Life Lease at Victoria Village

Life Lease Suites For Sale

For Information Please Call 705-735-1314

What is Life Lease?

Victoria Village in Barrie Ontario

The Life Lease Suites at Victoria Village are meeting the challenges of the growing senior population in Barrie and surrounding Simcoe County.

For seniors the family home is now too large and costly to maintain. Good friends and family have moved away leaving less companionship and fewer neighbours to contact in the case of an emergency. Seniors who are looking for a housing option that reduces their worry and offers security and piece of mind in a community of shared values and lifestyles are turning to Life Lease Suites. The Victoria Village Life Lease Suites cater to these needs.

Life Lease is a newer way of "owning' a home. It compares to a long term lease on a Suite; not a rental arrangement, and offers many advantages over home ownership. A Life LeaseSuite is purchased at fair market value by the resident and gives him the exclusive right to occupy the suite and common facilities for as long as he desires or is able, while the owner Victoria Village Projects, maintains the right to control the future sale of the life interest in order to maintain the integrity of the building. When the Suite is no longer viable for the resident, it may be sold (at fair market value).  The Life Lease Suite has the potential to earn a return on one's investment, similar to equity growth in a home. All this is accomplished without the worries and headaches of owning, maintaining and selling a home.

Monthly occupancy fees are paid to the owner and property taxes apply. All routine maintenance and landscaping are cared for by the owner. In the event that the resident is away for an extended period of time, he can rest assured that his Unit is secure by the controlled access to the building.

Victoria Village Life Lease offers many added pluses. Proximity to downtown, picturesque Queen's Park and Lake Simcoe, an in-house activity centre for mature adults (run by the City of Barrie), a convenient commercial area, and a 128 bed long term care facility from which selected services can be accessed are some of the many "perks" that go with choosing to live at Victoria Village.