|
Single Family Dwelling:
Single Family Dwellings are defined in the Victoria Real Estate Board MLS System as:
- Single Family Dwelling
- Bare Land Strata
- Strata Duplex
- Strata Manufactured Home
Single Family Dwelling:
This is a dwelling on a Fee Simple lot. This is the most commonly purchase home in Greater Victoria. This is most homes that you would see driving the streets. The owner of a Single Family Dwelling owns there lot and the dwelling on it. They look after all there own maintence with respect to their land and dwelling.
Bare Land Strata:
From the street a person would not know the difference between a Single Family Dwelling and a Bare Land Strata, but once you looked at the title you would know the difference. A home in a Bare Land Strata has a common interest in land with other dwellings in the Strata. These developments are created because generally so that the developer can create more lots, usually because the roads required for a Fee Simple subdivision are wider than that of the Bare Land Strata. The Bare Land Strata usually owns the main road, although often they are returned to the City/Municipality at a later date, due to maintanance issues. I the strata retains the ownership of their roads or septic fields (if they are not on sewer) then the Strata is responsible for maintenance. An example would be in winter when there is a snow fall, the Strata would be responsible for their own snow removal. Another example would be street lighting, quite often a Bare Land Strata is responsible for maintaining and running steet light, whereas in a standard subdivision they Municipality would maintain and run lighting. To accomodate these responsiblities a Bare Land Strata usually sets up a contingency fund, although it is my experience that they Strata's are not run as tightly as a Townhouse or Condominium Strata. The owner of a home in a Bare Land Strata is still responsible for maintenance of their own lot and dwelling on that lot.
Strata Duplex
This is a dwelling that is connected to another dwelling on the same lot. Usually the lot is of a larger size than that of a Single Family Dwelling lot and the Municipality allows for a higher and better use. The connection could up and down or side by side. Generally there is not a strata fee applied to this type of Strata as there would be in a Strata Townhome development. It is generally up to the owners of each individual unit to come together and work on needed repairs when they arise, such as a new roof, new fence, perimeter drain repairs or even painting of the dwelling. The inside as in the case of a Townhome/Condo is still the responsiblity of the individual owner. The difference between a Strata Duplex and a Duplex is a Strata Duplex can have individual Strata units sold whereas the Duplex is sold as an entire unit eventhough there is two dwelling units in the complex. The same principle would apply in the Case of a Strata Triplex vs. Triplex or Strata Fourplex vs. Fourplex etc.
Strata Manufactured Home:
This a very rare commodity, as there is only one existing Strata Manufacture Home Park in Greater Victoria, that being Summer Gate Village on the Peninsula. The Same concept applies to a Strata Subdivision, however you are dealing with a Manufactured home as compared to a Frame House.
Tim Beaumont
DFH Real Estate - Sidney
Email:
|