In big cities in the United States and Canada, there are basically two ways to purchase housing: buy real estate, or rent it from a landlord, typically with tenancy defined by a one year lease or month-to-month agreement. Neither of these are the product that I actually want!
Conversation
The two things I most want in my housing are (1) bounded-downside stability (i.e., the option, but not the obligation, to remain in the unit) and (2) control, such as the ability to make improvements to the property as I see fit. With these options, I have to buy to get them.
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I don't actually want to buy though! In particular, I am not interested in speculating on land prices in my area. In expensive North American cities like Boston, that is >50% of what I'd pay for by buying a place!
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Because land is expensive and zoning (et al) limits the housing supply, this makes buying a place very expensive. I'd end up being extremely long the housing market in my neighbourhood, and not at all diversified.
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What I actually want is pretty close to a commercial lease: reasonably long, with defined terms for early termination, and with basically complete rights to refinish the interior.
Replying to
My understanding is that this exists to some extent in certain countries (e.g., Germany and the Netherlands), where multi-year leases and apartments that e.g., require you to bring your own kitchen are available.
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More speculatively, what I really want is the ability to own *my unit* but rent/lease the right to occupy the *land*. Of course that can't happen unless the unit can be relocated. 🤔