Vancouver's Real Estate Market

[Razor Ramon HG]

Originally Posted by Hehe

Already booked flights later in the year to check out countries where we see potential (tax treatment, living quality... etc) and see how we like them.

Out of curiosity, what countries are on your list?

[Hehe]

Originally Posted by Razor Ramon HG

Out of curiosity, what countries are on your list?

Monaco, Andorra and Costa Rica

[68style]

I've heard Andorra can be a bit tough on oldies, it's the same height above sea level as Calgary... I know it's going to take me some time to get used to Calgary altitudes, I was constantly out of breath when I was there painting, made me feel out of shape as fugg.

Do you still speak Portugese or Spanish?

[JDMDreams]

I had to look up Andorra. How would language work. And I was just reading this thing about becoming none resident and you have to dispose of your assets and take a hit before you leave. Curiously I was just discussing this over dinner last night regarding a back up to Canada. Seeing cheap houses in Japan, people telling me about Vietnam, Thailand? Malaysia seems interesting but I don't want to deal with too backwards Muslim rules. Vietnam is corrupt/ communist.

[CivicBlues]

This whole time I thought hehe really had convictions wanting to save Canada from "the lefties" but not only has he had "fuck you bitches I'm outta here" money but "fuck you bitches I'm outta here to Monaco" money.

[Hehe]

Portuguese is conversational. Native level in Spanish.

Monaco was more than anything because parents already own a place there. Small but livable. But cost of living is very high.

Andorra is quite cheap and tax treatment is very good. Only thing is their official language is Catalan. Most speak Spanish there, so day to day is not too much of an issue. But school for kiddos is. Private would likely be the only option.

Costa Rica is like dirt cheap and living quality can be made very high. But I’d be far away from F&F. So, no perfect locations. But again, I’m venturing options.

[RabidRat]

So Hehe, which cities are on your shortlist?

Edit: nm you just answered it lol.

[underscore]

Originally Posted by Hehe

Monaco was more than anything because parents already own a place there. Small but livable.

But does it overlook the Grand Prix route?

[Hehe]

Originally Posted by underscore

But does it overlook the Grand Prix route?

Not even close. The one with view to the ocean or Monte Carlo area are 3x the price. More than what we can afford.

[Badhobz]

Yarg… out of those 3 countries I think Monaco is the only one I would consider. The rest seems like you’ll get jacked and killed due to your face (ethnicity)

[Hondaracer]

Monaco it’s obviously because the tax breaks but the real estate is ludicrous

You get a place double the size, with a million times better view, that’s decades newer, a literal stones throw away

[noclue]

Why not the typical no or low capital gains tax countries like
Singapore, UAE or even HK/TW?

[Badhobz]

I wouldn’t do HK or TW right now. It’s either already China or going to be China shortly. Shit is unstable and volatile and no secure place to stash wealth.

Canada is okay but it’s a slow death of a thousand pricks (taxes and other governmental trash policies like luxury tax on cars, etc)

[donk.]

RS net worth poll, has entered the chat again

[JDMDreams]

Don't forget us is heading to no abortion, sounds like chinadia is following suit soon, anti immigrant, making white people great again. Can't raise rents but can charge you more capital gains.

[Manic!]

If hehe movies to Monaco he is going to spend what 25 to 30 mill to live in a 3 bedroom condo.

My buddy use to work in France his boss/buddy lived in Monaco. He watched the F1 race from the balcony of the condo. After selling the company his boss moved to Costa Rica.

[Hehe]

You guys are generalizing Monaco with its expensive districts like Monte Carlo or Larvotto where those apartments over 20m are located. Yes, Monaco is expensive. But a big chunk of its RE transaction is still between 1-2m euro. And even lower when my parents bought 10+ years ago. It would be like saying everywhere in greater YVR is the same price as Point Grey.

I’m open for suggestions really. These are countries where I think establishing residence is not super complicated. Monaco, as an example, you maintain 500k euro in their bank, “lease” my parents place from them, boom, residency granted. Of course, I’m overly simplifying things. But the idea is that these countries need to offer a golden visa or nomad visa program.

Then the most important thing is taxation scheme. I focus on no/low tax for earnings outside of the country while offering decent overall living standards

The climate needs to be moderate. The reason why I don’t want to go to places like TW or SG is because the weather is unbearable.

Back to the topic, so, just touch ups? Not even appliances?

[Hehe]

Originally Posted by JDMDreams

I had to look up Andorra. How would language work. And I was just reading this thing about becoming none resident and you have to dispose of your assets and take a hit before you leave. Curiously I was just discussing this over dinner last night regarding a back up to Canada. Seeing cheap houses in Japan, people telling me about Vietnam, Thailand? Malaysia seems interesting but I don't want to deal with too backwards Muslim rules. Vietnam is corrupt/ communist.

I’m fluent in Spanish. And most in Andorra speak at least conversational Spanish. So, not a huge issue. I basically ignored all Asian options due to weather. Any place worth living has typical Asian tropical climate.

Originally Posted by Badhobz

Yarg… out of those 3 countries I think Monaco is the only one I would consider. The rest seems like you’ll get jacked and killed due to your face (ethnicity)

I grew up in South America. So, not a huge issue. And from research, as long as you stick in the good neighborhoods, life standard can be on par if not better than in Canada.

Originally Posted by Hondaracer

Monaco it’s obviously because the tax breaks but the real estate is ludicrous

You get a place double the size, with a million times better view, that’s decades newer, a literal stones throw away

Yes, one of the idea is also, since getting Monaco residence grants you access in the Schengen area, is to get tax residency there, while living in other places. Even by just leaving Monaco at about 30 min drive, you can get houses for fraction of the cost.

Originally Posted by Badhobz

I wouldn’t do HK or TW right now. It’s either already China or going to be China shortly. Shit is unstable and volatile and no secure place to stash wealth.

Canada is okay but it’s a slow death of a thousand pricks (taxes and other governmental trash policies like luxury tax on cars, etc)

My main issue is not really with taxes, but how stupidly high it is. With my main source of income taxes as passive income, I get raped. And I thought that if I can get same living standard while paying less taxes, why not?

[RabidRat]

Would you feel a little isolated though, sticking to those pockets of high standard of living?

Re Andorra: maybe culture shock for your kids as well, going from being reasonably average members of society just like anyone else, to being "those rich people who arent one of us"?

Re Monacco: doesn't sound like there's any downside to this one! Seems like a convenient launchpad to the rest of Europe.

Either way, all new adventures for the family

[Gumby]

Nice, someone who has issues with Canada actually doing something about it and leaving. Gotta respect that!

[Hondaracer]

Most people do, the crippling debt they’ve been forced into prevents them from doing anything about it

[PeanutButter]

Originally Posted by Hehe

Back to the topic, so, just touch ups? Not even appliances?

Paint and caulking for sure. How old are the appliances/ what exactly do you have right now?

If the house is in good shape, I don't see how newer appliances are going to swing a buyer or I don't see how it's going to add more value. Unless the appliances you have are like 20 years old.

[Hondaracer]

It’s probably a coin flip on appliances imo

So say you have a typical appliance suite, whatever, I’ll use my own for example, Kitchenaid gas range, matching dishwasher and fridge. They look fairly industrial, they don’t have logos everywhere really, look fine. To your average person they’d be perfectly
Fine wouldn’t think twice

But then, depending on the price point of your home and target market, if your buyers are all going to be off-shore or Chinese buyers, if you were to to out and buy like base model sub zero or another brand where the perception is it’s fancier regardless of it being garbage, maybe that would sway certain demographics.

Is it worth the investment and headache of removing old appliances and spending 20k to upgrade? I’d say probably not depending on the rest of the home and the kitchen itself

[FOREVER]

Update!

- tenants cannot afford our asking price
- close friend (tenant's sibling) was willing to purchase the place and rent it out to my tenant but decided that it was a bad idea LOL
- as a result, it went to the market this week!
- the stupid ass washing machine broke this tuesday too @_@

Best case scenario, it sells next week. But with the new RTB/tenant 4 month eviction rule, it'll take us to December. Then we would need to sell our Duplex. Probably won't be able to upgrade until next year

[JDMDreams]

That 4 month thing is retarded so all deals takes 4+ months to close?