Cottages/homes on First Nation reserves, pros/cons?

Does anyone have any real expertise or direct experience about the pros/cons of buying a cottage/home on leased FN reserve land? They always seem to be so much cheaper but of course you can't own the land the home/cottage is on. Sometimes, the lease can be automatically extended (like 20 years) when there is a transfer of ownership. No property taxes (of course since you don't own the land) but there are lease fees that can be similar in amount to property tax for similar "property". And there maybe a fee for the local "municipal" services like policing, road maintenance, fire dept., garbage/recycling pick-up, maybe even water/sewage/ etc., etc.
Just wondering why no more people are "jumping" on such cheap cottages/homes if affordability has been such a large issue? yes, you don't own the land but being able to live on some nice waterfront so cheaply and possible with a 20 year lease maybe a pretty decent option, no? As compared to not being able to afford a cottage/home twice the price, with property taxes OR having to rent, which ends up being expensive as well and you still end up not owning the home or the land anyway. At least with the home/cottage, you own the home/cottage even if you don't own the land and owners can sell the home/cottage for the new owners to take over the lease or get a new lease. Thoughts and info from those who have done this in the past or know the issues would be greatly appreciated.

In Vancouver, an entire community by UBC was setup that way, and then the band council changed and declared all the contracts null and void because they said that the previous council didn't have the right ancestral right to make the contracts. Went to supreme court and the province settled and bought the homeowners out and the band then went and re-leased them to an entire new group of people.
It's an issue in canada that with all the concessions and rights given to First Nations, that there is a huge amount of ambiguity on things like contract law that the governments have not worked out yet.
I'm not saying that the local bands will be unscrupulous, but things change and with unknowns comes risk which is why prices are low. Best to go into these things eye-wide-open and get appropriate legal advice as well.

Lease your cars. Own your real estate/land.

Cars are one of the worst big-ticket common investments you can own.

Houses/property are one of the best to own.

Thanks. That's why I am asking. With such uncertainty, it make sense that the prices are so low.

I wouldn't touch that with a 20 foot rod. I might rent but wouldn't take and leave anything there that's worth anything. A number of years ago there was a kerfluffle around Bruce county with leases being cancelled.

Thanks for that info.

The Jocko Point area on the shores of Lake Nipissing is all owned by the Nipissing First Nation.
I have never heard of any problems with homes in that area. I've known dozens of people who either owned their home or their cottage.

I'm not aware of if the banks treat the mortgage any differently. I had a lease cottage in Quebec and I had no problems with the bank.

Thanks. Good to hear there are some places without issues. But given the uncertainties at some and I was asking more as a 4 season place to live (maybe half the time), it's just to risky for me. If it was just a 3 season (and maybe shared) cottage, I would consider trying it to reduce the amount being risked.

Lots of homes in Jocko Point are year round homes.

You don't specifically mention where you are looking.

Yeah, there are lots of 4 seasons. What I meant to say that it may be too much of a risk for putting that much money into a 4 season place...a shared 3 season would be more comfortable for my financials to try something like this.
There is nothing specific I was looking at in terms of which reserves. I just happened to notice the much lower prices and was wondering why and why not more people were looking this option if affordability in housing was the main issue so I asked on this board to get some thoughts from those with experience.

Google Hope Bay Cape Crocker cottages dispute 2007.

That's a different scenario altogether.