Quote:
Originally Posted by Rerun
There's just something that bothers me about spending a whole lot of money on a house that sits on property that you don't own. Basically everyone who lives in Redwood Meadows is now hostage to the whims of the Tsuu T'ina because when push comes to shove, its still their land and they are just renting it to you. Your rent agreement expires in 39 years.
I own the land my house sits on. The house can deteriorate, burn down, or fall apart to nothing but the land is still there and increasing in value every year. My house in my major retirement investment. Why would I want to invest in something I don't fully own? Not a good business decision, in my opinion.
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I know this is splitting hairs but just remember that if that property you "own" is in an expansion area for Calgary you won't own it for long.
They do usually give you above market value, and you could still fight it, but at the end of the day you sort of own the governments land.