The Everything You Need To Know About Sun Rivers Home Ownership Episode
Episode 123 The Everything You Need To Know About SunRivers Episode Welcome to Kamloops Real Estate Insider Podcast with returning guest Lisa Moonie licensed broker, real estate agent, Sun Rivers resident. As well we are joined by Lawyer and Partner of Stewart and Springford law LLP Welcome Chrystie Stewart. Also a Sun Rivers resident Today, we're are going to dive into a very specific neighbourhood in Kamloops, we are going to look at leasehold ownership of the Sun Rivers development. The purpose of this episode is to discuss and answer questions, rumours and myth busting about the development ownership and to give a more in depth discussion about the development, so if you were thinking about purchasing at Sun Rivers to give you a source of qualified information Sun Rivers Sun Rivers is located in one of the most desirable physical locations in Kamloops. With such limited development on the South facing exposure of the Thompson river, sun rivers was appropriately named for its amazing amount of South facing exposure, proximately to downtown, it’s a resort style development featuring Big horn golf and country club. Sun Rivers holds the 99 year head lease, plus 20 year development term, over the 460 acre parcel, the head landlord is ‘Her Majesty the Queen in right of Canada’ (the crown). The lease has been structured to most fully protect the investments of the homeowners, the investors, the lenders and Sun Rivers. The amended lease date will end on June 30, 2115; in effect, the earliest parts of the Sun Rivers Community have a total lease of up to 119 years. Is purchasing land at Sunn Rivers secure ? The land has been leased back to the Federal Government "The crown and your leased ownership is with the crown and not directly with TKIB. How is Sun Rivers different ? Each Development has a style and design characteristic Lenders ?are they limited ? Ownership - Utilities Corex ( Hydro and Natural gas water and sewer ) TKIB has a water treatment facility, but sewer services for wastewater treatment are contracted back to the city of Kamloops. Property Taxes, home owners grant, Property transfer taxes is applicable, GST is applicable Geo thermal heating .. ground source heat pump using water that circulates the ground to extract thermal energy or to discharge thermal energy in the cooling months. ( carbon taxes this is now going to more affordable ) Landscaping ( community fees, ) development fees, Services ???? Bus, fire, schools, parks, hiking in the area ? access is limited , was an adult orientated development, but its moving away from that currently. One road in and out ( What is a quiet calmed community ) - Third party approval for purchasing and how that works - Gap insurance, Trust completion - defining these terms Don’t want to discount the fact that the wildlife is amazing … Ovis canadensis California big horn sheep, chukars What happens as we get closer to 2115 ??????? how does that play out ? Some 2024 stats on the development shows "It takes over double the amount of time for properties to sell at Sun Rivers", we explore why that is....
