The recent downturn in real estate and the seemingly forever dropping house prices has been well covered by the media.
What is given less attention is the effect it has on seniors and the nest egg they have by way of equity in their home.
For many seniors, retirement seemed within their reach not so long ago, but with a 15 per cent drop in home prices over the past few years, seniors are seeing their equity slip away and with it, their retirement.
El Caballo Lifestyle Village has shown its awareness of the downturn in the real estate market with the coming launch of its new range of homes.
The economy home range at El Caballo Lifestyle Village features four homes, loosely based on their existing popular designs with some minor design and specification changes that have had a significant effect on house prices.
The one bedroom home, the Uno, features a small craft room and is attractively priced at $209,000.
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Its two-bedroom home, the Dos, now starts from just $229,000 and the larger two bedroom homes, the Tres and the Cuatro are $279,000 and $285,000 respectively.
These are priced $60,000-$75,000 less than the premium homes El Caballo Lifestyle Village call their standard.
Like all homes at El Caballo Lifestyle Village, the homes have Spanish names proudly acknowledging the history of the property.
The Economy Home Range at El Caballo Lifestyle Village features four homes, loosely based on their existing popular designs with some minor design and specification changes that have a significant effect on house prices.
These four new economy range homes are still fully finished with all painting, floor coverings, window treatments, carport, patio, fencing and even the clothesline included.
Once at El Caballo Lifestyle Village, the cost of living is very affordable, particularly for pensioners, with weekly fees for pensioners starting from just $59 per week after concessions and rebates are deducted.
For more information call El Caballo Lifestyle Village on 9573 3777 or go to the website www.eclv.com.au
The display homes are open every day between 11am and 3pm.