Are you considering buying a home in Edmonton? If so, you may have heard there are three primary forms of property ownership: freehold and leasehold ownership. Freehold ownership grants you complete ownership of both the property and the land, and is the most prevalent form of ownership in Canada. In contrast, leasehold ownership only grants you ownership of the property, not the land, which means you must pay ground rent and condo fees. Freehold properties tend to be more expensive as you are purchasing the land as well, but they also appreciate in value more compared to leasehold properties.
In this article, we’ll explain exactly the different components to each ownership type, so that you can be well-informed when making your decision. Read More