COVID and the housing market

[Scuba Steve]

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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.

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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[Scuba Steve]

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 .

Yes that sounds very similar hers is in Guelph but same idea.

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[ifiddles]

@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...

 

[nobbie48]

@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...

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.

 

[crankcall]

@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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[mimico_polak]

@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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Just north of the golf course? Friends grandma had a place there and when she passed away it was supposedly going to the grandchild…but we lost touch.

Looked beautiful and well maintained in that area.

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