Leasehold tenure comes with substantial financial advantages
Many of us have fantasies about getting away from it all – leaving the rat race behind, and living an exciting and meaningful life. We seek a lifestyle that is close to nature, along with the beauty, peace and serenity that goes with it. Shelter Cove, a gated waterfront community on the shores of Lake Erie, makes this dream a reality.
Shelter Cove’s list of perquisites is extensive, and it’s difficult to list them all. Because Shelter Cover is a gated community, access is controlled, thus ensuring privacy and security for the residents.
Homeowners at Shelter Cove have the privileged opportunity to experience nature in all its glory. It’s customary to see a magnificent bald eagle soaring through the sky, or a flock of wild turkeys browsing the edge of the woods. Deer regularly make their rounds throughout the community.
For those who are into boating, Shelter Cove is idyllic. It’s only a short walk from your home to your dock, and you can be on the lake in a matter of minutes. The name, Shelter Cove, relates to the natural harbour that it’s on, which means that the private, on-site marina is protected from the wave action of the lake – ensuring that your watercraft is also protected.
If you like fishing, then you likely know that Lake Erie is one of Ontario’s best lakes for sport fishing, with an abundance of walleye and perch.
Shelter Cove’s on-site amenities will include a 5,000-square foot, residents-only clubhouse, which is to be completed later this year. There’s also a large outdoor swimming pool, along with planned walking trails and residents’ garden plots, as well as provisions for boat and RV storage.
At Shelter Cove, chores like grass cutting, leaf raking and snow shoveling are all looked after, as these are all included in the low $100 per month maintenance fee. In addition, residents enjoy the convenience of natural gas. It’s important to note that the community produces its own drinking water, sourced through reverse osmosis from an artesian well. Shelter Cove also has its very own state-of-the-art wastewater plant, so there are no septic tanks.
Amenities surrounding Shelter Cove include supermarkets, healthcare, golf courses and a variety of restaurants, as well as quaint boutiques, and service clubs in nearby Simcoe and Port Dover.
Because Shelter Cove is situated along the shores of Lake Erie, winters here are less severe, thus allowing for the growth of trees and plants not found in Hamilton or Toronto. This area is a part of the great Carolinian Forest.
Homes at Shelter Cove are priced from as little as $165,000 with leasehold tenure. They’re referred to as manufactured homes, which means that they are built indoors under strict quality control, safe from the elements, ensuring that the building materials are not exposed to rain and, therefore, unlikely to warp. Built to the Ontario Building Code, the homes are exceptionally well insulated and come with high-efficiency gas furnaces to ensure that you’re comfortable and cozy all year long.
Leasehold tenure comes with substantial financial advantages, because residents don’t have the capital outlay of a serviced building lot, which can run as high as $150,000. Investing this money wisely has the potential of paying the annual cost of the lease, while the principal remains intact. For instance, if you sold a home in Hamilton for $504,000 and moved to Shelter Cove, you could take out a mortgage for $184,000, and then invest the proceeds from the sale of your home and have an average annual return of just over $31,000. After paying the mortgage, leasehold fees, taxes and maintenance fee, you’d be ahead by more than $13,000 per year. Visit the Shelter Cove Sales Office for accurate facts and figures as it relates to your particular scenario.
The Shelter Cove Sales Office and Model Homes are open from 11 a.m. to 4 p.m. Monday, Wednesday, Saturday and Sunday, and by appointment on Tuesday, Thursday and Friday.