Some (like Ottawa) don’t take individual units yet but we’ll prob sell and then invest in them or if they choose to buy individual units, sell to them.
If you can find one. Sell to a community land trust or housing co-op. You can get your capital back and the people living there can manage and own their own homes.
Ooo! Those are good alternatives. I’ll give em a read through. It might solve something on my end.
Say I want to move cities for a new job. There are at least two uncertainties I need to resolve -
will this job work out for the long term?
will I like this city at all (or know where to buy)?
This prevents me from wanting to buy immediately.
What prevents me from selling immediately is losing a stable footing I can plan around if the new city doesn’t work out. More broadly for everyone in this situation though is the cash sits.
I will need to buy immediately or park it in some investment that keeps pace/liquid enough to convert back to a house, which requires additional knowledge/research.
So to be risk averse, sitting on the house is generally a safe default…
But thank you for starting me on considering this as an options and what parameters need to be met to make sense.
For now. I’d at least put it in your will and talk to the beneficiaries of your estate about it.
I have family members who are more into the whole Real Estate “game” and would rather the property. Putting it in your will prevent any shenanigans.
The whole “society grows great when old men plant trees whose shade they will never know” and all that.
You’re right about moving cities part of it. Ideally if there are enough community land trusts and housing cooperatives you won’t face such issues as the distinction between “renting” and “owning” will disappear. And your investments will be divorced from land and onto actual projects.
Will be in your situation in due time.
Inheritance will give my siblings and I property.
My siblings and I have already talked about it. We’re looking to see if we can transfer it to Community Land Trusts or sell.
Here’s a link to the Canada wide association: https://www.communityland.ca/
Here’s the one specific to Ottawa: https://www.oclt.ca/
There are others in other cities.
Some (like Ottawa) don’t take individual units yet but we’ll prob sell and then invest in them or if they choose to buy individual units, sell to them.
If you can find one. Sell to a community land trust or housing co-op. You can get your capital back and the people living there can manage and own their own homes.
You can then reinvest the capital into other projects: https://tapestrycapital.ca/
Or in renewable energy: https://www.orec.ca/
Or credit union class B shares.
They try to aim for 4-5% ROI so above inflation. Unfortunately, most people want the ubsustainable returns in real estate.
Ooo! Those are good alternatives. I’ll give em a read through. It might solve something on my end.
Say I want to move cities for a new job. There are at least two uncertainties I need to resolve -
This prevents me from wanting to buy immediately.
What prevents me from selling immediately is losing a stable footing I can plan around if the new city doesn’t work out. More broadly for everyone in this situation though is the cash sits.
I will need to buy immediately or park it in some investment that keeps pace/liquid enough to convert back to a house, which requires additional knowledge/research.
So to be risk averse, sitting on the house is generally a safe default…
But thank you for starting me on considering this as an options and what parameters need to be met to make sense.
Glad to help.
For now. I’d at least put it in your will and talk to the beneficiaries of your estate about it.
I have family members who are more into the whole Real Estate “game” and would rather the property. Putting it in your will prevent any shenanigans.
The whole “society grows great when old men plant trees whose shade they will never know” and all that.
You’re right about moving cities part of it. Ideally if there are enough community land trusts and housing cooperatives you won’t face such issues as the distinction between “renting” and “owning” will disappear. And your investments will be divorced from land and onto actual projects.