Vancouver's Real Estate Market

[Teriyaki]

Could not pay me to stay a night in that house. That right there is cursed.

[underscore]

The whole place is so eccentric that it makes this jug of whey and Clubhouse seasoning look so out of place.

[DJ Milk]

I wouldn't mind living there ....................



when I become a Vampire

[AzNightmare]

I've never seen a house so themed up like that before, where even your everyday items are matching.

[unit]

no doubt the owner died in there.

[Gerbs]

I've officially closed on my first home by Joyce Station!

Thanks to everyone here for the great discussion over the last 4 to 5 years that helped impact my decision. I'm glad I followed the advice on getting a less expensive older unit so that I can save for an upgrade down the line and have a larger buffer room to invest into ETFs/Stocks. This is compared to dumping everything on housing costs just to get the newest unit. It was dumb of me to expect the newest and nicest condos out the bat when you are still young and haven't paid your dues yet.

I ended up with a mid-2000's unit that ended up being 40% more spacious than a 2018 to 2020 unit. I also have 2 parking spots so I can always have the S2000 close by. Took close to 6 years to save the downpayment without the BofMD.

[Hondaracer]

Congrats!

There’s no shame in buying an older unit, hell, even if I had the money to buy brand new I’d probably still buy somthing older given the benefits associated.

[Traum]

Originally Posted by Gerbs

I ended up with a mid-2000's unit that ended up being 40% more spacious than a 2018 to 2020 unit. I also have 2 parking spots so I can always have the S2000 close by. Took close to 6 years to save the downpayment without the BofMD.

40% larger + 2 parking spots! That's basically a no brainer over buying new.

Congrats on being debit-ridden for the next 25 years.

[RiceIntegraRS]

Congratulations! Hopefully u took advantage of all the perks of being a first time home buyer. Its been awhile i cant think of any of them aside from the land transfer tax

[JDMDreams]

Under $500 should be transfer tax, they said they are increasing this along with the first time home buyer incentive if you need to borrow the down payment. Then also you can take $35000 out of your rsp for hbp if you have that much.

[sonick]

Congrats! +1 on the call of buying an older unit. Mid-2000's isn't even that old.

I live in a 2007 unit, 1400sqft 3 bedroom + 2 parking spots. It's well built and post-leaky condos so it has proper rain screening etc. No way you can find that type of value in a new build.

[EvoFire]

Congrats! Not that I've contributed much to this thread haha.

[Gerbs]

Originally Posted by sonick

Congrats! +1 on the call of buying an older unit. Mid-2000's isn't even that old.

I live in a 2007 unit, 1400sqft 3 bedroom + 2 parking spots. It's well built and post-leaky condos so it has proper rain screening etc. No way you can find that type of value in a new build.

Wow, I can't imagine how much space a 1,400sqft unit is haha. I'm on a lower floor of a high-rise with about 710sqft and 250sqft in rooftop patio space. It's just enough space to have a decent living/dining room, a bedroom that fits a king-size bed, and a small office with multiple windows. Really like how the office/den has windows and power outlets compared to newer units.

The building had $600,000k in contingency fund at 2020 year-end and the depreciation reports indicate we will not have any special levies until 2032. Which is about $2,000 which it does arrive. Hopefully, the buildings health keeps up for many years to come.

[Manic!]

on sale for 9 mill in 2017 now listed for 5 mill going up for auction. Another house in Alberta was listed for 15 mill went for 5 mill at auction a few weeks back. Think this will sell for higher than 3 mill? No way you could build it for that price.

https://www.conciergeauctions.com/au...alberta-canada

[twitchyzero]

nicely done, can leave my s2k there if you need a placeholder

[underscore]

That looks like it's in a pretty nice location too. 20 mins from downtown on the Rockies side of Calgary is probably one of the best places to live in Alberta.

[van_driver]

Any predictions on downtown prices? Looks like market hasn't recovered since it tanked downtown in late 2018/all of 2019

[Hondaracer]

Have ya been downtown lately? Lol not a great situation

[Gerbs]

What's downtown like these days? Coworkers mentioned that Covid led to homeless spreading.

[Hondaracer]

It’s baddddd

Homeless literally everywhere not just the usual spots. Also shit and piss all over entries to buildings/office towers and dirty needles all over the place. I don’t think it’s far fetched at all to say it’s by far the worst it’s ever been currently.

[Alpine]

DT Condo prices are starting to find support and this coincided with the announcement of vaccines. I guess people are buying the news.

[winson604]

Originally Posted by Gerbs

What's downtown like these days? Coworkers mentioned that Covid led to homeless spreading.

Noticeably nastier, my wife works around Granville/Dunsmuir and has seen a big difference. I was working DT around Robson/Richards area from April-June and also saw an uptick in homeless people as well and with less people being out and about they stick out way more than before.

[68style]

Me and some friends were comparing prices this past 6 months and there’s a lot of primo DT locations we were able to find selling or significantly under ask at $700ish/sqft when new builds in the suburbs are going for $1,000+ which is a sign of no one wanting to buy down there these days and preferring to be out in the suburbs. With all the work from home maybe people aren’t willing to put up with downtown BS (like homless people) to live there?

I’m sure the mayor has it alllll handled though

[Harvey Specter]

I'm staying away from investing in DT for now. A lot of businesses have shuttered and will continue to shutter and won't be returning plus a lot of companies might move to a work from home model so a lot of the workers might not return so parts of the core will be empty for years and overrun by drug addicts.

Also keep in mind the city is buying up buildings for social housing so imagine buying an investment property and the building next door is converted into social housing. I expect the city increasing social housing in DT in the years to come. My fear is our DT becomes to next DT LA, Seattle and SF.

[welfare]

Vancouver running the exact same retarded policies.
Of course it's going to be like those shit holes.