Your Ideal Life Lease Home Awaits
Life Lease Units: Your Forever Home Awaits
Embrace Tranquility in Niagara. At Niagara Ina Grafton Gage Village and Stone Road Village, we provide an exceptional living experience in our life lease units, blending the comforts of home with comprehensive amenities tailored for seniors.
Life lease is a housing concept designed specifically for seniors (55+), made possible through non-profit organizations like Niagara Ina Grafton Gage Village. This arrangement offers the benefit of a secure home without the hassles of homeownership. You acquire the right to occupy a particular unit for 49 years + 11 months with a single upfront payment, while we take care of everything from taxes, utilities, to basic cable and maintenance. Please note that the monthly maintenance fee does not cover telephone, internet, or content insurance. No additional legal or real estate fees are incurred, making it an efficient and cost-effective choice for seniors.
The life lease unit is fully paid for at the time of lease signing. We retain a depletion allowance of 3% per year for the first five years to a maximum of 15% when a unit is vacated. The remaining amount is returned to the senior or their estate.
Our current Life Lease Rates at Stone Road Village are as follows:
- 1 Bedroom Unit: $350,000
- 2 Bedroom Unit: $375,000
- 3 Bedroom Unit: $425,000
Monthly maintenance fee: $872 or $882 (with locker)
Includes: Utilities, Basic Cable, Property Taxes. Appliances NOT included.Waiting List Application
Our current rates for Life Lease units at Niagara Ina Grafton Apartments are as follows:
- 1 Bedroom Unit: $275,000 – $300,000
- 2 Bedroom Unit: $325,000 – $335,000
- 3 Bedroom Unit: $375,000
Monthly Maintenance Fee: $940 or $951 (with locker)
Includes: Utilities, Basic Cable, Property Taxes, Furnace/AC system – Appliances NOT included.Waiting List Application
LIFE LEASE BUNGALOWS
Our current rates for Life Lease Bungalows at Niagara Ina Grafton Gage Village:
- $375,000 (no garage)
- $400,000 (with garage)
Monthly Maintenance Fee: $774
Includes: Property Taxes, Basic Cable, Water, Furnace/AC System – Appliances NOT included.
Residents in Bungalows pay their own Gas, Hydro & Hot Water Tank Rental