JerrieGraf131

出典: くみこみックス

If you're out trying to find condo's in and around the Vancouver area, chances are you've come across properties which have the distinction "Leasehold Strata." Appealing because they may be, understanding what you're buying can save you headaches when you eventually decide to sell the property later on.

You're initial interest in these properties could have been triggered by the low cost of these units with some units being offered at thousands and thousands of dollars lower than what it would cost to purchase a similar unit using a Freehold Strata distinction. Not merely is the price enticing, but in addition many of the Leasehold Strata units in around the Downtown Vancouver area have been in prime locations along False Creek.

Condo buyers' shouldn't run for the hills the minute they start to see the Leasehold distinction on a property, but work as they would when buying any property and look at a number of options before they commit. What could be right for some might not be right for others.

A leasehold strata distinction occurs when a public authority or leasehold landlord who owns a parcel of land leases the land out for a set number of years to a developer or leasehold tenant. When a developer sells an individual strata lot, the developer sells the developer's interest like a leasehold tenant to the buyer who then assumes the interest as a leasehold tenant.

Because the buyer is purchasing the interest of a tenant within lease, he or she buys the legal right to exclusive possession of the strata lot for the balance of the term remaining beneath the lease and the directly to trade that interest. What are the results at the end of the term of the lease will have a large bearing on the value of the property and should be carefully scrutinized. It is critical that when looking to buy a leasehold strata property, the purchaser takes a close look at the model strata lot lease for the formula of the ultimate payout.

Real Estate - The Triton on 10th, that is a development built on land owned by the Vancouver school board at Broadway and Granville falls into such a category where upon expiration of the lease in 2096, the college board must purchase each interest on the current market rate. The buying price of a two-bedroom unit in the Triton is about $500-$600 per square foot depending on the layout, direction it faces and which floor being used on. The building is 13 yrs . old, in a location close to shops and restaurants, and minutes away from downtown.

A recent sale of your two-bedroom, 1240 square foot unit was $623 000 that is $502 per square foot. That's big money less per sq . ft . than a comparable freehold strata unit. The Triton on 10th might be a good fit for an individual who doesn't' have the afford a freehold strata unit. But buyers' should understand that with leasehold properties banks have stricter approval standards, the unit can be less liquid when it comes time to sell, and they usually do not see the value appreciation exactly the same way a comparable freehold unit would.

There are more developments in the downtown Vancouver area along False Creek whereas if the lease expires, there isn't any payout. Meaning once the lease expires, the leasehold landlord becomes the rental landlord, and also the leasehold tenants become rental tenants paying rent in the current market rate. This kind of Leasehold property will depreciate in value and much more so as the lease date approaches. In this instance as the expiration date ways to within 30-40 years any owner will have a very difficult time selling the property, namely because you will have to find someone capable of paying with cash because banks will be really reluctant to mortgage this kind of property.

Vancouver Real Estate - Many properties along Beach Avenue are quickly approaching their lease expiration dates, but inspite of the desirable location, sellers understand that in order to sell such a property they must lower the price. But as a buyer, careful consideration must be taken into the price of the unit and also the number of years until the lease expires.