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Old 05-10-2021, 03:04 PM   #642
troutman
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Location: Crowsnest Pass
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We have here what are called Bare Land condos (which come with RPRs):

https://www.crebnow.com/the-re-emergence-of-bare-land/

Quote:
“The term ‘bare land’ can be a bit of a misnomer,” said Debra A. Bunston, senior industry advisor with the Alberta Real Estate Association, which represents 10 regional real estate boards and more than 10,000 real estate professionals in the province.

“They typically include homes and landscaping or other structures. They can be residential condos, RV pads, or any other type of recreational or commercial condo.”

In a conventional condo, the homeowner owns what’s within the four walls, floor and ceiling. Bare land condo boundaries, meanwhile, are marked at the edges of the plot of land, not by the walls, floor or ceiling of the living space.

“In that way, a bare land unit resembles a single-family building lot – (the) house, deck, lawns, walkways and landscaping are all inside the unit boundaries,” said Bunston, noting everything beyond – such as facilities, greenspaces and roadways – is within the purview of the condo corporation.

Bare land condos often appeal to the mature buyer who wants to spend their free time doing things other than yard work.

“It’s very similar to living in a condo building, but it looks like a traditional neighbourhood and you’re in a single-family home,” he said. “The reality is now your neighbours and you have a say in what goes on each other’s property.”

Last edited by troutman; 05-10-2021 at 03:08 PM.
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