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Vancouver Off-Topic / Current EventsThe off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.
Insurance renewal just came in, it's gone up every single year we've owned the house, wtf. We are at 3714 this year. Last year for 349x.
Are you using a broker? The broker should cross-shop for you and find you the best price. We got quotes from 2700-4000 for my house and there was no difference in coverage. My parents' house got quotes between 1800 and 3500 between 7 different companies.
Are you using a broker? The broker should cross-shop for you and find you the best price. We got quotes from 2700-4000 for my house and there was no difference in coverage. My parents' house got quotes between 1800 and 3500 between 7 different companies.
do you have a contact for your broker? I would be interested in getting multiple quotes at one time.
I'm also considering airbnb as our tenants are moving out in September so I'm curious what the insurance rates are for that.
Are you using a broker? The broker should cross-shop for you and find you the best price. We got quotes from 2700-4000 for my house and there was no difference in coverage. My parents' house got quotes between 1800 and 3500 between 7 different companies.
Quote:
Originally Posted by PeanutButter
do you have a contact for your broker? I would be interested in getting multiple quotes at one time.
I'm also considering airbnb as our tenants are moving out in September so I'm curious what the insurance rates are for that.
I'm being fed algorithms of 16- 21 year olds tiktoks / YT Shorts grinding 1 - 2 jobs in HS/College in the service industry making $27 - 40/hour after tips.
They're putting in 1,200 - 2,400 hours, sleeping less and it seems like they're managing to save 100% of their income living at home. Which is around $30-70K/year. On top of ad-spend revenue.
It's crazy because everyone in my social circle worked at least 750-1,250 hours a year during school. Nowadays nobody works cause papi pays for tuition. So those who are working are getting pretty ahead it seems.
If they find a place, congrats. If they twiddle around and think things will magically manifest to their liking, well...no.
Lots of building activity in the Cornerstone area but not sure what's already spoken for. At least Calgary has the luxury to build out rather than up.
Crossiron feels like Guildford though
It's funny talking with people in Alberta. Almost everyone I spoke too knows someone who moved to Vancouver within the last 5-20 years and it seems almost all of them are stuck in a pit they can't get out of. They can't even move back to AB because there's no money or outlook to facilitate it. Even with early warning signs, they still were caught in the siren's song that's Vancouver's skyline.
When you look at Vancouver through rose coloured glasses, all the red flags just look like flags.
Full discloser I did make an offer on this property a few months back but have moved on to something bigger.
1.5 mill duplex and a house.
In the back is a duplex each is 2 bedroom plus a loft. I don't know what the building codes are but it should be pretty easy to enclose that loft and make it a full bedroom.
The house in the front is 3 bedrooms upstairs. It use to be 2 but the made the massive deck smaller and made a master bedroom. The bottom has a bachelor suite and a large really nice one bedroom with it's own carport. You also have a 2 car garage and plenty of space to part extra cars outside.
The back yard is big and down the road if the city allows you could put up another one or 2 bedroom unit.
The duplex, bachelor and the one bedroom are rented at below market rates. If they where rented at market rates you could live upstairs without a mortgage. Even now a good chunk of your mortgage would be paid by renters. sooner or later someone will move and you will be able to charge market rent. 10 years down the road with all the money you have saved you could buy another house with a basement suit. The rent form the basement suit and your current place would pay the mortgage on your new place.
The neighbourhood the house is in is really good. Walking distance to an elementary school and a ton of shopping. 5 minute drive or a 35 minute walk to a lake and camp ground. The road in front of the house is busy but the house is set far back and the city spend a ton of money on a bike lane and sidewalks.
__________________ Until the lions have their own historians, the history of the hunt will always glorify the hunter.
I've been using an insurance broker the last half dozen years. They switch up providers every year. This year the best they could do for house, detached structure and dt apartment was $6G. Shopped around myself and saved $2G with TD.
When we were looking, we lost out on four bids. Subject free every time.
We finally won our Vancouver special. 16 offers, $127k over asking. We were among the top offers, so we revised our initial offer $25k more, putting us at $127k over asking.
I think the other thing is, you will never be truly happy in this market.
Took us 7 offers to get our place. The house we bought showed poorly and there were some questionable updates which we ended up pulling. All the other places were no subject offers, some going for 300k over asking which was insane.
Saw a house on Thursday. Booked inspection on Friday. Offers due on Monday.
We went in subject free. Deposit cheque in hand. Offered $116k over asking.
Still lost.
There were 10 offers on this place.
It's so deflating.
Congrats to everyone out there who toughed it out and found something you are happy with. Because it's not easy!
Just don't give up. You'll get there. Sometimes it's just pure timing that wins the race.
I'm too retarded to figure out where the money comes from that bloats the market to the levels it does. I mean, I can guess though
I'm just trying to imagine a scenario where a young anesthesiologist couple in massive amounts of school-based debt start working in their field and earning income from the ground up...how long would it take to afford some basic detached home in this market?
Sidenote:
Spoiler!
Got back from my new home. La-Z Boy furniture came in. GF bought some decor and she and I spent 2 hours ramming.....the pieces that put that lamp together. Was a massive hemorrhoid of a task but it's not coming apart ever again.
Then we screwed....9 lighbulbs because the previous owners liked it dim.
Then we sat there on the new loveseat and enjoyed the accomplishments.
Yup even house hunting 3 years ago it was tough. We started in July and basically was driving from Richmond to Coquitlam every weekend for viewings for 4 months straight until we finally landed on an accepted offer.
__________________
Quote:
Originally Posted by skyxx
Sonick is a genius. I won't go into detail what's so great about his post. But it's damn good!
2010 Toyota Rav4 Limited V6 - Wifey's Daily Driver
2009 BMW 128i - Daily Driver
2007 Toyota Rav4 Sport V6 - Sold
1999 Mazda Miata - Sold
2003 Mazda Protege5 - Sold
1987 BMW 325is - Sold
1990 Mazda Miata - Sold
So all of this multiple offer, no conditions, no inspection is here in the greater YVR area? Wow! And commentators are saying that it has 'slowed' down ..??!!
You have to wonder where people are getting their cash when interest rates are 3x what they used to be and people are still going in no subjects and $150k over ask on shit.
You have to wonder where people are getting their cash when interest rates are 3x what they used to be and people are still going in no subjects and $150k over ask on shit.
Insanity.
Ppl are watching the market and trying to get in before the rates come down and the market shoots up again, it's all just speculation.
Lots of ppl have money, some ppl cashed in a year or two ago and are coming back out as well.
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