Established in 1964, Silvermead is an age-restricted, land-lease community that offers people fifty-five and over (some exceptions apply) the opportunity to own a reasonably priced home in a vibrant, peaceful community that ensures affordability without surprises.
The community at Silvermead has a small town atmosphere where our friendly and caring residents often look out for one another. Silvermead residents gather in the clubhouse to socialize, swim in the community pool, play bocce, and get together for holiday parties and other events. These events and other occasions such as birthdays and anniversaries are highlighted in The Informer, the residents’ community newsletter. Silvermead is the perfect choice for people looking to stay active and engaged in their golden years.
The land-lease concept:
Rather than purchase a traditional lot and pay high real estate taxes and upkeep costs, the homeowner leases the land, but owns the home and pays a monthly lot fee that covers the following expenses and services: Property taxes; city water and sewer; garbage and recycling pickup; lawn cutting; snow removal, including the driveways and walkways; curbside mail delivery; two off street parking spaces; underground utilities.
In our rent-controlled community the lot fee is tied to the inflation rate, ensuring that the lot fee will not exceed fluctuations in the cost of living. The cost savings that comes with a land-lease community means owning a luxury home has never been more affordable!