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Becoming snoozeville? Parts of the West Side perhaps, but it's never been exciting out there. LOL @ comparisons to Vancouver vs Port Moody's excitement factor. Granted we are not Berlin, Tokyo, or NYC but come on. Keep drinking the Kool Aid...or should I say, your hop-tastic IPAs |
Outside of pockets of port moody you still need a car. the vast majority of Vancouver you dont. I get the hype, seems like a nice place, up and coming neighborhoods, decent access to surrounding areas. However, it's obviously not Vancouver. Growing up in Fraser heights and then living with my wife in Burnaby i never got this thing where her friends in Vancouver would literally never come out to burnaby, even though its only a 25 minute drive or so, and we lived literally right beside lougheed skytrain station fast forward to living in Vancouver now and i completely get it. I almost never go out to surrey anymore and if i do it might be once a week to visit my grandma. Events, concerts, restaurants, etc. are still all in the city, and if you live outsite, you're still coming in for those things. if you're homebody with 2 kids its one thing, but for couples with no kids or single people, you dont beat the city |
Deal of the century in Kitsilano: EleGiggle https://www.rew.ca/properties/R22934...e-vancouver-bc asking $3,990,000 https://res.cloudinary.com/grieg/ima...173158/01.jpeg |
in that state at least you probably save 50k on asbestos removal. |
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^ Thought offers were still flying. Even if it's a little bit under asking. |
I don’t recall how any of my mortgages were calculated in the past prior to the new rules However, you buy that townhouse for 1.1, the strata is 360 a month. So how much overall do you have to qualify for? That’s another $4300 a year on top of property taxes etc. On the flip side you buy the detached with a suite for 1.3 that generates $18,000 a year in rental income. For a bank I would assume the higher amount but with a revenue generator is more favorable? |
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Not laying it on thick - just stating what I see. |
When we bought last year my broker said the lender will assume 75% (I think 75%) of the market value of the rental and add that onto your gross income which would bump up your qualifications. Eg 100k/ year household income. $20k/year rental unit. You qualify as of you had a $115k household income |
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Was just there yesterday and couldn't believe the number of proposed condo developments going up in EV. All the rezoning and laneway homes. It's just nuts. I guess when you only go back every now and again it's quite a shock. Didn't help that first is all torn up as well so Hastings and Grandview are both even worse than usual. |
Double post |
east Van condos is not even on the scale of neighbouring Burnaby's traffic is far from great but way better shape than on the north shore I will agree that laneway means street parking are gonna see more buckets and passive aggressive notes |
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https://www.google.ca/maps/place/257...4d-123.1637148 wonder what happened. red house to the right looks worse than this house was |
i'm gonna guess a grow op house that turned pure moldy or meth lab. |
We wanted a townhome intead of a condo badly but struggled with the decision. Our goal was a 2 bed/2 bath pre-sale and when we were looking at floor plans, we couldn't get over the small size of the main living areas of townhomes. At say $850 psf and $1.15M plus GST and PTT, a 1,350sq ft townhome would feel no different from our existing 650 sq foot apartment when sitting in the living room or cooking in the kitchen. The only difference is bedrooms are upstairs instead of being on the perimeter of your main living area, and you also get a 1 or 2-car garage. Then you look at the associated strata fees, and we said no way. |
In my experience, the biggest upside of a townhouse is that you get your own front door. That makes a big difference when you're dealing with kids and their gear. But the pricing for new build townhouses in Vancouver doesn't make a lot of financial sense - you're basically paying the price for the land without actually owning the land underneath you. When we were in the market 2 years ago, the difference between a townhouse like ours and a house was over 500K so the pricing made sense. Now that the gap is closing, it makes a lot of sense for people to upgrade. |
Yea the difference between a condo and TH isnt that much. Like hondaracer said..a detach with a mortgage helper eventhough it'll be an old house makes more sense. Location is still most important. I dunno why people comparing port moody to Vancouver. I'll take an old east van house any day of the week. |
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I'm guessing they want a new home. You're still gonna have the noise and strata issues living in a TH. If you have a 1 bed condo then the natural step would be a TH for the small family while it you have a 2 bed condo or TH... then a jump to a detach is with in striking distance. |
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