Vancouver's Real Estate Market

[bcedhk]

Originally Posted by 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



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

Bear in mind, that illustration is a guidance, not a regulation. The Bill does not specify to that much detail. Most likely, city's will still request any driveway or parking be done on the lowest road heihary (lane -> local -> collector -> arterial)

[supafamous]

Originally Posted by PeanutButter

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

Depends on where exactly you are located - if you're not near transit then it's 1 spot per unit (this is the province saying you can't require more than 1 spot per unit, cities can require less. For example, Vancouver only requires 1 spot for 3 units but Coquitlam requires 2 spots per unit

If you live somewhat near transit it's 1 spot for every 2 units and if you are close to rapid transit (800m) then there's no requirement for parking.

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.

I'm thinking the same way but for my kid and her cousins - they're gonna need places to live and this type of setup will be great for a generational type of home. Coming up with the money is the hard part though - a 6000sf 4plex will run $2m+.

Originally Posted by twitchyzero

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

Just an illustration. The policy doc is surprisingly lenient with cities about how they implement the rules - it's mostly full of guidance and very few rules beyond minimum heights and parking. I'm surprised, I thought the province would be pretty heavy handed with it (for good reason).

[supafamous]

https://morehousing.substack.com/p/b...m_medium=email

Good summary of the 200pg doc the gov't put out on their new housing policy

The full doc is here though: https://news.gov.bc.ca/files/bc_SSMU...rios_Final.pdf

[Traum]

Originally Posted by supafamous

Depends on where exactly you are located - if you're not near transit then it's 1 spot per unit (this is the province saying you can't require more than 1 spot per unit, cities can require less. For example, Vancouver only requires 1 spot for 3 units but Coquitlam requires 2 spots per unit

If you live somewhat near transit it's 1 spot for every 2 units and if you are close to rapid transit (800m) then there's no requirement for parking.

From the way the off-street parking requirements reads, it seems to me that:

- across the entire CoV, it is 1 parking space for 2 units
- in many (most?) parts of Burnaby, it is also 1 parking space for 2 units

As expected, it is going to be a clusterfuck for street parking...

[Gerbs]

Originally Posted by 68style

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

And live below ya

You're going to the basement, kids going to the top.

[is350]

Originally Posted by underscore

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

Still gets super spooky with the quietness I bet

[supafamous]

Originally Posted by Traum

From the way the off-street parking requirements reads, it seems to me that:

- across the entire CoV, it is 1 parking space for 2 units
- in many (most?) parts of Burnaby, it is also 1 parking space for 2 units

As expected, it is going to be a clusterfuck for street parking...

While I think things will get worse before they get better I don't think it'll be as bad as some fear for a host of reasons:

1) Densification invariably leads to lower car ownership rates and they're specifically targeting areas with good/great transit. As these neighbourhoods densify amenities will show up leading to reduced car dependency.
2) As these neighbourhoods densify transit will get better leading to more reductions in car dependency.
3) There's no restriction in building more parking - the market will eventually respond and builders will find the right amount of parking to build. They'll likely come in different forms though - parking pads and carports will be favoured over garages.
4) The philosophy of "street parking should be free" will end at some point and actually having to pay for parking will lead to less car dependency or builders will build more parking on their developments.

Obviously in Vancouver street parking can be hard to find in some neighbourhoods but current Vancouver zoning is already allowing less parking than the new regulations (1 spot for 3 units) so this doesn't make it worse. In Burnaby there's still abundant street parking in most neighbourhoods and lot sizes are quite big so still lots of densification that can happen before parking is a problem.

[PeanutButter]

Originally Posted by JDMDreams

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

If you don't have the capital, it would be easy to get the money. Think about it, $500k for a 1,500 square foot apartment is cheap AF. Each kid can help out with $500k and it'll be no problem.

Originally Posted by 68style

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

I know this is a joke, but I think it's pretty sad there are children out there who don't like their parents. If my kids don't like me, that's on me. I feel like if you're a millennial parent then the communication is so much better than our parent's generation, especially if you're from an Asian household.

I know I'm biased, but I feel like Asian millennials who were born here make the best parents, we still have those Asian values like respect and family, and we also have those Western values like love and communication.

Originally Posted by 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.

I can only imagine what housing will be like in 30 years when my kids are married, I doubt they will be able to afford anything close to a 1,500 sq/ft apartment in Vancouver. I think my kids partners will wonder why their parents don't have this option for them. And will be super grateful for even having the opportunity to live in our generational home =)



If it wasn't clear, I'm Asian (Chinese). It's perfectly normal in our culture to live with our parents and take care of our parents, and I would hope to pass on those values to my children. If I build it, they (my kids) will come, so to speak. LOL

[donk.]

Originally Posted by PeanutButter

I know this is a joke, but I think it's pretty sad there are children out there who don't like their parents. If my kids don't like me, that's on me. I feel like if you're a millennial parent then the communication is so much better than our parent's generation, especially if you're from an Asian household.

I dont think he was joking, theres a reason why that post got many upvotes. On both topics of living with your parents, and liking your parents.

If your kid likes you, why is he only visiting you 3-10 times a year? (Myself included)

Most people i know, do not want to live with their parents.
And those that do, is out of parent guilt oh you dont want to live with us? You dont like us anymore? We are a family,, we must stick together, this is not how our culture works, etc. Without thinking what the kid wants, especially in asian / indian households

[supafamous]

Originally Posted by PeanutButter

I know this is a joke, but I think it's pretty sad there are children out there who don't like their parents. If my kids don't like me, that's on me. I feel like if you're a millennial parent then the communication is so much better than our parent's generation, especially if you're from an Asian household.

I like my parents, it's just that I can't STAND my parents.

I'm planning to take in both sets of parents though preferably not at the same time and definitely not in my part of the house - I have 2 suites for that cause I would murder all 4 of them within a few months if I had to live in the same house with them. I would do it via carbon monoxide poisoning or something else that's gentle but I would STILL murder them if I had to live with them.

I'll fix mom and dad's computer b/c they can't remember their passwords but I will not listen to dad talk politics and I don't wanna hear my mom's questions about my life or hear her make insensitive comments toward my wife.

[westopher]

I am a white and would totally share a property with my mom, but wouldn't consider sharing a door with her.
It really comes down to circumstances though. My mom has always managed to be pretty cognizant of boundaries, and knows not to butt in. Thats been the family dynamic between me and her since even high school. There's no way my wife and her mom could do the same. They love each other, they get along, but there is far less understanding of personal boundaries between them. Theres no point in getting caught in the culture trap and thinking, it's this way or that way because someone that shares your ethnicity or language does it.

[snowball]

Originally Posted by donk.

I dont think he was joking, theres a reason why that post got many upvotes. On both topics of living with your parents, and liking your parents.

If your kid likes you, why is he only visiting you 3-10 times a year? (Myself included)

Most people i know, do not want to live with their parents.
And those that do, is out of parent guilt oh you dont want to live with us? You dont like us anymore? We are a family,, we must stick together, this is not how our culture works, etc. Without thinking what the kid wants, especially in asian / indian households

There's also the option of selling the other units to fund the property if the kids don't want them.

[EvoFire]

Originally Posted by PeanutButter

If you don't have the capital, it would be easy to get the money. Think about it, $500k for a 1,500 square foot apartment is cheap AF. Each kid can help out with $500k and it'll be no problem.



I know this is a joke, but I think it's pretty sad there are children out there who don't like their parents. If my kids don't like me, that's on me. I feel like if you're a millennial parent then the communication is so much better than our parent's generation, especially if you're from an Asian household.

I know I'm biased, but I feel like Asian millennials who were born here make the best parents, we still have those Asian values like respect and family, and we also have those Western values like love and communication.



I can only imagine what housing will be like in 30 years when my kids are married, I doubt they will be able to afford anything close to a 1,500 sq/ft apartment in Vancouver. I think my kids partners will wonder why their parents don't have this option for them. And will be super grateful for even having the opportunity to live in our generational home =)



If it wasn't clear, I'm Asian (Chinese). It's perfectly normal in our culture to live with our parents and take care of our parents, and I would hope to pass on those values to my children. If I build it, they (my kids) will come, so to speak. LOL

It's not a joke, neither of us can stand living with our parents, we are Chinese.

We did it for a stint with my parents while our house was being renovated. Just on parenting alone it was so hard as my mom doesn't take no for an answer and my dad doesn't agree with us and likes picking on little things. They were living in a very large 1300sqft condo and my wife and I would go downstairs to the parking lot to walk and chat cause we can't stand it. We lived with them for 3.5 months.

I thought before we were married yeah we could live with her parents until we went to Shanghai together for a trip. For that one week, holy shit I cannot with her mom. Then my wife had a HUGE fight with her mom about respect shortly after. TL;DR her mom thinks something is a good idea/something is good for my wife, forces it onto her without understanding if it fits her lifestyle/needs. Gets upset when wife doesn't agree and the buildup led to a blowup.

Yeah we cannot live with our parents, not currently anyways. We won't murder them like Supa, but instead we might commit suicide/end up in a divorce. My parents are living in our basement right now because it makes more sense than them paying strata and property taxes. We setup clear boundaries where they are not to enter our space without asking and the center stairs between the mainfloor and basement are not an open corridor. Even then it's a little too close for me.

I commend those of you who can live with your parents, but our relationships with our parents aren't there. After living on our own for 10 years moving back into the same space is a huge no.

And yes I do think you are taking a huge gamble to think your kids want to live with you. The separate space helps but there's no guarantee where the relationship goes as they get older. There's always the bit where there's no possible chance of them affording a place on their own and being stuck there though, but that can cause resentment depending on the personalities at play.

[PeanutButter]

Oh, i'm not saying YOU guys should live with your parents. If you have traditional Asian parents there is NO WAY you can live with them. They're fucking crazy. I 100% know that.

I'm saying, I would hope that MY children could live with me in a four-plex apartment.
Because our generation knows how to communicate better and love better. Meaning my kids will grow up in a fair and reasonable environment, unlike the environment we grew up in.

That was my point.

[GS8]

Originally Posted by 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.

You'll absolutely hate the narrow condos (which is pretty much every build now). You can visit my narrow condo but we might cross swords

[Badhobz]

Cross swords ?!? No homo !

But condos / townhouses look normal when it’s narrow. That’s how they are suppose to look. If you’re spending mansion money but getting a condo looking lot, you’re an idiot.

[whitev70r]

Gawd, I would not want to have my kids living that close to me! Forget if they want to or not. The way you PB want your kids (and their partners) to live altogether in one house, albeit separated units, thinking that you're doing them a great favor, already subtlely hint at some unhealthy dependence on your end as a parent

[supafamous]

Originally Posted by whitev70r

Gawd, I would not want to have my kids living that close to me! Forget if they want to or not. The way you PB want your kids (and their partners) to live altogether in one house, albeit separated units, thinking that you're doing them a great favor, already subtlely hint at some unhealthy dependence on your end as a parent

I think this kind of thing is going to be a fact of life though. My aunt let her son build a 3 bedroom laneway on their lot as it was a way for him to afford a home while, like PB, I'm expecting/open to having my only child live on my property down the road too in the same way I'm expecting take in my parents/in-laws.

Lots of cultures value this way of living - witness all the jokes about the Italian starting QB for the Giants and how he still lives at home. Italians, Indians, most Asians

[Badhobz]

gross. I try to get as far far away from my idiot parents and their horrible life choices that led us to be the poorest of all the shanghainese relatives.

Im still obligated to go see them every week but no friggin way id move them closer to me. Even they realized that ill never take them in and that no way i would deal with their bullshit. 5 bedrooms? yeah all occupied you old geezers.

[westopher]

Originally Posted by whitev70r

Gawd, I would not want to have my kids living that close to me! Forget if they want to or not. The way you PB want your kids (and their partners) to live altogether in one house, albeit separated units, thinking that you're doing them a great favor, already subtlely hint at some unhealthy dependence on your end as a parent

I don't think it's that he needs it, he just understands that may be the only option for any sort of property ownership for people of their generation. Your parents either buy it for you, provide it for you, or you can fuck off to Saskatchewan. Other option is you just die and leave them the property lol. Housing market here is FUCKED and it's reasonable to acknowledge it might only get worse until civilization collapses.

[whitev70r]

Seriously, I would build the 4-plex, rent out the three, and use that income to help/support my kids if need be. I love my kids but wouldn't want them that close. All we've been talking about is cray cray Asian parents ... this next gen of millenials, they are dependent AF. Get them to the next burb at least.

So PB, what would be the financial agreement? Less than market rent?

[Badhobz]

I foresee some parking issues with having a 4plex. like serious serious parking issues. I know their intention is for you to use transit. but people are gonna be like fuck you and drive.

[twitchyzero]

i think the sentiment here is because you have the choice/luxury

ie. tons of people now still live with their ex because they practically have no options left for housing to separate

[6793026]

love my fmaily, i have no problem living with them and inlaws...
we made a commitment to take care of them if they fell ill.

Now, yes, must be separate door etc. no open door policy and we will set boundaries.
I will not live with my children (if i am blessed to have them); if i do, i will make it clear on rent as well as paying their dues...

we'll see what happens 10-20 yrs from now.

hard enough to get my bro in law to not provide free phone and 30 gb data per month...
they so take it for granted......

remember the days of "can i get the wifi password"...

[quasi]

I'm not living with my parents ever, it would destroy my marriage. My wife gets along fine with them as long as they aren't living with us but they would drive her and me nuts. It's kind of easy because they live so far away but even when they lived 20 minutes away I still only seen them maybe once every other month so not like were hanging out all the time. I probably talk to them more now that they live far away, I try to call them both a few times a week but it's pretty one sided the last time my dad called me was my birthday and before that probably spring time?

I'll likely be taking in my niece next year who's 18 and been living with them ever since my sister passed away, that's as far as my contribution goes.

I can't see my parents wanting to live with us either, I'm sure I get on their nerves as well. For those that do it and it works, more power to you but that's not the way for me.