Vancouver's Real Estate Market

[68style]

Originally Posted by supafamous

https://www.360dreamhomes.com/about-us/

They got 2 white guys in the staff photo so they must be a legit builder.

They're probably Immigration Canada reps

[GS8]

Originally Posted by supafamous

https://www.360dreamhomes.com/about-us/

They got 2 white guys in the staff photo so they must be a legit builder.

There's 17 eyebrows in this photo

[Alpine]

https://twitter.com/russilwvong/stat...5Es2_&ref_url=

"Multiplex guidelines: three storeys, 50% site coverage. For a 4-plex on a 33 x 122 lot, that's about 1500 square feet per unit. At least 1 parking space per unit."

"Within a 5-minute walk (400 m) of frequent transit: up to 6 units, three storeys, 60% site coverage. For a 6-plex on a 33 x 122 lot, that's about 1200 square feet per unit. "

Wow. Up to 7200sqft on a standard lot... I'm not against quantity (would much prefer TH/row/low rise) but this is going to be a shitshow.

[snowball]

They need to get rid of the "all units must have a front door facing the street" BS for duplexes and similar.

These multi units need to stop pretending they are SFHs and just admit they are multiplexes. That will allow for better designs to exist.

[supafamous]

Originally Posted by snowball

They need to get rid of the "all units must have a front door facing the street" BS for duplexes and similar.

These multi units need to stop pretending they are SFHs and just admit they are multiplexes. That will allow for better designs to exist.

The new guidance from the province recommends removing that requirement as well.

I, for one, can't wait to see this policy in action. My block has been rezoned to allow a minimum of 8 stories at 3FSR and it's what needed if we're going to address the housing crisis (I'm a 12 min walk from Patterson).

[supafamous]

Originally Posted by Alpine

https://twitter.com/russilwvong/stat...5Es2_&ref_url=

"Multiplex guidelines: three storeys, 50% site coverage. For a 4-plex on a 33 x 122 lot, that's about 1500 square feet per unit. At least 1 parking space per unit."

"Within a 5-minute walk (400 m) of frequent transit: up to 6 units, three storeys, 60% site coverage. For a 6-plex on a 33 x 122 lot, that's about 1200 square feet per unit. "

Wow. Up to 7200sqft on a standard lot... I'm not against quantity (would much prefer TH/row/low rise) but this is going to be a shitshow.

https://twitter.com/lanefab/status/1...8FzLQgvcZFnsDw

This is what it might look like potentially but it's unlikely to actually play out this way b/c when you try to do 6 units it makes things more complicated with the building code (eg. you need an elevator).

Most likely you're going to end up a 4-plex with each unit measuring 1800sf or some mixture of that. That's really not much different than the stacked townhouse developments that are happening which are at 1.2FSR except they're bigger per unit (like an extra bedroom or two - potentially a usable lockoff suite).

Feedback from some developers say that the costs of construction mean that very few of them will pursue the full size but at least now they can if the financials make sense.

[68style]

I think that might be a bit easier to say when you already own a huge house on your own property though... if I'm sitting here in a condo wanting to own a house and can't afford it, the last thing I want to hear is that the way things are being made affordable is to cram me onto a lot with 3, 5, or 7 other dickheads, thereby potentially driving down the available supply of detached houses and prices of detached houses up.

Note: I am not expecting prices to fall for me/don't really want them to... just saying, that's kinda the life a lot of people are trying to escape not get into.

[Harvey Specter]

This must be a record sale for south/east Vancouver.

[westopher]

What the actual fuck. Why?

[Harvey Specter]

Originally Posted by westopher

What the actual fuck. Why?

The house is also facing a cemetery so wtf x 100.

[JDMDreams]

^^^ then you can't blame da Chinese fo sho

[supafamous]

Originally Posted by 68style

I think that might be a bit easier to say when you already own a huge house on your own property though... if I'm sitting here in a condo wanting to own a house and can't afford it, the last thing I want to hear is that the way things are being made affordable is to cram me onto a lot with 3, 5, or 7 other dickheads, thereby potentially driving down the available supply of detached houses and prices of detached houses up.

Note: I am not expecting prices to fall for me/don't really want them to... just saying, that's kinda the life a lot of people are trying to escape not get into.

The dream of the detached home is largely gone if you're talking about urban areas already - the number of people who can swing a $2m house is tiny anyways.

BUT it's actually possible to densify AND increase the supply of detached homes though - all cities have to do is remove their minimum lot sizes for detached lots so that large lots can be subdivided. I live on a block that has about 250,000sf of land and there are only 29 homes on it. The smallest lot is 4700sf and the biggest is 16000sf - all of this is walking distance to Skytrain and there's no reason why these lots couldn't just be subdivided into separate lots.

The biggest one (16,000sf) is assessed at 2.8m in land value - if the city just changed their rules on lot sizes you'd have 5-6 detached lots to build on that would be "affordable" that would still have decent back yards.

Every city could do this easily to increase the supply of detached homes.

[underscore]

Originally Posted by Harvey Specter

The house is also facing a cemetery so wtf x 100.

ngl I'd pay extra to face a cemetery. Well landscaped and always quiet with no chance of some weirdo moving in.

[JDMDreams]

Yes, I drove up to Squamish recently and we have lots of land. But lots of is forest or undeveloped. There's so much land in Surrey or Richmond

[GS8]

Originally Posted by Harvey Specter

This must be a record sale for south/east Vancouver.

Here's what stood there before

https://tours.bcfloorplans.com/publi...16768#!/photos

[Gumby]

Originally Posted by westopher

What the actual fuck. Why?

The lot is slightly wider than standard (36' vs 33') but extremely deep (183' vs 122'). As a result, they have a deck, grass, sports court, and laneway with a single garage.



And yes it's directly across from a cemetery so it's not for everybody, but it will be relatively quiet!

[JDMDreams]

Ooooo the neighbor has solar, I wonder if it's enough to not pay any bc hydro

[Badhobz]

fuck narrow houses. has no presence. with that kinda money you can buy a McMansion in richmond and not have to deal with zombies. what a retard.

[snowball]

Originally Posted by 68style

I think that might be a bit easier to say when you already own a huge house on your own property though... if I'm sitting here in a condo wanting to own a house and can't afford it, the last thing I want to hear is that the way things are being made affordable is to cram me onto a lot with 3, 5, or 7 other dickheads, thereby potentially driving down the available supply of detached houses and prices of detached houses up.

Note: I am not expecting prices to fall for me/don't really want them to... just saying, that's kinda the life a lot of people are trying to escape not get into.

I think I'd rather share a (well planned) lot with 3-4 other dickhead families than be part of a condo or strata with 100-200 other dickhead families. Most houses in East Van already have 2-3 families per lot. Higher density is possible with again, good planning, but I am afraid they might turn into slums as well if the city/province says do whatever.

[PeanutButter]

Originally Posted by supafamous

https://twitter.com/lanefab/status/1...8FzLQgvcZFnsDw

This is what it might look like potentially but it's unlikely to actually play out this way b/c when you try to do 6 units it makes things more complicated with the building code (eg. you need an elevator).

Most likely you're going to end up a 4-plex with each unit measuring 1800sf or some mixture of that. That's really not much different than the stacked townhouse developments that are happening which are at 1.2FSR except they're bigger per unit (like an extra bedroom or two - potentially a usable lockoff suite).

Feedback from some developers say that the costs of construction mean that very few of them will pursue the full size but at least now they can if the financials make sense.

Would you still need six dedicated parking spots? or is that only for the four plexes?

[PeanutButter]

I'm pretty happy about the four plexes on a standard lot.
Now, I don't have to worry about my children's housing for the future anymore.

If we can build four 1,500 sq/ft units on my property, we're set. I'll take the top floor, my two kids can take floors two and three and we can rent out the first level for income.

It'll be our generational home. I feel like this would be a no brainer for so many families.

[twitchyzero]

im probably just hating because i cant afford but why put a huge headstone for house numbers, looks like it's trying to out-do the cemetery across

Originally Posted by snowball

They need to get rid of the "all units must have a front door facing the street" BS for duplexes and similar.

the new proposal seems to allow garage/parking spots to abut the main street even if the rest of the homes all have off-street parking towards alley

the photo looks like it but i didn't deep dive into the 200pg+ article...i should control-F to see if setback is also up to be modified

[JDMDreams]

But how are you gonna get the $2m that it costs to build?

Originally Posted by PeanutButter

I'm pretty happy about the four plexes on a standard lot.
Now, I don't have to worry about my children's housing for the future anymore.

If we can build four 1,500 sq/ft units on my property, we're set. I'll take the top floor, my two kids can take floors two and three and we can rent out the first level for income.

It'll be our generational home. I feel like this would be a no brainer for so many families.

[68style]

That’s a lot of assumptions that your kids are gonna want to live with you or even like you lol

[whitev70r]

^ And even bigger assumption that their future partners would want to live in a village / communal house with you. Prob best to do what you envision and rent out all three units ..should be enough to get that dream JDM car with that rental income.