Leasing Vs. Buying

As you reach your retirement years , typically your income is reduced from your peak earning period, and you must seriously consider methods of using your assets to your best advantage.

Land Purchase?

Whether your money is from a nest egg that you have saved over the years, or profit from wise investing, or the sale of your home, is it in your best interest to tie up a substantial portion of it in the purchase of land? Consider your available options. You can commit a large amount to the purchase of land - whose primary beneficiary is the developer. On the other hand, you can purchase a less labor-intensive home on leased land and keep your funds available for discretionary or emergency purchases.

Competitors

Some of our competitors still push land purchase, claiming that land ownership frees you from additional financial obligations. However, this is not the complete story. Land ownership is an expensive way to live due to high property taxes and maintenance requirements. In addition, it ties up your funds - money that you can utilize only upon selling the land or taking out an additional mortgage (and paying substantial interest to use money that was already yours).

Financial, lifestyle and the business relationship

When you are considering a purchased vs. leased developed lot, look at the entire picture - financial, lifestyle and the business relationship. Be sure to get clear, concise answers to important questions. Are all utilities installed? Are there sewer and water impact fees? Is there a monthly maintenance / association fee? Are there additional amenities and recreational facilities, and who maintains and pays for them?

Maintenance

Also consider who pays for maintenance, trash pickup, street lights, and tree and shrub trimming. Are there effective community standards, pet and noise restrictions and security patrols? And will there be professional management on site to help you in the future? Property ownership is important to some people. Others enjoy the lifestyle advantages offered by a land lease community with protective standards. Evaluate both options. In the end, we hope you regard Valleyview Estates as your best choice for you retirement lifestyle in Ontario.

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