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Vancouver Off-Topic / Current EventsThe off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.
Yep, that's about the going rate for a new build on a standard lot in East Van. The builder should make a pretty good amount on it too - lot was bought in Oct 2020 for 1.37m.
I couldn't imagine having a budget of 6 Million and looking at a house like that lol who the fuck has that kind of money that would even entertain that?
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Wow I thought I had a pulse on the RE market but clearly I'm super out of touch based on these listings shared here...
I've been keeping track of Tsawwassen listings and noticed this seller raising their asking price after years of not finding a buyer. They did some basic maintenance and relisted the place as 'fully renovated' for $300k more. Makes me wonder what condition it was in before the 'reno' - they can't even mount the washroom mirrors properly. I guess it's empty at least and the neighboring properties look nice...
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This stunning FULLY RENOVATED house is located on the prestigious English Bluff Road! Massive 12,217 sq. ft. rectangular lot located on Tsawwassen's "Street of Dreams" just a three-minute walk from the Tsawwassen beach. 6 bedroom home offering over 2,600 square feet with many opportunities. Close to Tsawwassen Mills shopping mall, top-rates school like South Pointe Academy and English bluff elementary school and many other great amenities! In addition, the property is located on a large lot, providing plenty of space for outdoor activities. The great potential for investment & living-in with mortgage helper. Possibility for building a new duplex in the future. The house is move-in ready and perfect for those who appreciate quality and the beach lifestyle.
Ugh, the flooring is so amateur. It's so annoying when these amateur floorers don't stagger the boards properly.. $3.5M house and someone's uncle on the weekend is doing the flooring.
That's one of the interesting things about the housing market, it doesn't matter the product, it's going to sell.
I renewed last year at like 3.2 variable or something, I think fixed was 3.6 at the time or such.
Current variable rate is 6.2 variable, rates go up in 2 days.
Talked to a mortgage broker, one straight up told me I can't renew with them since my properties are only counted at "1/2 income", and my amortization is so high per say at current variable rate. Told me to go with the bank, honest guy over the phone, someone from rocket mortgage.....
Anyways.
Bank said 5.4% for 4 year fixed, no fee to break variable.
If I went 3 or 2 year fixed, it would be 4k to break. And a slightly higher rate.
Payment went up by 350/mo on 2xx,xxx remaining.
Total of 17k interest over 4 years to keep my current amortization if my maths are correct.
I could go up to 30 year amortization, and payment would drop, but I do want to pay off this property. Interest difference between 19 years and 30 years is only like 2k...
350/mo increase ain't bad, it ain't great. At least I'm back on track, and no longer paying "100% interest" on my payments.
Now that I have locked in, the rates will drop....... Right?.... Right?!?!?....
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Originally Posted by Mr.Money i hate people who sound like they smoke meth then pretend like they matter.
Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
My partner and I were talking about this the one day. We have friends, professional higher-income (probably $400-450K/each in billings) DINKs. We were chatting one evening and they told us their monthly CC bill is $15-20K, which their income can support... but later that night we were trying to figure out where that all went?
Both drive non-luxury albeit new cars (Accord and CR-V). Their house was probably $1.5-1.8M when they bought it, pre-COVID, and their mortgage isn't on their CC anyways. They don't take a ridiculous number of vacations. They aren't kitted out in lux/designer clothing/products.
Then we went on a weekend trip with them and it clicked. They paid $40 for 6 butter tarts at a "cute" bakery on the tourist strip. For the hotel, they just called up the Marriott and took whatever rate offered on the phone. Rental car: they paid for the upgrade to an SUV without taking advantages of discounts or free upgrades for joining the loyalty program. Didn't think twice about parking for the day in the most convenient lot for $48 instead of parking 1-2 blocks away. While we were there, they talked about buying tickets to a concert that were resales via StubHub for $$$ markup.
It's fine, we don't judge them for it - they can afford it, and maybe the convenience is worth it more than the $$$ saved. But it suddenly made sense where all the money was going.
A lot of professions you need to spend money to make money. The glamour of "450k" billables sound amazing, but they don't tell you how much they need to spend to keep up with their clients and maintain a relationship(s).
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Originally Posted by westopher
I literally hate it haha. It's crazy to see 5+ million dollar homes that don't have a single feature that interests me beyond that it has 4 walls and a roof.
The 4 walls is basically the feature
Quote:
Originally Posted by PeanutButter
Ugh, the flooring is so amateur. It's so annoying when these amateur floorers don't stagger the boards properly.. $3.5M house and someone's uncle on the weekend is doing the flooring.
That's one of the interesting things about the housing market, it doesn't matter the product, it's going to sell.
Enlighten me, what is staggering the boards properly? I'm legit interested.
Quote:
Originally Posted by donk.
In case anyone was wondering
I renewed last year at like 3.2 variable or something, I think fixed was 3.6 at the time or such.
Current variable rate is 6.2 variable, rates go up in 2 days.
Talked to a mortgage broker, one straight up told me I can't renew with them since my properties are only counted at "1/2 income", and my amortization is so high per say at current variable rate. Told me to go with the bank, honest guy over the phone, someone from rocket mortgage.....
Anyways.
Bank said 5.4% for 4 year fixed, no fee to break variable.
If I went 3 or 2 year fixed, it would be 4k to break. And a slightly higher rate.
Payment went up by 350/mo on 2xx,xxx remaining.
Total of 17k interest over 4 years to keep my current amortization if my maths are correct.
I could go up to 30 year amortization, and payment would drop, but I do want to pay off this property. Interest difference between 19 years and 30 years is only like 2k...
350/mo increase ain't bad, it ain't great. At least I'm back on track, and no longer paying "100% interest" on my payments.
Now that I have locked in, the rates will drop....... Right?.... Right?!?!?....
200k mortgage is chump change.... I would love to have a only 200k mortgage right now. Most people I know would too.
It’s a bit less of a concern with wider plank flooring like that but some of those planks are like 3-4” overlap at the seams which is just bad/lazy practice
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Dank memes cant melt steel beams
Rates are a crap shoot right now. It's a self re-enforcing loop of higher rates mean higher inflation in this current environment. My guy from TD basically guaranteed a BoC rate hike for July. Sept looks like a 50/50 right now.
We threw in the towel and are trying to lock in. We were hoping for it to have ended and just scrape by, but we can't stomach another 0.5% hike. With no end in sight we'll have to lock in.
Enlighten me, what is staggering the boards properly? I'm legit interested.
For a space that size no seam should ever touch. This will result in increased flooring waste, but you won't get that uniform look. And it will be the most natural look.
If you're on a budget and want minimal waste, at least don't let a seam touch until every fourth row.
Look at the bottom right, there are literally three seams touching out of five rows. This is so egregious
You should also never get a triangle peak like this one.
The stairstepping in this picture.. ughhhh
I know most people couldn't care less, but it just adds to the ridiculous nature of our real estate market. It's just the fact you're paying $3.5M for this house.. if this was quick reno and you wanted the cheapest contractor okay, I wouldn't be so peeved, but for a brand new "luxury" house... sigh.
Yeah everyone was saying "Variable historically works out better over the term" which is probably true, but you still have to be able to get through making the payments at the high points..
For a space that size no seam should ever touch. This will result in increased flooring waste, but you won't get that uniform look. And it will be the most natural look.
If you're on a budget and want minimal waste, at least don't let a seam touch until every fourth row.
Look at the bottom right, there are literally three seams touching out of five rows. This is so egregious
I know most people couldn't care less, but it just adds to the ridiculous nature of our real estate market. It's just the fact you're paying $3.5M for this house.. if this was quick reno and you wanted the cheapest contractor okay, I wouldn't be so peeved, but for a brand new "luxury" house... sigh.
sorry can you point it out a little more obviously? i cant see it! lol
It may not be so evident to a trained eye, (ecen I didn’t see the stepping etc.)
But it’s probably even more evident in person. It just looks really bad. I should actually add that into my walk through list I had. In new construction like a pre-sale etc. you could probably get them to tear it up if it was installed like that
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Dank memes cant melt steel beams
sorry can you point it out a little more obviously? i cant see it! lol
So what he's talking about is the end of the planks should not line up across multiple rows.
The other one is the stair like arrangement where the ends of the planks is staggered the same amount across multiple rows giving a stair like look.
I have both of these problems in my house but my installer was cheap
I did notice it when we walked in, but it was done already.
No flooring knowledge here, is this the case because the flooring folks just randomly put the planks down without looking at the big picture of what kind of pattern/swatch they'd end up unintentionally creating? Instead of a uniform looking floor?
You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!
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