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Retirement Living Guide 2006
By Lori Schuett
Easy Living Communities
Modern homes, friends nearby, lots of recreational
activities and security are part of the appeal.
There’s no place like home, but finding the perfect
fit is a challenge in today’s multi-choice market
of adult lifestyle communities. As these developments
grow in popularity, many retirees are looking for maintenance-free
homes in areas close to recreational pursuits and family.
Buyers need to do their homework regarding ownership
styles, which include life-lease, land-lease, freehold
and condominium options, then decide what works best
for them. Location is often the deciding factor, but
home design is important too.
Freehold homes
Jim Steele, 63, who lives in The Neighbourhood of St.
David’s, says, “Even if I won the lottery
I’m not sure I would move from our home here.”
He and his wife, Joanna, 51, moved from Hamilton two
years ago to this community overlooking the Niagara
Escarpment in Niagara Falls, Ont.
Homes in The Neighbourhood of St. David’s are
defined as freehold, says Randy Armstrong, marketing
and sales manager. “That means the purchaser owns
the home and land outright.” Residents maintain
their own homes, – one-level bungalows and bungalofts
(with extra bedroom, sitting area and bath) –
which range in size from 1,300 to 3,500 square feet.
All have basements and two-car garages. Prices start
around $270,000.
The Steeles’ home is 1,535 square feet, plus
a walkout basement overlooking a ravine. “We looked
at 48 adult lifestyle communities,” Jim says.
“What attracted us to St. David’s was the
location and the fact that the builders of the homes
in this community were the most accommodating. They
altered the plans completely to allow for a larger kitchen
and an open-concept floor plan.”
Jim says, “Before moving here, I put a lot of
kilometres on the car. Now I clock very few, unless
we head off on trip. Shopping is at our doorstep, wineries
just minutes away, and we live right across the road
from the prestigious Glen Eagle golf course.”
Foxboro Green in Stratford, Ont., is also a freehold
development of resale bungalows. It offers a recreation
centre with indoor pool, party room, billiards, woodworking
centre, sewing centre and pottery kilns. Prices begin
at $275,000 for 1,600 sq.ft.
Janet and Gord Gardner moved here from Toronto in 1997
and bought a brick and siding house. “We feel
we have the best of both city and country life here
in Foxboro because we are just a few minutes to Stratford
or the larger Kitchener-Waterloo city area,” Janet
says. “Our home backs onto a field but we can
go shopping at big-box stores whenever we want.
“We own our home and the land, and part of the
recreation centre and common areas. We have a board
of directors, so in some respects we have the condominium
ownership concept as well,” Gord says. “Residents
maintain their homes, gardens and so forth but we volunteer
in the community, and many of us lead various interest
classes such as aqua fit and line dancing.”
Land-lease neighbourhood
Albion Woods Adult Living Community near Ottawa is
a land-lease neighbourhood with 128 homes in the first
phase. Homes are detached bungalows with garages, ranging
in size from 1,000 to 1,600 square feet. Prices start
at $169,900. Albion Woods is surrounded by golf courses,
and paths for walking and cycling. Social clubs and
activities are also available.
“People here are like-minded – mostly retired
residents who take pride in ownership of their homes
but lease the land,” says Rob Billczuk, general
manager. Albion Woods is part of Parkbridge Communities
Inc., which specializes in adult lifestyle communities
and is one of Canada’s largest builders of private
communities geared to the 50-plus market.
Billczuk says, “In our developments, you can
lease the land for up to 99 years. Once your home is
built, we remain the landowner – assuming all
the responsibilities that entails.” He says other
advantages of the land-lease option include:
• Cost savings: since you don’t pay for
the land, home prices are lower than similar ones in
other developments. You also save the land transfer
tax at time of purchase, and property taxes are considerably
less. Albion Woods’ lease fees are approximately
$325 per month.
• Someone is there to look after your property
so you’re free to travel.
• Ease of resale: you can sell your home privately,
through a real estate agent or through Albion Woods.
• Manufactured homes with land-lease
Fred Peebles, 81, is delighted with his land-lease
home in Thames Valley Community, close to Stratford
and 30 minutes from London, Ont. “I have lived
here for five years as a single dweller and not once
have felt isolated or alone. I love the community spirit
of Thames Valley and find my 1,200-square-foot home
to be a manageable size for my needs,” Peebles
says. “Because the community is centrally located,
I can easily visit my family nearby and I enjoy the
gym for some exercise.”
Thames Valley homes are manufactured nearby, then set
on full foundations to provide basements. Most homes
in the community are a combination of brick, siding
and some stone, with single or double garages. They
range in size from 1,000 to 1,600 square feet and in
price from $168,500 to $250,000. The cost for leasing
the land is about $260 per month.
There are 55 homes in the complex, with plans for nine
more. Manager Ron Deery says the land-lease option is
particularly attractive to those in the 70- to 75-year
age range; since the purchaser doesn’t have to
buy the land, it frees up money for other pleasures.
“We provide maintenance, such as shovelling and
grass cutting, for $125 per month and the development
offers recreation.”
Condominium suites
The Kays bought at Rivermill Condominiums in Lindsay,
Ont., about 1-1/2 hours east of Toronto. Eric, 78, says,
“Our suite overlooks the beautiful mill pond ...
in summer I can count the boats travelling along the
Trent-Severn Waterway right from my balcony.”
As a condominium community, residents own their interior
suites and share the exterior and common areas governed
by a board of directors, who maintains the buildings.
Rivermill suites are priced in $169,900-plus range,
with monthly maintenance fees of about $155 and property
taxes of about $2,000 per year.
Rivermill has 39 condominium apartments and 20 townhomes
situated on the grounds of a historic mill. The Kays’
three-bedroom corner unit, with 1,785 square feet, is
very spacious, with a balcony, dining room, three bedrooms
plus den, and two full baths.
Eric says, “There are two lovely fireplaces in
the mill, a kitchen and party room, an exercise room
and indoor pool. We are close to everything and can
walk to downtown Lindsay.”
Life-lease
St. James by the Bay is a relatively new adult lifestyle
community on the Bay of Quinte in Belleville, Ont.,
two hours east of Toronto. “This area is a beautiful
spot for enjoying the waterfront, with great sailing
and other water sports,” says president Boyd Kalnay.
“What we have here is known as a life-lease or
right-to-occupy concept.
“Many people confuse a life-lease with a land-lease,”
he says. “A life-lease is a mix between condominium
ownership and a co-operative living concept. St. James
by the Bay is owned by a not-for-profit corporation
that owns the land and buildings. As a resident, you
become a member of the corporation and thus there is
no third party retaining an interest in the property.
In a condo situation, you own the interior but not the
exterior. At St. James, all outdoor areas are common
areas, and you can sell your home whenever you want.”
Members elect a board responsible for maintenance.
Set on 14 acres of waterfront, there are two-storey
stone manor homes called The Courtyards, ranging from
1,700 to 2,400 square feet and starting at $305,000.
The Carriage Homes are 1,190- to 1,900-square-foot townhomes
overlooking a creek, with prices starting at $269,000.
Maintenance fees are about $400 per month.
The property has been in Kalnay’s family for
over 50 years. “We decided to follow the life-lease
principle at St. James because (it provides) a very
strong sense of community. In our community, everyone
knows each other and we do a lot of things as a group.”
Cam and Nada Nardocchio were among the first purchasers
at St. James. “We were looking for a condominium,”
says Cam, “then we found St. James by the Bay
homes, saw the beautiful surroundings and decided to
buy here. We wanted the security of being able to leave
our home in the winter when we travel.”
Cam says, “We like the life-lease arrangement
because we have the security of knowing that our investment
is protected – in that other people cannot rent
out or ‘flip’ properties, as happens with
some condominiums. We also like the fact that our neighbours
and friends here are all in the same stage of their
lives. We feel like it is a resort here year round.”
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