I was recently talking to a friend who was looking at a home in Riverbend Estates. The way that he explained it, there's a home owner's association, I'm guessing this is like a condo?
I've seen similar in Muskoka, where homeowners share road maintenance and garbage collection, totally a few hundred dollars each year. My understanding is that these homes have a monthly fee that are approximately $5000 yearly, plus $6000-8000 in property tax.
Does anyone live here? Opinions on this situation? I guess I just don't see the appeal. Their "value" is dropping like most condos right now and I expect they will continue to go down. I imagine that if you ever needed to sell, it would take a long time as most people would have a hard time justifying the added $5000 yearly.
Am I missing something? Are there more of these around? I don't think I've ever seen anything similar in Ontario.