If the idea of owning a parcel of fantastic, South-West facing Powell River waterfront appeals to you, where you can watch the sky turn brilliant colours in the evenings, and harvest local seafood from your backyard during the day, you may want to take a second look at the Sliammon Development Corporation properties along Klahanie Drive! They are First Nations lease properties that are very affordable and offer some of the best lifestyle options in our community. Here are a few things you should know if you are considering a Sliammon Development Corporation lease purchase.
The current leases in place are for a term of 99 years. Since they are very recently renewed, it means you will have decades of quiet enjoyment on the land. There are no additional payments that a purchaser is required to make towards the lease. There are, however, property taxes that have to be paid directly to the band each year and a fee for the water system that also must be paid annually. The property taxes are decided by having a BC assessor come over to determine the market value of the properties and then the tax rate is applied to that amount. It is a fair system that reflects closely the tax amounts that are paid by neighbouring residents who own non-lease (freehold) land.
These homes and properties enjoy good water from Sliammon Lake that is regularly tested to meet Canadian Drinking Water Guidelines and is comparable to the quality of the water that in town residents receive. There is curb side garbage collection available and mail delivery is to rural post boxes. The roads are paved and level. There is a head lease from Sliammon Development Corporation and a sub-lease that outlines some guidelines and restrictions that improve the leaseholders land value. These include stipulations that the land shall only be used for residential purposes, all building shall meet the National Building Code of Canada standards, any home constructed must be 1350 square feet or larger and buildings on the lots are not to be used as a place of business or trade, among other things.
People have moved onto the Powell River Sliammon Development land for a variety of reasons, but the most common reason is to enjoy the lifestyle of relaxing ocean front living at a much lower cost than owning a freehold waterfront home. While during the past two years the average sale price of freehold ocean front in the Powell River community has sat around the $550 000 mark; the average price of Klahanie lease ocean front during the same period has been less than $250 000, a $300 000 savings!!
These lands are able to quality for mortgage financing and can be insured just like a regular home. I find it noteworthy that four real estate professionals have recently invested in the Sliammon Development Corporation lease properties, both for the beauty of the land and the potential for growth on investment.
In a nutshell, making the dream of waterfront home ownership a reality has never been easier if you are willing to consider a Sliammon Development Corporation lease. With great purchase prices, a well-run band office with a successful forty year history and a commitment to positive future development, these are opportunities that may be too good to pass up!
For additional information, Elizabeth Exter, Notary Public, is the local expert on these lands. She can be reached at (604) 485-5518.