Flood victims face tough decision: rebuild, or walk away

CALGARY- Dozens of Calgary homeowners who lost their homes in the June flood have been given the option to walk away—and some are taking it.

The province has offered to buy and tear down about 250 homes across the province that were badly damaged, including some in the southwest community of Roxboro.

87-year-old Ted Best has lived in his riverfront home since the late 1970s. He has accepted the government’s offer to buy it for $1.54 million, which was the city assessed value pre-flood. However, that’s less than the $2 million he believes he could have gotten if he’d sold the home.

“Our house is old and was wrecked, the basement had to be supported and the first floor is all empty. It just isn’t worthwhile repairing it,” he explains. “I think it’s a fair deal, but it isn’t as much as what the house was worth.”

14 homes along Roxboro Road have been offered the buyout. So far, a third of them have accepted the deal, while the rest are opting to stay and rebuild at their own risk.

Decisions about the buyout must be made by November 30.