COVID and the housing market

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Mad Mike said:
That sounds like a life lease if it’s not mortgageable. You buy the rights to lease, often several hundred thousand, pay a higher monthly fee, then sell the lease when you vacate.

These suit seniors who have equity from downsizing.
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Sort of except that your prices off by a million dollars or more they're not life leases they're basically condo houses.

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crankcall said:
There are a few properties like @scubasteve's mom are in . CedarSprings community North Burlinton is similar , houses on large lots in the country, your plowing / pool / golf course are included in fees . Its a 100yr old condo corp, no mortages are allowed, if you decide to sell the property must be advertised with in community for 30 days in case a current owner wants to upgrade , then it can be offered out but prospective purchasers are interviewed and voted in. Houses seldom see the open market , somebody seems to know someone that wants in. Its enforecable rules, the place is full of lawyers .
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Yes that sounds very similar hers is in Guelph but same idea.

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ifiddles said:
@crankcall you sure of the name? I've been looking at similar communities and Cedar Springs is near Orangeville...I think the one you're talking about is called Lost Forest...
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I've done service work in the Cedar Springs Community, Cedar Springs Road north on Burlington. Nice place if you can afford to get in. Referrals etc.
 
@ifiddles , it’s Cedar Springs , North Burlington off Cedar Springs road . They own about four hundred acres in there . Introductory seasonal house would set you back one point five mil or so . It is lovely, I was sledding up there yesterday afternoon before Super Bowl. They had their own ski hill back in the day but insurance killed that off. .


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