Vancouver's Real Estate Market

[Manic!]

https://globalnews.ca/news/10732766/...g-designs-b-c/

Call it the Vancouver Special 2.0.

In an effort to cut costs and build times on new housing, the B.C. government has released a set of free, standardized designs for small-scale, multi-unit dwellings.

“Set housing designs mean that people will be able to build more beautiful homes in their communities, faster than ever before,” Housing Minister Ravi Kahlon said.

“We see huge potential in this and what’s vital is that every year we continue to expand the opportunity on these catalogues so we see a variety of types of homes in our communities.”

https://www2.gov.bc.ca/assets/gov/fa...talogue_v1.pdf

[EvoFire]

Originally Posted by JDMDreams

I just did this for shits and giggles. $3m house. 20% down = $600000. Property transfer tax alone is $68000. To qualify $2400000 at 4.5% over 30y you need $450000 annual income. Monthly payment is $12160

The thing is, almost no one buys a 3m house at 20% down.

[JDMDreams]

^^ it is do able, all you need is 10 buddy guy cousins making $45000 each $60000 dp each.

Those houses looks like ass, and it doesn't seem like there's that many units, to fit that many more people, your lot must be huge to fit 4 units.

[Hondaracer]

The zoning is 4+ units on a standard lot.

[unit]

i went to hs in fs. it's the nice part of surrey other than some places in south surrey. there have always been lots of nice houses there especially in certain pockets of the neighbourhood that are prob way above 3m today. when houses start at 1.6-1.7 there, 3m is not a huge stretch depending on the exact location. that being said this house is not one of those fancy houses with big lots that i would expect if i were paying 3m.

[VR6GTI]

Originally Posted by EvoFire

The thing is, almost no one buys a 3m house at 20% down.

40-60% down?

[Badhobz]

100% down

[supafamous]

Originally Posted by JDMDreams

I just did this for shits and giggles. $3m house. 20% down = $600000. Property transfer tax alone is $68000. To qualify $2400000 at 4.5% over 30y you need $450000 annual income. Monthly payment is $12160

I believe that's low as you need to pass the stress test - when I punch it into the Coast Capital mortgage calculator it says you'd need over $600k of household income to be approved for a $2.4m mortgage. Even back in the low interest era I think you'd need $500k to get approved.

Originally Posted by VR6GTI

40-60% down?

Not enough households make $600k/yr so they have to put down 40-60% on a $3m house to make it work. I'm not sure even a 2 doctor household could swing a $600k income (especially after expenses) - 2 doctor households are living in $2.4m duplexes in Burnaby instead.

[supafamous]

Re: these $3m detached houses - the average price for a detached house in the lower mainland in July was just over $2.1m so $3m for a newish house with 4000sf of space isn't really unreasonable. You could argue it's good value considering a beat up 2000sf detached house can go for $2m in East Van/Burnaby. The potential rental income almost makes up for the extra $1m in price and you get a way newer house with more space.

[whitev70r]

This deccade's Vancouver Special

B.C. unveils standardized home designs with focus on faster approval, lower building costs

https://vancouversun.com/business/re...signs-released

[RabidRat]

What the heck it looks like a barn!

(no offense to anyone who winds up building / buying one of these)

[whitev70r]

Looks like a duplex with 2 front entries. Well, they are trying to increase density. Prob 2 more basement suites with entrance from the back total of 4 units?

Kinda cannot expect it to look 'good' ... just functional.

[Gumby]

The floor plans must have been designed in collaboration with Ikea

[JDMDreams]

Man I can't imagine all the troubles, repairs? Disputes, noise, parking now between 4 parties?

[EvoFire]

Originally Posted by JDMDreams

Man I can't imagine all the troubles, repairs? Disputes, noise, parking now between 4 parties?

There's a lot of ways to mitigate 90% of the noise for not a lot of money. But the problem is are the builders going to do that.

A simple staggered stud wall and floor with rockwool would mitigate most of the noises.
Extra fancy options include green glue double panel drywall or sonopan, isolation channels, sealing all gaps with caulk would take it the last bit.

[Badhobz]

this is the stupidest shit. there's gonna be savage parking wars all over the city, and these individual crappy ass flats are still gonna be 1.5 mil+ so I don't even know what the hell they are doing here.

[Hondaracer]

Originally Posted by EvoFire

There's a lot of ways to mitigate 90% of the noise for not a lot of money. But the problem is are the builders going to do that.

A simple staggered stud wall and floor with rockwool would mitigate most of the noises.
Extra fancy options include green glue double panel drywall or sonopan, isolation channels, sealing all gaps with caulk would take it the last bit.

Soundproof drywall is double the cost of a standard sheet

When we built our suite we cheaped out and only lined the bedroom ceiling of the suite. It actually makes a HUGE difference but yea.. no one’s gonna price that into a build

[EvoFire]

Originally Posted by Hondaracer

Soundproof drywall is double the cost of a standard sheet

When we built our suite we cheaped out and only lined the bedroom ceiling of the suite. It actually makes a HUGE difference but yea.. no one’s gonna price that into a build

You don't need it for every wall, just the conjoined walls for these builds. But even then it's still a cost that would be saved from buddy guys

[GLOW]

Originally Posted by Hondaracer

Soundproof drywall is double the cost of a standard sheet

When we built our suite we cheaped out and only lined the bedroom ceiling of the suite. It actually makes a HUGE difference but yea.. no one’s gonna price that into a build

natural surveillience. you can hear if your neighbour is getting murdered so you can call the cops for them

[CRS]

Originally Posted by GLOW

natural surveillience. you can hear if your neighbour is getting murdered so you can call the cops for them

If you have elderly asian neighbours, I would not count on them calling the cops.

Reminds me of a story from years ago when I was returning home from work at around 11pm. Got out of my car in the back and a voice goes "hey man, can you help me out?" I went and grabbed my maglite (who even has these anymore?) and was like "yeah man".

Flashed it on him, its another guy in his 20s. He tells me that he/his friends caught a guy breaking into their car and chased him all the way to my block. They have him surrounded but none of them had their phone on them.

I walk 3 doors down and this dude is YELLING and BANGING on the door/window while on the patio/balcony. I call the cops and tell them where we are and what I was told. Dude was making so much noise, it would wake up the whole block. I'm surprised the door didn't breakdown with how hard he was going at it. He was yelling stuff like "these guys want to kill me", "help", "I'm going to die".

20 minutes pass and finally the cops show up. It was only after the cops showed up that the neighbour turned on the lights and opened the door. Dude acted shocked and "had no idea' what was happening.

[blkgsr]

must have had good soundproofing and the expensive drywall....

[quasi]

Originally Posted by Hondaracer

Soundproof drywall is double the cost of a standard sheet

When we built our suite we cheaped out and only lined the bedroom ceiling of the suite. It actually makes a HUGE difference but yea.. no one’s gonna price that into a build

The labour is the same but the material is 4x the cost of regular drywall and if you use the manufacturers caulking and Acoustical Putty pads it gets even dumber. As someone who works for a company that supplies/installs drywall I would never recommend it unless the client don't care about the price, I always try and get it value engineered out of projects and saving them the cost. It's way over priced for the extra STC value it offers, mind you we deal only with steel studs maybe it's better it on wood?

[Hondaracer]

Originally Posted by quasi

The labour is the same but the material is 4x the cost of regular drywall and if you use the manufacturers caulking and Acoustical Putty pads it gets even dumber. As someone who works for a company that supplies/installs drywall I would never recommend it unless the client don't care about the price, I always try and get it value engineered out of projects and saving them the cost. It's way over priced for the extra STC value it offers, mind you we deal only with steel studs maybe it's better it on wood?

Yea like can’t you do res bar and 2 sheets of standard board and even with the labour and installation of that arrangement you’re still much cheaper?

I only opted for it because losing an additional inch or two was a no go given the ceiling heights lol

[quasi]

Originally Posted by Hondaracer

Yea like can’t you do res bar and 2 sheets of standard board and even with the labour and installation of that arrangement you’re still much cheaper?

I only opted for it because losing an additional inch or two was a no go given the ceiling heights lol

It would still be cheaper to use res bar and an extra layer of drywall but you are correct it does change your wall thickness so if you don't have the space it could matter. We do Commercial work so losing an inch or so on a wall usually isn't a big deal.

There are times you have no choice though, the new Hospital we're installing it around some of the walls surrounding the elevator shafts.

[Wormiez]

Originally Posted by GLOW

i wonder what the snow load on that sucker is, the rare days we get over a foot of snow... but then again there's a lot of enclosed balconies built similar that don't cave...

It has held up well the last few winters without caving in.

Haha, yes, that's our house and my car! We sold our home and bought a new one, and finally, the car will have its own garage.