Home Ownership After Retirement Can Be Affordable and Stress-Free
Education and Advocacy Canadians anxious about their retirement savings are looking at affordable alternatives to traditional home ownership after age 65.
Many Canadians at, or nearing retirement age can feel anxious about their retirement savings. For some, that means looking at affordable alternatives to traditional home ownership after age 65. One growing trend among seniors is land leasing; a form of home ownership that reduces the capital costs of buying a home. In the land lease model, residents purchase individual housing units within retirement communities, but they only lease the land. Parkbridge, a Canadian company, has been developing and operating land lease communities across Canada since 1998. With more than 70 neighborhoods across British Columbia, Alberta, Quebec, and Ontario, Parkbridge offers its residents an affordable retirement lifestyle.
Mediaplanet: What are some of the benefits of a land lease?
Parkbridge: Affordability and the pride of home ownership that comes with purchasing a home in retirement is a key factor for many residents. Another major benefit is the strong sense of community that we strive to foster through social activities and amenities.
Mediaplanet: What makes Parkbridge communities a more affordable option for independent living?
Parkbridge: The key to the affordability is the fact that individuals purchase their homes and lease the land. Parkbridge homes are, on average, 30 percent less capital cost than freehold homes and have lower taxes in comparison.
Mediaplanet: Why is your community a great retirement living option?
Parkbridge: Our walkable neighborhoods foster a true sense of community and there is a great variety of social activities where homeowners can meet other like-minded individuals. Some communities offer facilities such as outdoor pools, fitness centres, and private outdoor spaces for gardening, entertaining, and recreation. There are also groups, clubs, and classes for homeowners to stay active together, making it easy to lead a healthy lifestyle.
Mediaplanet: What makes Parkbridge living different from other settling in other communities?
Parkbridge: Unlike renting an apartment or entering the world of condo living, homeowners in our neighborhoods have a decidedly more relaxed lifestyle. We’re a partner in the ongoing interest of the community and the protection of our homeowners’ investment, so they can enjoy security, safety, and peace of mind while continuing to live independently.