The National Post, a Canadian publication, recently ran an article on Canadian seniors looking to downsize and extolling the benefits of purchasing smaller, luxury types of condominium units rather than renting or participating in a CCRC. While the developers are offering both rental units and condominiums units in the same buildings, they share the same amenities that provide a broad range of retirement living options. So which is the better option or are we back to the days of rent with option to buy? While we’re not experts in Canadian mortgage finance, we know that getting a mortgage in a hybrid building would be extremely difficult as these types of facilities of rentals and deeded properties are a lot like a condo-hotel. For the full article, click here.
