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I have met a lot of people interested in buying a bungalow when they downsize. Since Swan Lake Village offers some excellent options, I thought I'd do a little Q&A here with the 10 most frequently asked questions I get!
Q: How is owning in Swan Lake Village different than owning a bungalow in other popular adult active lifestyle communities - for example Wilmot Creek?
A: In Swan Lake Village, all the properties are condominiums. You own the property, and are free to buy and sell on the open market. As an owner, you share a percentage of what's called the 'common elements' (this varies depending on the condo development) but it generally means any property or amenities that are shared by all owners.
Wilmot Creek bungalows are land lease properties, where the land is owned by the development and the individual properties are freehold. So you pay a rental fee for your land & pay for upkeep and improvements on the house just like you would a freehold home. While not all land lease communities are structured equally, in Wilmot Creek you are free to sell on an open market, buying requires approval by the board.
Q: I don't know much about condos, but I do know there are monthly condo fees. How do they work?
A: Every condo development has different things covered in the monthly fees (called condo fees & maintenance fees interchangeably). In Swan Lake Village, the monthly fees cover your portion of maintenance & insurance of all the common elements like the roads, 24H security, green spaces, cable TV, internet, water and recreational facilities. For the bungalows the maintenance fees also cover things like landscaping, snow removal & salting to your door. Garbage removal & recycling as well as exterior home maintenance (doors, windows, roofs & decks) are also included.
Q: I am worried the monthly fees will go up, how does that work?
A: There are 4 different condo corporations in Swan Lake Village. Each condo corporation has a board of directors made up of the owners. As an owner you have voting rights each year at the annual meeting where the board discusses things like budgets. Provincial legislation through the condominium act regulates how the boards are run.
Q: In some communities like this snow shoveling and lawn maintenance are included. What about Swan Lake Village?
A: Yes, Swan Lake provides landscaping services including snow shovelling and salting up to your door. If you want to maintain your own garden, it's up to you to look after your own flowers, etc.
Q: How do I know if Swan Lake Village is being managed properly?
A: The benefit of buying a condo property is the low maintenance lifestyle - did you know that you have an opportunity for your real estate lawyer to review the financials of any condo complex before you agree to the purchase? The financials are called a Status Certificate. A lawyer review of the Status Certificate should be included in any condo purchase, along with other conditions such as a property inspection.
Q: Is Swan Lake Village only for seniors?
A: As with all condos, there is no age restriction. While the community was designed as an "Adult Lifestyle" village, most owners are retirees. The most common follow-up is about the occupancy rule, which generally limits homes to a maximum of two permanent residents.
Q: Is Swan Lake Village pet friendly?
A: Yes, Swan Lake Village is pet-friendly, which is a relief for many seniors moving from detached homes. There are usually standard condo bylaws regarding the number and size of pets, but generally, furry companions are welcome
Q: What amenities are included in the Swan Club?
A: You'll see the homes for sale being advertised with "resort style" amenities. What exactly does this mean? The Swan Club is the main recreation complex, featuring an indoor pool, gym, library, and billiards. There's a large hall for social gatherings. There are also three "satellite" clubhouses with outdoor pools and tennis/pickleball courts.
Q: Is Swan Lake Markham a gated community?
A: Yes, Swan Lake Village features a gatehouse with 24H security. There's a main entry & back entry that's accessable only to owners with passes.
Q: Are my grandchildren allowed to visit and use the pools or other recreation facilities at Swan Lake Village?
A: Yes, children are allowed to use the facilities as guests of a resident, but they must follow specific rules designed to maintain the community's quiet, adult-oriented atmosphere. Children and guests must be accompanied by a resident at all times when using the clubhouses, pools, or courts. Pool Times: It is common in adult lifestyle communities like Swan Lake for the indoor and outdoor pools to have designated "Family Swim" or "Guest Hours." Outside of these specific times, the facilities are typically reserved for residents only to ensure a tranquil environment. If this is important to you, make sure you review the bylaws and rules of the condo corportation.
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