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Old 07-11-2018, 09:52 AM   #12276
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You probably mentioned before but how old is the building?
2017 so one year. I went to a few open house and I could feel how a good layout actually hard to find. Also some building have really weird design to them..... build material is also a major in the finishings.
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Old 07-11-2018, 10:52 AM   #12277
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I just sold my place out at UBC and will have a chunk of cash sitting there - any tips on good rental spots to invest in?
buy a s2k

actually buy a r8 manual
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Old 07-11-2018, 11:18 AM   #12278
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Waiting for the buyer condition to clear sold the unit for 615k for a 505sq ft unit. Works out to be $1217.8per sq ft.
How does that compare to the recent sales in the same building?
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Old 07-11-2018, 12:26 PM   #12279
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might be a problem when you resell and the buyers inspector is half competent
in other words, nothing to worry about

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buy a s2k

actually buy a r8 manual
if you get an r8, also invest in some boxing lessons in case some salty guy kicks your car
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Old 07-11-2018, 01:27 PM   #12280
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How does that compare to the recent sales in the same building?
Is around the same price. There are only two 1 bedroom apartments sold in my building this year around March and April higher floors. I guess is hard to compare when the market was still better at that time.

Just heard interest rate is going up again@@ not sure if this is true.
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Old 07-11-2018, 01:29 PM   #12281
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might not be up to code with the box as sprinkler can't spray anything below the box

might be a problem when you resell and the buyers inspector is half competent
Sorry maybe I didn't say it the right way, sprinkler would not move... just the area below where it's mounted would disappear... if anything the sprinkler can sprinkle way more than it did before.. just need to keep about a 1 foot portion of the top of the fireplace to hide the pipe to the sprinkler.... if the sprinkler wasn't there I'd take out floor to ceiling.
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Old 07-11-2018, 01:45 PM   #12282
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Just heard interest rate is going up again@@ not sure if this is true.
Yes, BoC upped the key rate to 1.50%. Pretty likely that banks will follow suit and adjust their own rates accordingly as well.
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Old 07-11-2018, 04:31 PM   #12283
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Already done - BMO was raised by noon. Fixed rates had largely priced this in for weeks though.

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Old 07-11-2018, 07:10 PM   #12284
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Is around the same price. There are only two 1 bedroom apartments sold in my building this year around March and April higher floors. I guess is hard to compare when the market was still better at that time.

Just heard interest rate is going up again@@ not sure if this is true.
Where is your apartment located?
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Old 07-11-2018, 07:11 PM   #12285
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HELOC's are at 4.2% now , still historically on the low end.
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Old 07-11-2018, 07:13 PM   #12286
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The wife and I are planning to put our townhouse up for sale in the new year. Some of my realtor buddies have been saying the market is starting to slow down and said something about the Government changing the interest rates to be a bit worse. Said it could effect the sale of people trying to sell their house. Said it could be a difference of 20/30k on selling price. Don't really have the option right now to sell and move since wife is preg and she is due in the new year. Just hoping in the new year market is somewhat still ok and that we can sell our place and gain a decent chunk of chain and move to Kelowna and buy a house.
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Old 07-11-2018, 07:47 PM   #12287
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Old 07-11-2018, 08:29 PM   #12288
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I also got a quote for $2k to tear it all out and redo the drywall, make it look pretty and build a box around the sprinkler pipe with pot lights and relocate all the plugs / outlets.... is that reasonable?
That's a good price, we wouldn't be able to do it that cheap.
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Old 07-11-2018, 09:23 PM   #12289
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Where is your apartment located?
On Nelson Across from Bonsor community center and Metrotown.
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Old 07-11-2018, 10:23 PM   #12290
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That's a good price, we wouldn't be able to do it that cheap.
Now the question is whether it's a 'you get what you pay for' price or if it's a legit good deal
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Old 07-12-2018, 12:17 AM   #12291
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On Nelson Across from Bonsor community center and Metrotown.
The Met? I am looking at an open house 2 bedroom there this weekend
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Old 07-12-2018, 07:01 AM   #12292
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The Met? I am looking at an open house 2 bedroom there this weekend
Met 2 actually. If you looking if you are looking at an open house don't bother if the unit is facing west. It gets super hot in the summer since there are no trees blocking out the sun at all and The Met have no A/C and the windows are big enough to allow any wind to get in. Try to get a unit that faces south or south west if possible. South is better though.
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Old 07-12-2018, 09:09 AM   #12293
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ive been in Met and Met 2 a few times, pretty nice finishings
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Old 07-12-2018, 09:16 AM   #12294
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Now the question is whether it's a 'you get what you pay for' price or if it's a legit good deal
Guy renovated my sister's townhouse, I know his work firsthand... not concerned about it
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Old 07-12-2018, 10:09 AM   #12295
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Met 2 actually. If you looking if you are looking at an open house don't bother if the unit is facing west. It gets super hot in the summer since there are no trees blocking out the sun at all and The Met have no A/C and the windows are big enough to allow any wind to get in. Try to get a unit that faces south or south west if possible. South is better though.
Dunno about Met 2, but I have no good things to say about the Met's garbage room -- seems to me that the residents there don't give a flipping shxt about what goes on in there.

The building also have an overzealous conceige that seemingly tickets every car in the vistor parking spaces if they don't immediately have a visitor parking pass displayed, and put up inconvenient barriers at the side entrance to make life difficult for cars getting out. Now, I don't entirely blame them because the residents there abuses the shxt out of both places when enforcement wasn't that stringent. Just goes to show the quality of many residents there.
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Old 07-12-2018, 11:22 AM   #12296
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Dunno about Met 2, but I have no good things to say about the Met's garbage room -- seems to me that the residents there don't give a flipping shxt about what goes on in there.

The building also have an overzealous conceige that seemingly tickets every car in the vistor parking spaces if they don't immediately have a visitor parking pass displayed, and put up inconvenient barriers at the side entrance to make life difficult for cars getting out. Now, I don't entirely blame them because the residents there abuses the shxt out of both places when enforcement wasn't that stringent. Just goes to show the quality of many residents there.
In terms of the garbage room is pretty much the same. I would say over 70% of the resident just throw their food in the garbage, don't flatten cardboard box and leave their furniture there. Is a bit better now at least people are not leaving their furniture and flatten their cardboard now (basically the large openings for the cardboard dumpster is lock so there is only a tiny hole people have to flatten their cardboard). But overall there is improvement.

In terms of parking is clean up a lot already. The visitor parking used to be full 24/7 coz a lot of people have 2 cars and doesn't want to park outside. I think after several notice and a few cars getting warnings/tow now visitor parking is mostly empty. I don't believe they will tow your car right away. Usually they wait 30mins or so and put a warning letter on car window. Save your car info and if you still park at the visitor parking without a pass or always park there I think then they tow. The concierge seems ok I mean a few times I just told them I have a few friends coming and I don't have enough parking pass (each unit only gets one) and need to park at the visitor parking. They usually just take the car info and let me do it. As long as you don't go ham I think they are ok. This provided they are friendly with you. I usually chat with them a bit from time to time so most of them know me by name.

The only think I don't like is how people behave in common areas. I seen people come in with sauce dripping from their bags not giving a shit and just keep walking. I stop a few people and remind them about it. Some will go back and clean after themsleves some just ingore you. For things like that they should get fine. Then there are times when people garbage bags are dripping water out again they don't have a shit. I am sure if there are fines associate with it people will clean up their act.
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Old 07-12-2018, 03:29 PM   #12297
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About to list my apartment in the next week or two:

I live in the low-rise in Wall Centre and no units of my layout have sold, the most comparable one's sold in Feb 2018 for $1,190 psf and another at $1,030 in Jan 2018....

Tower 1, 2, and 3 (most recent) have sold at around $1,025-$1,050 psf for smaller (475-525 sq.ft.) while mid 500 sq.ft. have sold for $960 psf range...

Being a larger sq.ft. size (600 sq.ft.) with better layout and better building, should I price it near $1,050 or lower at $1,000...

I'm having a hard time pricing mine and was wondering if you guys had some input.

If you look at it as a purchaser:

600 sq.ft. at $600,000-$630,000 vs 467 sq.ft. at $498,000

Sigh.....sucks as I am trying to stretch as much as I can so that I can have a bigger budget for my next place.
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Old 07-12-2018, 06:17 PM   #12298
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Nobody can answer that question except for yourself. We all have different risk tolerances, so some might price higher, while some might price it lower. Really depends on how comfortable you are with the risk of each option
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Old 07-12-2018, 08:00 PM   #12299
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About to list my apartment in the next week or two:

I live in the low-rise in Wall Centre and no units of my layout have sold, the most comparable one's sold in Feb 2018 for $1,190 psf and another at $1,030 in Jan 2018....

Tower 1, 2, and 3 (most recent) have sold at around $1,025-$1,050 psf for smaller (475-525 sq.ft.) while mid 500 sq.ft. have sold for $960 psf range...

Being a larger sq.ft. size (600 sq.ft.) with better layout and better building, should I price it near $1,050 or lower at $1,000...

I'm having a hard time pricing mine and was wondering if you guys had some input.

If you look at it as a purchaser:

600 sq.ft. at $600,000-$630,000 vs 467 sq.ft. at $498,000

Sigh.....sucks as I am trying to stretch as much as I can so that I can have a bigger budget for my next place.
Depends on you and your agent. Price higher and it scares of buyers. Price too low and you might not get your unit worth. Is also luck as well.
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Old 07-12-2018, 10:06 PM   #12300
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I live in the North Tower. We paid $985/ft for a 1 bedroom just under 600 sq ft. Corner unit, nice view on 27th floor. This was last August, when you could get fixed 5 yr at 2.6-2.7%

As a recent buyer I’d advise you to start on the lower end to entice and at least start getting offers. Interest rates have gone up multiple times since then and I doubt anyone buying a unit here at this stage is doing it as an investment...that ship has sailed. More than likely the interest will be from a first time buyer looking to get into the market. In that sense I’d start on the lower end of your spectrum and get the offers in. You can always counter, but if no one is interested then what’s the point. But like others have said only you know your financial standing and how far you can stretch.
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