There are 146 Life Lease homes in four buildings - Court East, Court West, Manor and Chateau. One of the main features of the Life Lease Agreement is the guaranteed buyback provision. St. Volodymyr Villa Corporation guarantees to buy back the unit for the appraised market value at time of sale.
Some of the highlights of the life lease complexes are:
Sizes from 946 to 1396 square feet
All two bedrooms, some with den
Two bathrooms (1 1/2 or 1 3/4)
Ensuite provision for washer and dryer
Furnished commons room
Spacious balconies and storage areas
Heated underground parking
Car wash bay and workshop
The monthly occupancy costs provide for building and grounds maintenance, heat, water and sewer costs, building insurance, property management, elevator, security and funds for capital reserves.
Occupancy Costs and Property Taxes as of January 1, 2019:
Fees and property taxes are paid monthly by automatic debit to St. Volodymyr.
Occupancy costs range from $350 - $390/month plus property taxes.
Depending on the unit, property taxes range from $100 - $140/month.
When a unit is released St. Volodymyr guarantees to buy it back. The price is established by an Independent Appraisal conducted by an independent third party appraiser who is a member of the Appraisal Institute of Canada. Therefore, the price is dependent on the Saskatoon Real Estate market. Released units are bought and then sold at the appraisal price.
WAIT LIST TIMES
A waiting list is established based on the date of receipt of the application. Our wait list continues to increase and wait times area approximately 4 - 5 years for the smaller homes (946 sq ft) and increasing to 7 - 8 years for the larger ones (1200+ sq ft).
People are encouraged to apply early. There is no obligation or application fee.