LIFE LEASE SUITES
Trinity Ravine has a number of market value Life Lease suites which become available from time to time. Resale prices are comparable to similarly sized condominiums in Toronto. Life Lease Suites range in size from 530 to 1394 square feet. Some of the premium suites include large outdoor terraces perfect for enjoying evening views of the Ravine.
The Life Lease form of tenure offers similar protection to freehold ownership. Which means, the purchase can be registered on title to the property in the same way a deed can be registered on a condominium or detached home. Under a Life Lease plan, residents purchase a suite, at market value, similar to purchasing a home or condominium. When the resident or their estate wishes to sell their Life Lease interest they receive market value, less an administration fee. As the local real estate market increases, so does the value of the Life Lease interest. Seniors are able to protect their equity and earn a return similar to the equity growth in their family home.
To keep that lifestyle harmonious, the 55 years of age or older qualification applies. Residents under 55 but older than 18 can live in the suite, however, at least one resident must be 55+. Life Lease housing has proven to be a creative option for providing housing, programs and support, plus an opportunity for investment today for tomorrow. The benefits of purchasing a Life Lease at Trinity Ravine are:
- Lower Property Taxes
- Environment is designed for Active Adult Lifestyle
- Community with Shared Interests
- Live-in-place Accessibility Design, Safety and Security
- Social, Recreational amenities and Programs
- Support services, Health and Wellness Center onsite
Join us at Trinity Ravine Towers and Right Size Your Life……