BUILD QUALITY: ALL buildings constructed in BC follow the same building code, meaning they’re built to the same high standard whether freehold or leasehold.
IS LEASEHOLD SIMILAR TO FREEHOLD?
ACCESS TO CITY SERVICES
West Coast Estates is serviced by the Tsawwassen First Nation, who have entered into service agreements with utility providers and the neighboring municipalities to provide all the same services and amenities you expect: utilities such as water, gas, fire protection, ambulance services, snow removal, and more.
MORTGAGES AND LEASEHOLD PROPERTIES
You can absolutely get a mortgage for a Leasehold property! Major banks (BMO, RBC, TD, and many others) are lenders that will gladly work with you on securing a mortgage for your dream Leasehold property. CMHC will also insure your mortgage when you meet their requirements, and most local banks have generous packages that meet your needs.
Your property taxes in a Leasehold home are measured exactly the same as they would be in any other municipality in BC. BC Assessment provides an assessment notice showing the assessed value of the property, to which the mill rate is applied, just like other BC municipalities.
LEASEHOLDS AND MARKET TRENDS
The link between freehold and leasehold properties increasing in value is clear.
Look at the graph below and you’ll see both trending upwards and very similar rates:
THE FACTS ABOUT LEASEHOLD AND WEST COAST ESTATES
Your home is worth more than you think! Anywhere else you’d want to buy a home like ours, in a community as beautiful and vibrant as this, it would cost you significantly more, by a wide margin. Leasehold properties are sold with a 99-year lease, meaning you can own your home and all its luxury for less. How much less?
Well, about $100,000 less.
When you look at the data, Leasehold homes’ value appreciates similarly to Freehold; as a Leasehold owner, you’re
still getting a property that becomes more valuable with time so you can rent it out, renovate, raise a family, and sell
just like a Freehold home. But you save $100,000.
UPGRADE YOUR LIFE WITH $100,000
- Buy a boat to explore the waters of Tsawwassen
- Buy a new car, or an SUV for your growing family
- Travel around the world, then come back to your beautiful home
- Accessorize your life with the gear you’ve always wanted to own
- Invest the difference and make your life just that much simpler
A FEW MORE FACTS ABOUT 99-YEAR LEASES:
THE CHANCE TO BUILD A COMMUNITY
The developers of West Coast Estates have brokered an amazing deal with the Tsawwassen First Nations, allowing them the opportunity to build its masterplan community through a Leasehold agreement which allows the developers to sublease to you for 99 years. You own the home and the rights to that home like any other, but only for up to 99 years. In that time, you can sell your home, rent it out, or transfer it as freely as you could a Freehold home!
WHERE OPPORTUNITY KNOCKS, WEST COAST ESTATES ANSWERS
They felt that the time was right to allow families to
grow and develop in beautiful neighborhoods on
prime, unused land that have never been available
to the public before. By doing a leasehold on this land, they allow the greatest potential of the land to be unlocked for generations to come. Better still for everyone, signicant municipal levies that are paid as the land is developed, which helps the First Nation community further develop their own infrastructure and community amenities, and plan for a better future in solidarity with the communities they have helped grow.