Quote:
Originally Posted by Traum
(Post 9107613)
If Grandma's house is a close comparison to the listing, then there should already be gobs and gobs of space to host friends and grandchildren. If it gets anything bigger, it's gonna result in more housework for them.
... |
There is a good amount of space at their Grandma's house, but they really don't like that area. Their current house by the PNE which is 15mins to downtown, it's close to Brentwood, and it's right off the highway. Costco is closeby and all of the big box stores. They also like going to North Van a lot.
My parents live in the Killarney area and I have to agree, unless you're going to Richmond often, it's not as convenient as being around the PNE area. We live around commercial drive and even though it's not that far from Killarney, we definitely like it better
Quote:
Originally Posted by supafamous
(Post 9107621)
Would the current house be big enough to host if they kicked the tenants out? If so, I'd just do that and do a nice little renovation to make it more family friendly.
If it isn't big enough I'd knock it down and build a new house on it ASAP... |
They actually opened up their upstairs of their vancouver special so it's open concept now and we've done parties there before, it just feels tight with 10+ people there. They still have a rec room area downstairs that the kids play in, and if they opened up the tenants side I don't see it changing the dynamic that much as most of the adults like to stay upstairs where the action is, I'm sure the kids would like it more because they would have more space downstairs.
They said they would prefer a larger main floor living/hosting area. If their grandma opened up some walls on her main floor they said that space would be perfect, but again they don't like the Killarney area.
I didn't even think about building a new house on their lot. I should see if they would be into that.
Quote:
Originally Posted by sdubfid
(Post 9107623)
What about selling the house and investing for 10k per month passive income. Be able to enjoy life while not old fogies and still leave the principal for the kids/grandkids. |
I don't think finances are really an issue for them at the moment. Since they don't have a mortgage they have quite a bit of discretionary income to do things and my uncle started investing while he was younger so I think they're actually quite rich. They both have new cars and they go on vacations regularly and my aunt has a number of nice bags as that's what she's into. I would say they have the perfect life right now. Even before we found out they were getting the Killarney house, everyone in our family recognized they had their shit together. Their sons are amazing too. All of us cousins love them, they are super helpful and fun to be around.
Quote:
Originally Posted by JDMDreams
(Post 9107648)
What's wrong with Killarney area? There's some pretty big lots houses there, don't you want the space and lot to entertain. I like how quiet it is there, they wfh anyways, and it doesn't sound like they can't afford a car. Everything is within 15 min drive. Unless you combine and get something around Burnaby lake, deer lake. Can easily head over to Kingsway for all the Asian you need, Metro, Crystal Mall |
My parents live in that area too. We have to kids and there's not much to do with the kids in that area. I think if you like big lots and quiet it's the perfect getaway. My parents love it, but I wouldn't want to live there either.
Quote:
Originally Posted by Badhobz
(Post 9107651)
They should sell everything and go enjoy their lives. Why bother working at that age ? Just go travel and enjoy yourselves.
2m for Killarney and 1.8 for PNE means almost 4 million bucks worth of RE.
Sell all that shit and go put half in index funds and the rest spend it on luxury travel.
Save some for the little shit ass kids if you want but honestly IÂ’d just pull the plug and ditch.
Frankly once her parents are gone and my parents are gone IÂ’m pretty sure this is what we are gonna do. I have no interest in being here anymore. |
Honestly, I feel like they're living their lives as good as one can. When you're around them you can just feel a really great energy from them. They don't complain, they're always helpful, their kids are like them. A lot of people suspect there's something going on with them because they're too perfect lol.. I mean maybe they're all psycho's, but we have always had the best experiences with them.
I think they have the best of all generations. Their parents were super asian (immigrant mentality), which instilled those core immigrant values, but they grew up in Vancouver and have more of a modern take on life. So they are pretty hard working, but they still aren't afraid to spend money like most immigrants are. Which is why I think they actually like working (maybe they are psychos lol).
My uncle talks about legacy every so often, there is no way he would sell everything and then just splurge. His values would never allow that. Especially now, we were talking about if you didn't have a house in Vancouver all of your future generations would be fighting an uphill battle if not the battle is already over. Families with real estate in this city are a step above everyone else (not morally, just financially), and one of the most important things is to keep that real estate to further the generations. If your parents don't own a house in Vancouver, you probably never will.
Quote:
Originally Posted by Hondaracer
(Post 9107654)
Hastings sunrise > Killarney all day imo
I think another question regarding this scenario is are these people even the type to build/move/rent etc. or are they the typical people who will hum and haw about things over a decade and never make a move?
ItÂ’s nice to imagine building a new home or doing some huge renovation but itÂ’s somthing most people arenÂ’t willing to stomach. Even if they have a contractor doing everything |
I'm ashamed to say I never thought to ask them about building, I feel like that might be the next progression for them given their situation.