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09-27-2011, 08:54 PM
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#1 | | SiRVs up, dude
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| Vancouver East / West Price differences
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09-27-2011, 09:00 PM
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#2 | | RS controls my life!
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Case 5: $2,988,000 4 Beds, 2 Baths 125 W 41ST AV, Vancouver  | |
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09-27-2011, 09:01 PM
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#3 | | G'd up! w000weee
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Nothing new here...the land in the West side is worth much more. End of story!
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09-27-2011, 09:08 PM
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#4 |
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its not just housing either lol. do an investigation, go to urban fare then go to save on foods in like richmond. the are essentially the same store. same items cost less in richmond. jimmy p. owns both stores, just trying to make a couple more bucks off the people downtown.
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09-27-2011, 09:21 PM
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#6 | This title intentionally left blank MOD
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| Quote:
Originally Posted by dbaz  its not just housing either lol. do an investigation, go to urban fare then go to save on foods in like richmond. the are essentially the same store. same items cost less in richmond. jimmy p. owns both stores, just trying to make a couple more bucks off the people downtown. | Factor in transit costs and difficulties with shipping stuff via large truck into the downtown core, as well. You pay a premium for living in the "premium" area.
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09-27-2011, 09:41 PM
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#7 | | SiRVs up, dude
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I wonder what kind of jobs the new buyer's have to be able to own/afford a place at these sky high costs.. I was looking at mortgage calculators on some random sites lately and I worked out that for a 3 million dollar house:
- 150,000 down payment
- 30 year mortgage rate (~4%)
You need a gross $510,000 combined family income paying a monthly mortgage rate of $14,000/MONTH  | |
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09-27-2011, 09:59 PM
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#8 | | I only answer to my username, my real name is Irrelevant!
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The problem with those comparisons is the building ages are different and the lot size isn't known which will affect the value and let's not forget these are "asking prices"
so im willing to believe there is a difference in pricing even though they may be a block or two away but how drastic a difference is something that isn't known/described accurately to us in the article
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09-27-2011, 10:09 PM
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#9 | | My bookmarks are Reddit and REVscene, in that order
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| Quote:
Originally Posted by SiRV I wonder what kind of jobs the new buyer's have to be able to own/afford a place at these sky high costs.. I was looking at mortgage calculators on some random sites lately and I worked out that for a 3 million dollar house:
- 150,000 down payment
- 30 year mortgage rate (~4%)
You need a gross $510,000 combined family income paying a monthly mortgage rate of $14,000/MONTH |
They aren't for new buyers. It's for people who already have decent career jobs and own their current place. Then they sell and mortgage again, but this time borrow a lot less, thus less monthly payments.
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09-27-2011, 10:11 PM
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#10 | | HELP ME PLS!!!
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FFFfffuuuu-, that's basically my neighbourhood, and i'm on the 'one block east' side.
__________________ Visit my food blog! http://jaxandcs.com/ *its not the size of your army that matters; it's the fury of it's onslaught!* █♣█
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09-27-2011, 10:17 PM
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#11 | | Diagonally parked in a parallel universe
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How am i gonna afford a home in Vancouver...?
I'm better off living with my parents until they give me their house. 
Or a condo would be nice..
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09-27-2011, 11:18 PM
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#12 | | I WANT MY 10 YEARS BACK FROM RS.net!
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I wanna see West Van vs West Side comparsion
probably make the West Side homes look East Van in comparison  | |
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09-28-2011, 01:34 AM
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#13 | | Banned (ABWS)
Join Date: Dec 2009 Location: Surrey
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| Quote:
Originally Posted by SiRV I wonder what kind of jobs the new buyer's have to be able to own/afford a place at these sky high costs.. I was looking at mortgage calculators on some random sites lately and I worked out that for a 3 million dollar house:
- 150,000 down payment
- 30 year mortgage rate (~4%)
You need a gross $510,000 combined family income paying a monthly mortgage rate of $14,000/MONTH | equity my son. equity.
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09-28-2011, 02:40 AM
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#14 | | Banned (ABWS)
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west vancouver range from 3mill - 10mill http://jaybanks.ca/vancouver-real-es...ties-homes.php
west side can go from 1.5mill - 20mill ++ | |
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09-28-2011, 02:42 AM
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#15 | | Fathered more RS members than anybody else. Who's your daddy?
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Originally Posted by Teh Doucher equity my son. equity. | Damn, wish I can find the old TV ad where two little kids are looking around the house with a flashlight. Brother says, "What are we looking for?" "Dad says there's money in our house called equity." We just have to find it."
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09-28-2011, 05:22 AM
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#16 | | Banned (ABWS)
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Originally Posted by SiRV I wonder what kind of jobs the new buyer's have to be able to own/afford a place at these sky high costs.. | not by being an employee that's for sure. most likely small business owners
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09-28-2011, 07:36 AM
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#17 | | Banned (ABWS)
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You guys are looking at the houses when you should be looking at the land. Posted via RS Mobile | |
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09-28-2011, 07:54 AM
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#18 | | Banned (ABWS)
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Originally Posted by see.lai How am i gonna afford a home in Vancouver...?
I'm better off living with my parents until they give me their house. | How are you going to afford the property tax? If the house is worth $2M, your taxes would be $8500/yr.
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09-28-2011, 08:00 AM
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#19 | | Banned (ABWS)
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Originally Posted by doma You guys are looking at the houses when you should be looking at the land. Posted via RS Mobile | Don't look at either, prices are just stupid.
My GF's 1500sqft character home (without a suite, without a full height basement, without a garage, with an awkward attic bedroom) in Kits was $460K in 1998, about the same in 2002, and today would go in a bidding war for $1.5M. The price more than tripled in less than 10 years when on average real estate doubles every 25 yrs.
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09-28-2011, 08:01 AM
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#20 | | My name is PJ and I like dogs.
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Originally Posted by taylor192 How are you going to afford the property tax? If the house is worth $2M, your taxes would be $8500/yr. | Isn't that only ~$700 a month..
If his parents gave him a house and he can't come up with $700/month for a roof over his head, then he's got more problems than just money.
__________________ Studies show 100% of people die.. Might as well have some fun.
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Last edited by PJ; 09-28-2011 at 08:13 AM.
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09-28-2011, 04:33 PM
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#21 | | Even when im right, revscene.net is still right!
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Just buy in White Rock. Living in Vancouver is overrated.
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09-28-2011, 04:39 PM
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#22 | | Banned (ABWS)
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Originally Posted by Mr.C Just buy in White Rock. Living in Vancouver is overrated. | You cant say that because your from surrey. Im from Vancouver and it is not overrated because everything is close by and convenient, i can drive anywhere in the GVA within 20min.
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09-28-2011, 05:29 PM
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#23 | | RS controls my life!
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Originally Posted by doma You guys are looking at the houses when you should be looking at the land. Posted via RS Mobile | This. I worked as an asbestos remover for a short time and we had to tear a house down near kits beach. The house was sold 6 months before we tore it down for 2.4 million. The place was hideous and crappy. 1 bathroom and maybe 4 bedrooms. Someone bought it just to tear it down so they could build an apartment building instead.
The housing market in this city is redonk. That 2 million dollar house seems like a steal of a deal. But in a place like edmonton that house would be around the 400,000 mark.
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09-28-2011, 10:04 PM
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#24 | | Even when im right, revscene.net is still right!
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Originally Posted by shawn79 You cant say that because your from surrey. Im from Vancouver and it is not overrated because everything is close by and convenient, i can drive anywhere in the GVA within 20min. | I'd rather buy something in Ladner or South Surrey or even frickin' Fraser Heights. When we moved here, we looked at Vancouver, then noted that unless you are living in Yaletown, you need a car for *everything*. And plus, houses that look like crack shacks for 1.5 mil? That's insane. There's nothing in Vancouver, and I mean nothing, that makes a crap house worth that much. If you live at E 22nd and Ontario, there really isn't a lot close by. Nothing that couldn't be found close by in Burnaby or Coquitlam or Surrey or Langley.
Vancouver is very, very overrated. I have traveled quite a bit. You know where everything is close and convenient? Paris. Rome. London, to an extent. Rio de Janeiro, even. Asia, in general, although I haven't been there yet. The Lower Mainland has a big separation of residential areas and commercial areas. That makes it so that you can't feasibly walk anywhere and do your groceries and shopping, unless you happen to live near a "Centre" (Metrotown, Richmond Centre, Lougheed Town Centre, Edmonds Town Centre, etc). Even, say, if you live down on 65th and SW Marine, and work downtown, you're looking at about 45 minutes between buses and train. From here in Surrey, I take a total of 45 minutes to make it downtown.
Except for the postal code, no difference, really.
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09-28-2011, 10:11 PM
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#25 | | SFICC-03*
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Originally Posted by SiRV I wonder what kind of jobs the new buyer's have to be able to own/afford a place at these sky high costs.. I was looking at mortgage calculators on some random sites lately and I worked out that for a 3 million dollar house:
- 150,000 down payment
- 30 year mortgage rate (~4%)
You need a gross $510,000 combined family income paying a monthly mortgage rate of $14,000/MONTH | new buyers dont buy 3m homes.. unless you're a hockey player or some shit
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