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My wife and I are starting to think about moving back to Vancouver. Currently just renting in TO. We found an apartment listing that suites our needs, 2 bedroom (+ small office space) 1 bath, balcony for close to $500k. It's also really close to our family and friends. It's in a mid 90s building and was renovated and looks a lot like most modern apartments today. Never thought I'd consider buying an apartment at this price but it seems perfect for us and would still be a decent size for when we have a kid. Would it be much harder to close on a house while we are in TO? We're gonna be back for Christmas but doubt this would still be there. |
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Dryr - Check Fridg - Check Stve - Check It's 58 million dollars, Fucking Micheal Caine better be waiting on me hand and foot... |
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You could probably buy the apartment sight unseen and work with a mortgage broker to secure your financing from Toronto, but the question is would you want to? Pictures don't tell the whole story. Something that might work in your favour is that most 2-bedroom units now have 2-bathrooms and that is something the majority of buyers now want. This unit could sit longer on the market because of that. |
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I just realized it's in the same building that a childhood friend of mine has lived in, I'm going to check with him and see if his family knows what's been done and how the building is from their perspective. It's been on the market for a little over 2 weeks now so maybe everyone is looking for the 2bed/bath. We don't mind if it's only 1 bath. |
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8000+ sq ft Three harbour green About it seemingly. Thought the Shangrila PH went for like 28 within the last few years so it does seem quite high |
I wonder what it went for brand new |
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But it's valued at 22 ish million. And sold for almost 18 million in 2014. All in all 58 million is a bit of a stretch (Or you know about 30 million worth of a stretch). E-value: https://evaluebc.bcassessment.ca/Pro...AwMDBGUzFGQg== |
Maybe 58 mil includes the 15% foreign tax.. :troll: |
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They won't cut open the walls to check for issues that you see on Holmes on Homes. The strata will not give them access to the roof or access outside to check the caulking around the windows. As a potential buyer, ask your realtor to get access to the building's depreciation report. Since it is now the rainy season, any issues in the unit will be show up. Look for water around the base of the windows. See if the drywall is soft or moist and if there is any pooling water on the window ledge. Not to mention, home inspectors are not insured so even if they claim the condo is fine and a few months down the road, something happens, the owner is still on the hook for all costs of repairs. |
home inspectors are a joke for the most part. especially in a condo where they won't have access to all the major systems |
Thanks for the info everyone. The in-laws went to the open house this weekend and said the unit itself was nice and would be the perfect size for my wife and I. They know what we like and have seen our current place in TO. That said, their reservations were with the building itself. Like everyone said, since it's old, the future repairs might end up being problematic. Also going to be taking it a little slower and see if there are any developments that interest us when we visit during Christmas season. |
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For the record I'm not an inspector LOL. |
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Like I said, they won't be cutting holes into walks to see what is going on behind the walls, especially around windows. I'm glad you are not an inspector because yes, rain down fall down hence why you look at the walls under the windows. And the insurance they have will not pay out if the inspector has done all they can do and later on there is a water leak problem in another unit and everyone has to pony up. The best bet is look at the history of the building, old strata meeting minutes to see if anyone has complained about water issues, and the depreciation report. Pay attention to what has been serviced and what will need servicing. Hot water tanks have a life span. |
Who in there right mind would pay $2million to live right beside YVR and a runway? https://www.realtor.ca/Residential/S...olumbia-V7B1H8 |
^ Asian people. Most Asians are actually are kool with living close to airports. |
Burkeville is actually quite a desirable area. Quaint and very tightknit community feel. Airport proximity not withstanding. |
didnt even realize there was a neighborhood in that little pocket.. |
I bought some Weber's in that area in the summer. Never knew that place existed, and I work out of the airport. Neat area though, I liked it. |
That's a beautiful house though. |
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even 18 million is highly outrageous knowing what 2 million can normally buy you without being in a High Demand overpriced housing market...the yearly land tax on that also is gonna be sucking you dry unless you're fully ready. |
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