| Affordable |
These developments are relatively affordable with good quality
because they are built at cost. |
| Resident Input |
The first residents of the development have the opportunity to
customize their new home. |
| Common Areas |
There are usually common areas for games, crafts, and parties for
the resident's use. |
| No Maintenance |
Maintenance of units, common areas, including the outside of all
buildings, is done by the corporation. |
| Trusted Developer |
The development is
often a community effort led by a church or service
club so you know who is behind it all. Some for-profit
corporations are also in the sector because they desire to provide
supportive services to residents which are difficult to sustain in a
condominium development. |
| No Tax on Equity
or on the purchase. |
Leaseholders are not taxed on the interest that would otherwise be
earned on their equity. Instead it is used to prepay the lease.
Further, there is no land transfer tax charged on the purchase. |
| Community |
The built in community of people who share common interests. |
| Support Services |
A core level of health and wellness services are available and built
into the monthly fee. Additional services, such as housekeeping or home care, can be
arrange as need arises. |
