The Land-Lease Concept

Why Buy When You Can Lease?

Land-lease is an alternative home ownership option [vs. purchasing the land or going into a condo] where you buy the house but lease the land on which it sits.

It 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 allows empty nesters to free up equity they have in their existing house, so they can spend their money on things that matter most.

Down payments are considerably cheaper than other home ownership options and taxes are cut in about half. That gives everyone the freedom to put some money away for a rainy day.

SAY NO TO SPECIAL ASSESSMENTS

In Meadows of Morinville, it is not a condo, so you have full ownership of your house. You will never be faced with special assessments that can occur if the (usually untrained) volunteer condo board hasn’t allocated enough money to cover the reserve fund and future repairs that will need to be done. Special assessments are often in the thousands of dollars and often without warning.

SAY YES TO LOCKED IN RATES!

Lease rates in Meadows are locked in for the next decade and are among the most affordable in the Capital Region.

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