Leasehold: Own a Home (BUT NOT the LAND It's On)

What if you could save a hundred thousand or more off the typical asking price of the home you want? What if you could do this in a central neighbourhood, in a more spacious unit, perhaps one with a view?

It's possible. The only catch? You won't own the land your home is sitting on.

There are pockets of land throughout Metro Vancouver - many in prime locations - that have been rented out to developers for a set amount of time, usually between 50 and 99 years. The developers or "leasehold landlords" build on and make improvements to the land, then sell or rent out portions of the buildings.

This lease land is often city-owned, but the federal government, First Nations bands, Universities and even private individuals also own and rent out land. The types of developments vary, from condos to townhouses to detached houses and duplexes to mobile or even float homes. But all share one thing in common: unlike a traditional freehold unit, you own your share of the structure and any common property, but only rent the land beneath it.

Leasehold units are usually more attractively priced, more spacious, and in better neighbourhoods than their freehold counterparts. If you want to explore this option email me at info@yourcityownit.com
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