Our exclusively land-lease community offers residents a unique opportunity to make life less complicated without sacrificing the luxuries they deserve.
Meadows of Morinville is an award-winning community that has re-defined a new standard of living for residents who value their time, financial freedom and flexibility.
What is a Land Lease Community?
A land lease community means you own the house, not the land. It’s common in real estate for homeowners to buy the land and the home that sits on it, but that’s just one way to own a home.
What land lease really means for you is a low-maintenance, affordable and flexible way to become a home owner
Let’s break down the top questions we receive about our land lease community.
Is living in a land lease community more affordable?
Yes! You get more for your hard-earned dollar living in Meadows of Morinville.
When we compare purchasing your home in our community vs. purchasing a condo, we anticipate you’ll receive more value, dollar for dollar
In many cases, the cost of our single-family detached homes with full sized yards and landscaping are equal to (if not less) than a condo in the city. It may sound too good to be true, but we’re here to tell you that you deserve more space for less money.
Our community presents an easier barrier to entry for many first-time home buyers as they don’t need to come up with a down payment that includes the cost of the land.
Land leasing significantly reduces the cost on the initial purchase and allows buyers to get into a house they might not otherwise be able to afford. It also allows empty nesters to free up equity they have in their existing house, so they can spend their money on things that matter most. For example, many of our residents are snowbirds and enjoy spending their winters in Arizona.
How will my property taxes be affected?
You’ll pay less in property taxes in comparison to a traditional home-purchase where you own your home and the land it sits upon. This is because you are only required to pay taxes on the house, not the land.
How can you ensure my investment is protected?
We are architecturally controlled with a specific set of standards in place to protect your home investment. Our controls are very similar to that of a residential condo building to protect the integrity and appearance of the property.
The architectural controls and Resident’s Guidelines also ensure that the homes and sites in our community are always well-maintained. Our community manager ensures properties are well-kept and will intervene in any case where standards are not met. This protects everyone’s investments and ensures Meadows of Morinville remains a desirable place to live.
Are there hidden fees associated with land leasing?
No, not even the possibility of a special assessment.
When you buy a manufactured home in Meadows of Morinville, you can be assured that a special assessment will not happen.
We do not have any hidden fees or special assessments like traditional condos/town homes. All fees pertaining to residents in the community are clearly communicated prior to the sale of your home.
Additionally, lease rated in Meadows of Morinville are among the most affordable in the Edmonton area and are long term leases that locked in for the next decade.
Do I need special insurance to live in Meadows of Morinville?
No. You don’t need to be worried about new condo insurance policies that were announced this year regarding the impact of having an insurance claim on a condo.
Request more information
If you are tired of holding on to that massive mortgage or a first-time buyer who is ready to get into home ownership, consider Meadows of Morinville. Contact us at 780.572.0800 or firstname.lastname@example.org.