John Purnell, 75, and his wife Patricia, 72, moved into a factory-built house in a converted caravan park west of Sydney this year, eschewing traditional retirement communities and other homes in the area.

“Retirement villages are quite expensive,” said Patricia, a former payroll clerk at a seniors facility, as she sat in the couple’s $254,000, 160-square-metre air-conditioned home featuring built-in wardrobes, a separate laundry cupboard and a carport. Houses near the Nepean River Holiday Village had minimum price tags of about $350,000 and needed a further $50,000 of work, she said.

Read more: http://www.smh.com.au/business/property/broke-retirees-take-over-australias-caravan-parks-20141010-1147ul.html#ixzz3GMfiKgSg

 

DISCLAIMER: This disclaimer is a requirement of the Securities Industry Legislation Act. The writer of this article is not a practicing lawyer or financier. The information, statements and opinions expressed are intended only as a guide as to some of the important considerations to be taken into account relating to property investment. I strongly suggest that you consult with licensed professionals such as accountants, Lawyers, Valuers, Development Consultants, Quantity Surveyors and others, BEFORE signing any contracts or other binding documents.

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