How modular housing has become an accessible alternative to condo and apartment living

Condo Comparison | April 25th, 2021

2020 has shown us what’s truly important in our lives. We’ve spent the last year slowing down, staying home and realizing just how important our living quarters are.

Families, young couples and those looking to downsize have been on the hunt for the right housing fit – something affordable, customizable, modern, pet-friendly and practical.

If you feel like condo or apartment living is the only option for you right now, cancel the showing! While many families may think that’s their only option, there are some incredible condo alternatives that are well in reach.

Take the short drive out to our community and experience how Meadows of Morinville can check all of your must-have boxes.

What is a modular community?

Picture the convenience of a professionally managed and maintained community without having to share walls with your neighbors. Meadows of Morinville is architecturally controlled and well managed. We have a Community Manager and maintenance team to ensure resident’s guidelines are enforced – protecting everyone’s resale values. Bonus: we also take care of all the common maintenance areas for your convenience! 

Life in the Meadows is about making life simpler, without sacrificing luxury. Our exclusive home builder, Jandel Homes, is offering modern modular bungalows on large, landscaped lots from the $170,000’s. Our unique land-lease concept gives our home buyers an opportunity to get into a house they might not otherwise be able to afford, and empty-nesters a chance to free up some equity in their existing home.

Read more about the lifestyle

Own your home without sharing walls.

That single-family detached house you see to the right? Our community is full of them. We cannot emphasize enough how great it is not to have to share a wall with your neighbor, no matter how pleasant they might be. 

In Meadows of Morinville, you get to say NO to shared walls! NO to the possibility of loud footsteps over your head and NO to the possibility of having to listen to your neighbors’ television or music.

You own your home and you deserve your own space. Say YES to a large, fully landscaped lot with your own private yard and deck. Say YES to more square footage and open concept living spaces without the long-term housing costs of a traditional single-family home. Choose Meadows of Morinville and downsize without compromise.

Enjoy a large private yard!

You’ll be able to enjoy your own private estate sized yard, not have a small balcony with neighbours on either side like you’d experience in a condo. That means you can really enjoy life’s pleasures like gardening, BBQing, hot tubing and eating dinner on your deck. Each of our homes come standard with a 10’ x 12’ deck, but can absolutely be upgraded to a larger size if you prefer.

The yards in our community average 50’ x 110’ – that’s a lot of space!

Say no to special assessments.

If you’re still on the fence between condo living and moving to a land-lease community, consider this – condos are often subject to special assessments (a financial levy imposed against each individual condo unit owner). Land-lease is not.

In a condo, each unit is allocated a percentage of the common expenses. The monthly condo fees that homeowners pay are meant to cover the monthly costs of those common expenses, as well as providing a savings account (reserve fund) for potential future repairs and maintenance. This reserve fund is often not sufficient to absorb substantial additional costs, such as roof repairs.

There have been many instances of condo owners being assigned special assessments in the thousands of dollars and the owners have no repercussions. It doesn’t matter whether the reserve fund was poorly managed, the work will still need to be done and every unit owner is legally bound to share in those costs.

If you want to say no to special assessments and increasing condo fees, consider land-lease in Meadows of Morinville. Your monthly lease rate gives you your own lot to use for your private enjoyment, for the duration of your lease term and there are no additional fees imposed by the Community. The taxes on the land are absorbed by Meadows of Morinville, the common area maintenance and repairs are absorbed, and the cost of Community management is also paid entirely by Meadows of Morinville. For additional peace of mind, Meadows of Morinville has locked in the lease rates until 2028!

Both lifestyle choices are great options, but it truly pays to do your homework! Make sure you consider all of the factors when making your final decision. To learn more about condominium reserve funds and the legality of special assessments, check out the links below.

 

Compare alternatives to condo and apartment learning

Below is a quick visual comparison between Meadows of Morinville and condo and apartment living.

Want to learn more?

If you’d like to learn more about the Meadows of Morinville development, please call 587.855.4317 or email sales@meadowsofmorinville.com.

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