thinking about buying via a trust or entity other than in your own name.

  • Can I keep a pet?

    Yes, pets are part of the family and are welcome at Vantage communities. There are some practical guidelines and considerations around keeping pets which are covered in the Vantage Pet Policy.

  • Where can I store my caravan and or Boat?

    Some Vantage communities offer homes with garages that can store caravans and/or a boat. Some also have onsite storage facilities that may be hired for an affordable fee. Alternatively, your friendly Vantage team can provide details of suitable storage firms nearby.

What are the additional costs and fees?

  • Do I pay a legal fee?

    No. There are no additional fees to pay, including legal fees. Of course, you’re welcome to engage a solicitor at your own expense if you choose.

  • Are there exit or deferred management fees (DMF)?

    No. A key benefit of a Vantage community is that there are no exit or deferred management fees. This means that, when you sell your Vantage home, the capital returns and profits go back to you or your beneficiaries.

  • What is a site fee and what do they cover?

    The site (lease) fee gives you the right to occupy the land on which your home is situated, and is also used to pay the costs of running the community and its facilities, such as gardening, maintenance, management, security and providing high-quality amenities.

  • How much are the site fees ?

    Site (lease) fees vary depending on which Vantage community you live in. Fees are paid monthly by a convenient direct debit payment option and your Vantage team can provide details of the fee for the community you’re interested in.

  • Do my site fees cover rates and government charges?

    Yes, government fees are all covered by Vantage, which means you don’t pay any council rates or water and sewer connections.

  • Apart from site fees, what other charges do I have to pay?

    Apart from site (lease) fees, other costs can include your normal domestic expenses such as electricity, water, telephone, home internet and home and contents insurance. Additional potential costs could include onsite caravan or boat storage.

    You don’t need to pay to have your front garden maintained though – we do that for you.

  • Who maintains the facilities?

    Your Vantage community’s onsite facilities and amenities are all maintained by the Community Manager, and is covered in your site (lease) fee.

  • Will the site fees increase?

    All site (lease) fees are reviewed on 1 July each year, however, for additional peace-of-mind, any increases are capped at CPI or 3.5% – whichever is greater.

  • Am I entitled to government rent assistance?

    Depending on your personal circumstances, you may be eligible for Commonwealth Rent Assistance. For full details and eligibility, you’ll need to contact Centrelink or the Department of Veterans Affairs.

  • Do I pay a deposit when making my purchase?

    Yes. You will need to pay an initial holding deposit to secure your preferred site and home. At a later stage you’ll need to pay a home purchase deposit, a purchaser selections payment (if relevant) and the final balance before moving in.

What should I expect with my home build?

  • What are the homes built of?

    All homes are built from modern, high-quality building materials and comply with Commonwealth and state building requirements.

  • Can I customise my home?

    You are very welcome to customise the interiors of your home – after all, you own it. There are however, guidelines for any alterations or additions to the outside of your home in order to protect the look, amenity and value of the community.

  • Does a guarantee or warranty come with my home?

    Yes, the builder provides a warranty to you on your home (currently 6 years and 6 months) for repairing any structural defects and a separate warranty (currently 6 months) to repair non-structural defects.
    Your home appliances, fittings and fixtures are also covered by standard manufacturer warranties.
    We’ll provide you with all the warranty certificates and documents when you move in.

  • Are my family and friends welcome to visit and stay?

    Absolutely! Your guests are more than welcome to visit. They may even use the facilities when accompanied by you. Visitors are welcome to stay for a short period (e.g. up to a week/fortnight) and if you’d like them to stay longer, please speak to your Community Manager.

What happens when it come to selling my home?

  • How do I sell my home?

    If and when you choose to sell your home, you can either use the Vantage Sales team as your selling agent, or a real estate agent of your choice. Ownership and the lease agreement are then transferred to the new residents.

  • Can I sell my home myself?

    Yes, you can sell your home through an external real estate agent of your choice. We do recommend that you choose an agent who has experience in the sale of ‘Land Lease’ properties.

    If you sell via the Vantage Sales team, a selling commission will apply (payable to Vantage).

  • If and when I wish to sell my home, who can I use as an agent?

    If you choose a private real estate agent, you’ll need to negotiate the selling commission with them, just as you would with any home sale.

  • When I sell my home what exit fees and charges will I have to pay?

    There are no exit fees or deferred management fees when you own a home in a Vantage community.
    As with any home, the only fees associated with selling your home would be the selling commission – payable to either Vantage or a private real estate agent.

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