This is what happens when you buy into pre sales with the intention of selling before closing. There is always a clause in your contract with the developers that they can deny any reassigments (unless is to a relatives or something like that) they wish. And they also get a cut from your reassigments.

So I’ve been trying to do a bit of research about the whole tswassen mills area being developed for homes. I did get this email back from one of the developers

So there’s the final answer. The only pro’s I’ve found so far is that my wife and I can never afford an actual detached home normally. This is a certain option. Also as the owner of the home, you are allowed to rent out as you please. So at some point the house could be rented out for most of the mortgage cost. It’s time the wife and I start thinking of our 20 year plan.

I’m trying to learn, I’ve been reading a lot of articles and just learning the differences between freehold and leasehold. I found an interesting article from Kelowna

https://amp.kelownanow.com/news/news..._West_Kelowna/

So this is a pretty damn cool idea. I’m no mathematician, but say 300 homes investing 5k each on a low risk portfolio over 99 years? Sounds fairly sound to me. So theoretically you could sell the home on year 98, and it should sell for around $3m since whoever owns the land can get that capital.

Cool idea. Will be worth inquiring about in Tsawwassen

I'm finally going to try and sell, hits MLS tomorrow. We're looking for something with a yard. Guess we'll see if I'm able to sell in a reasonable time.

Good luck!

A missed opportunity in the neighborhood we wanted to move into, sparked us to sell last fall. Prices were dropping around 10k/month at the time. We priced aggressively, staged well and managed to cash out. Been renting a basement suite for the last 7 months, waiting for the market to soften a bit more and finally closed on a place a couple of weeks ago. Should suit our needs for the next 7-10 years or until we save up enough for an acreage, where I can have some room to stretch.

....the shit we do for our kids

Congrats! Whereabouts did you buy?

And yes... I completely agree about tthe kids part lol

Back in the Fall of 2015, my wife and I had taken a chance on selling our Surrey detached home first before entering into a deal to purchase our next home. We had wanted to move to Burnaby/Vancouver and felt that we could easily sell our Surrey home so we took a bit of a risk by selling, renting then looking before buying.

LOL... we found a 4-bedroom rental that suited our needs but also knew that the landlord was in the process of demolishing. It was literally a game of who will provide who notice first.

It was a tenuous four months but it worked out great. When we found the Burnaby townhouse we wanted, we were ready to jump on the deal with a quick close and already had our down payment and financing in order.

Congrats on your purchase and I'm happy to hear that your short-term tenancy worked out for you.

Thanks guys.

Citadel Heights, in PoCo. My gf and I were born and raised in East Van. We had a brief discussion on if we'd ever move back, if the opportunity presented itself. I think we're at a point where we appreciate the space, in the burbs, more than the convenience in the city. Plus all our daughter's activities are in the area and it's a 2 minute walk to her school.

Hi Fliptuner congratulations on your new place! I am in Citadel Heights about 1 block from Castle Park elementary school. Citadel Heights is a great area for a young family! Where abouts are you located?

By the way we still love going to Vancouver on the weekends and with all the new highway 1 improvements we usually can drive to downtown in less than 30 minutes. As far as real estate goes I think Citadel Heights is a hidden gem that is undervalued compared to most other places in the lower mainland.

Haha. Same. A block up from the school. I've been down the hill for the last 15 years or so.

When you mention PoCo to people who live West, they generally have no real idea where it is lol. It's literally, the furthest East you can go, without crossing a bridge but easier to get to than Coquitlam Centre. 1 bus ride to Braid or Coquitlam SkyTrain and right by the WCE. Also, several routes to commute West, by car. 15-20 mins to get to Langley via Golden Ears or Port Mann.

You're right, that area is in a perfect location. You're close to the highway system, but far enough away from the noise. You're surrounded by parks and only a few minutes away from amenities. The only real negative is that you're view is basically Surrey :lol

Congrats on the new place!

Well if you split this with me, we can have a view of your old house:

Down from $5M, 2 years ago. Lease the 7AC for ALR tax break. Rent out the great hall for weddings (westopher can cater, we have photogs on standby), golf course across the street, has a fountain, island and a bridge. We could start an RS religion and get more tax breaks. The possibilities are endless!!!!

It takes a village, people!!! Lol

You got that right. I take the last exit before the Pitt meadows bridge. You probably save 10 minutes even from where I am. We were told to avoid Citadel from locals when we moved this way. I never did know why. Seems like a great spot. Congrats!

Damn, nice place for sure.
But after so many years of cutting grass, trimming trees and fixing culverts, I want to simplify.

when the kids grow up, I'm thinking west end...... where I can bike to the beach, eat pie at true confections, and watch the homos at the pride parade mere blocks from my retirement pad :lol

My parents may move from their half acre in surrey to the west end after retirement. They lived there a long time ago and I think are looking for the same thing just the chill vibe with all amenities at your finger tips etc.

I never really understood the whole Vancouver snob thing prior to living here. When I lived in Burnaby none of my wife’s friends etc would ever come to our parties or wouldn’t even venture out for dinner etc. now that I live in Vancouver though I completely understand it lol. Most of my friends still live in Surrey and I hardly ever see them anymore because I’m not driving out to surrey in the evening lol..especially when everything you need is within a walk I think I may be able to even get by without a vehicle if I had to. Outside of needing a truck for your typical dump/Home Depot runs.

I still refuse to go out and eat dinner if I have to go downtown or take transit or deal with traffic. Fuck em’ lol

Werd, I don't think I've gone downtown for leisure in almost 10 years... lol... I'll go if I'm attending some conference but I stay away.... don't like crowds...

Sounds like maybe RS should just setup a retirement community. We could do the whole shared garage with lift access thing and do track days together.
Interesting tho that the westend does have alot of old people there. Wont be as nice when the hospital moves but....

That's actually a really good idea renting it out for weddings.




50 cent just sold his 52 bedroom mansion for 2.9 million. He was paying 70K a month for maintenance. Crazy how cheap some places are in the states.

bought for $4.1M sold for $2.9M and paying that much maintenance

wow what a loss lol

but 50K sq ft and that luxurious for $2.9M vs what you get here, unreal

You’d be hard pressed to build a 10,000 sq ft home in Vancouver for that price taking into factor materials and labor alone.

I remember this being Mike Tyson's mansion.

Maybe I'm old school, but when I fork over $3m for house, I expected to receive something of this magnitude.

Times have changed indeed.

Thats provided you already own the land or else you'd be getting a standard 32x120 lot with a crack shack on the west side.

^
Can get a pretty nice place on the east side though.