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02-05-2021, 11:56 PM
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#17301 | | 14 dolla balla aint got nothing on me!
Join Date: Sep 2005 Location: Vancouver
Posts: 647
Thanked 219 Times in 82 Posts
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Originally Posted by iambuRnz  I'll be following this thread in the next couple of months and will be using any tips you guys share in this thread. I'm afraid of the future costs in living in a high-rise condo and I don't think it will get any better especially of how many are/will be built in the next couple of years.
So, the search for a townhouse begins... | Gave up on looking for a detached house in this hot market. What's the point of having such low interest rates if you are having to out bid people 200k over asking price. Went for a pre sale in north vancouver (27 North). Great price for what I need for my two kids for at least the next 5 years. I get to live in the location I desire and can start planting down my roots and patiently wait for a time the detached housing market cools and there is more inventory to look at up here in seymour height or blueridge.
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02-06-2021, 12:02 AM
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#17302 | | Rs has made me the woman i am today!
Join Date: Apr 2013 Location: revscene
Posts: 4,344
Thanked 4,863 Times in 1,664 Posts
Failed 165 Times in 63 Posts
| Quote:
Originally Posted by dachinesedude seems like everyone on RS are cash rich; buying million dollar houses with no subjects, jelly
where the middle class people at? | Unless everyone gets A lending, I wouldn't make this generalization across RS.
That said tho, as car guys, we always know how to make it work. My best friend (female) asked me how guys can afford to drop 5K+ on a handbag for their women. Well, if we can drop 4K on wheels, what's another grand? LOL
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|| 18 FK8 | R-18692 | Rallye Red | 6 MT ||
|| SOLD 97 E36 M3 Sedan | Arctic Silver | 5MT ||
|| RIP 02 E46 330ci | Schwartz Black II | 5MT | M-Tech II | Black Cube | Shadowline | Stoff Laser/Anthrazit ||
|| RIP 02 E46 M3 | Carbon Black | 6MT ||
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02-06-2021, 01:20 AM
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#17303 | | Performance Moderator
Join Date: Jun 2001 Location: Richmond
Posts: 16,828
Thanked 17,623 Times in 5,902 Posts
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^ I don't know what kind of girls or guys you hang out with, but that ain't happening amongst anyone I know lol
If a girl told me to buy her a $5k handbag I'd be like "Okay brb" and never return... ain't no ass worth that kinda headache... next!
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02-06-2021, 01:21 AM
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#17304 | | Rs has made me the woman i am today!
Join Date: Apr 2013 Location: revscene
Posts: 4,344
Thanked 4,863 Times in 1,664 Posts
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^ wait this isn't normal? ... I mean I don't do this because I buy myself 4K wheels like a chump.. must explain why I'm single hehehe
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__________________
|| 18 FK8 | R-18692 | Rallye Red | 6 MT ||
|| SOLD 97 E36 M3 Sedan | Arctic Silver | 5MT ||
|| RIP 02 E46 330ci | Schwartz Black II | 5MT | M-Tech II | Black Cube | Shadowline | Stoff Laser/Anthrazit ||
|| RIP 02 E46 M3 | Carbon Black | 6MT ||
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02-06-2021, 01:39 AM
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#17305 | | RS has made me the bitter person i am today!
Join Date: Nov 2010 Location: /
Posts: 4,928
Thanked 2,647 Times in 1,021 Posts
Failed 253 Times in 72 Posts
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Seems like everyone here can afford SFH's haha.
I wanna join too.
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2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
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02-06-2021, 03:36 AM
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#17306 | | My homepage has been set to RS
Join Date: Mar 2008 Location: Vancouver
Posts: 2,193
Thanked 5,428 Times in 864 Posts
Failed 36 Times in 32 Posts
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I thought everyone on RS clears over 250k a year and only bangs 10s?
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02-06-2021, 08:07 AM
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#17307 | | Rs has made me the woman i am today!
Join Date: Apr 2013 Location: revscene
Posts: 4,344
Thanked 4,863 Times in 1,664 Posts
Failed 165 Times in 63 Posts
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^ Or 10s bang your car and you get a nice ROI iykyk
Sent from my SM-G781W using Tapatalk
__________________
|| 18 FK8 | R-18692 | Rallye Red | 6 MT ||
|| SOLD 97 E36 M3 Sedan | Arctic Silver | 5MT ||
|| RIP 02 E46 330ci | Schwartz Black II | 5MT | M-Tech II | Black Cube | Shadowline | Stoff Laser/Anthrazit ||
|| RIP 02 E46 M3 | Carbon Black | 6MT ||
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02-06-2021, 08:39 AM
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#17308 | | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
Posts: 4,798
Thanked 2,014 Times in 1,069 Posts
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It's economics, Van will forever have low supply, so demand will be there. But then this pandemic and City of Van stupid laws has pushed all the ppl who can afford to buy homes out of it. So I'm not sure how it will be moving forward. If you think Van is bad try getting a townhouse in the suburbs, surrey Langley is easily over $1m for detached. Cuz all the younger crowd is getting older with family, cars and kids and wants to get the fuck out of bs Vancouver.
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02-06-2021, 09:10 AM
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#17309 | | RS has made me the bitter person i am today!
Join Date: May 2005 Location: 604
Posts: 4,512
Thanked 1,730 Times in 549 Posts
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the issue is zoning and the pitfalls of the Acts and bylaws that have made development a snail pace.
Vancouver has enough land and old houses ready to deal with the supply issue. For a start, they should fast-track the development permit and rezoning processes. if they can cut the process time in half, we could see a lot of missing middle houses built in the next 4-5 years.
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02-06-2021, 09:28 AM
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#17310 | | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
Posts: 4,798
Thanked 2,014 Times in 1,069 Posts
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^^ the new so called townhouses that they build by knocking down a few houses are absolutely shit. You pay $700 for the basement, park on the street, then the two floors above is like $900 with no real parking, they give you a open air stall in the back alley that's it. It's like renting for a million dollars.
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02-06-2021, 09:37 AM
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#17311 | | RS has made me the bitter person i am today!
Join Date: May 2005 Location: 604
Posts: 4,512
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Those multiplexes you are talking about do not provide enclosed parking to maximize their total floor area. To have enclosed parking for each units, you're going to be left with <850 sq. feet of habitable space/unit (assuming one parking space takes up roughly 160 sq ft).
Again, a zoning and bylaw issue.
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02-06-2021, 09:54 AM
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#17312 | | I told him no, what y'all do?
Join Date: Aug 2006 Location: Vancouver
Posts: 10,163
Thanked 6,023 Times in 2,615 Posts
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i could afford $4k wheels...but then i couldn't have a car to put it on 
i actually knew a guy in school that did that. bought rims but no car for 'em 
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http://www.revscene.net/forums/showthread.php?t=611711 Quote: Greenstoner
1 rat shit ruins the whole congee
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02-06-2021, 10:13 AM
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#17313 | | 14 dolla balla aint got nothing on me!
Join Date: Sep 2005 Location: Vancouver
Posts: 647
Thanked 219 Times in 82 Posts
Failed 28 Times in 10 Posts
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Originally Posted by GLOW i could afford $4k wheels...but then i couldn't have a car to put it on
i actually knew a guy in school that did that. bought rims but no car for 'em | LOL it's like buying furniture and no house to put it in.
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02-06-2021, 12:42 PM
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#17314 | | I subscribe to the Fight Club ONLY
Join Date: Aug 2007 Location: Paradise, BC
Posts: 7,044
Thanked 6,792 Times in 2,747 Posts
Failed 255 Times in 141 Posts
| Quote:
Originally Posted by bcedhk the issue is zoning and the pitfalls of the Acts and bylaws that have made development a snail pace.
Vancouver has enough land and old houses ready to deal with the supply issue. For a start, they should fast-track the development permit and rezoning processes. if they can cut the process time in half, we could see a lot of missing middle houses built in the next 4-5 years. | Vancouver City Hall is the king of red tape. Everything is a PITA just bcos. 
Richmond and Burnaby City Halls, by comparison, is far less troublesome.
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02-06-2021, 01:18 PM
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#17315 | | I have named my kids VIC and VLS
Join Date: Oct 2001
Posts: 37,994
Thanked 15,174 Times in 6,083 Posts
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When I was still in construction we probably built 15 custom homes while I was there. The one in Vancouver took almost 3 times as long as any other jurisdiction. My boss basically said never again after that and that house was basically a favour for friends of his who weren’t the typical client demanding a timeline etc.
Can’t imagine what it’s like to be a contractor building to suit. I guess that’s why most new builds are built by a developer and sold right away
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Dank memes cant melt steel beams
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02-06-2021, 01:24 PM
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#17316 | | Rs has made me the woman i am today!
Join Date: Mar 2006 Location: Vancouver
Posts: 4,297
Thanked 3,103 Times in 1,438 Posts
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Originally Posted by dachinesedude seems like everyone on RS are cash rich; buying million dollar houses with no subjects, jelly
where the middle class people at? | That is middle class in Vancouver 
But seriously, because money is cheap (1.49%) the price of homes have skyrocketed. And sorry to let you know, 1m doesn't buy you anything in Vancouver. A townhouse is 1.5m easy. Quote:
Originally Posted by JDMDreams ^^ the new so called townhouses that they build by knocking down a few houses are absolutely shit. You pay $700 for the basement, park on the street, then the two floors above is like $900 with no real parking, they give you a open air stall in the back alley that's it. It's like renting for a million dollars. | Those are horrible. I prodded around looking at them I can't deal with the shitty layouts because they are trying to squeeze as many units into the space of 3 houses as possible.
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02-06-2021, 01:35 PM
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#17317 | | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
Posts: 4,798
Thanked 2,014 Times in 1,069 Posts
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I think the condo market is gonna pick back up this summer, cheap money is here to stay and lots of businesses have stabilized since everyone is essential. First time buyers have already been priced out of townhouses so they are stuck with condos pushing prices back up.
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02-06-2021, 01:47 PM
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#17318 | | Willing to sell body for a few minutes on RS
Join Date: Jul 2001 Location: Cloverdale
Posts: 11,580
Thanked 3,789 Times in 1,349 Posts
Failed 83 Times in 42 Posts
| Quote:
Originally Posted by dachinesedude seems like everyone on RS are cash rich; buying million dollar houses with no subjects, jelly
where the middle class people at? | I'm not smart or have a super high paying job like most the people here I got lucky getting into the market 20 years ago and let it ride. No word of a lie I only had to put less than 10K down on my first 3 bedroom townhouse. My kid on the other hand he's totally fucked.
On a side note what family income range is even considered middle class anymore?
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The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I donīt care how tough you are, it will beat you to your knees and keep you there permanently, if you let it. You, me or nobody, is gonna hit as hard as life. But ain't about how hard you hit... It's about how hard you can get hit, and keep moving forward... how much you can take, and keep moving forward. Thatīs how winning is done. Now, if you know what you worth, go out and get what you worth. - Rocky Balboa | |
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02-06-2021, 01:56 PM
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#17319 | | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
Posts: 4,798
Thanked 2,014 Times in 1,069 Posts
Failed 214 Times in 128 Posts
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^^ not really your kid has bank of mom and dad lol, like at least 50% of first time buyers do
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02-06-2021, 02:52 PM
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#17320 | | SFICC-03*
Join Date: Mar 2002 Location: richmond
Posts: 8,431
Thanked 2,905 Times in 1,169 Posts
Failed 153 Times in 76 Posts
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houses go up, then th, then condos. the pressure trickles down
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02-06-2021, 03:43 PM
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#17321 | | OMGWTFBBQ is a common word I say everyday
Join Date: Apr 2001
Posts: 5,034
Thanked 2,552 Times in 1,158 Posts
Failed 81 Times in 54 Posts
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Middle class means an ability to live free of high interest debt and to save a bit of money for retirement - say 5-10% of after tax income. Today, that figure is now 75-85K in annual income.
I think these days, middle class in Vancouver is the ability to service housing costs for a 2 bedroom condo within the city limits.
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02-06-2021, 03:54 PM
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#17322 | | Network Admin Team
Join Date: Apr 2001
Posts: 5,515
Thanked 1,539 Times in 537 Posts
Failed 4 Times in 8 Posts
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Just glad i'm not out there hunting for a home this time around. I think I may have some slight PTSD from this shit after buying my place in 2016 and bidding in a parking lot storage wars style lol
Godspeed to those that are searching for a place right now in this market
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02-06-2021, 05:21 PM
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#17323 | | I Will not Admit my Addiction to RS
Join Date: Jun 2005 Location: Vancouver
Posts: 533
Thanked 248 Times in 70 Posts
Failed 84 Times in 16 Posts
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I used to clear six figures before pandemic.. and still felt like I'm not close to middle class in this expensive city.
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02-06-2021, 05:43 PM
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#17324 | | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
Posts: 4,798
Thanked 2,014 Times in 1,069 Posts
Failed 214 Times in 128 Posts
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All in on gme nok ^^ I've been hearing stories of lots of new millionaires. So maybe they are buying up the houses cash
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02-07-2021, 09:54 AM
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#17325 | | Even when im right, revscene.net is still right!
Join Date: Sep 2004 Location: Vancouver
Posts: 1,394
Thanked 266 Times in 91 Posts
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Originally Posted by FOREVER Felt like I shot myself in the foot on this one...
Bought a pre sale unit and moved into it when it was completed. Claimed the new home buyer discount + newly built home incentive. Lived there for 2 years from 2018-2020.
Fast forward to today.. I receive a letter in the mail asking me to provide 2 or more of the following documents dated between jan 2018, feb 2018, march 2019 & jan 2019.
Home Insurance - foolish me didn't even know I had to get this LOL... got home/apartment insurance in April 2019 & 2020.
Home owner grant claim on the property - I have the receipts, but not the stubs zzz.
Moving bill, strata invoices - I was lucky that my strata manager was able to get my strata invoices and it has everything from March 2019 - now.
Online purchases delivered to your home - I sent everything to my parent's house since they lived 10 minutes walking distance away from the apartment or to work.
Telephone/Cable bills - I was able to retrieve this thank god. If you ever need statements beyond 18 months your provider should be able to pull this up on their end. (Can't comment if you hop between providers though)
Credit card/bank statements - I didn't bother changing my address since my parent's place was 10 mins away
Any personal mail that was mailed to the property during the first year of ownership, except BC HYDRO or FORTIS GAS bills. - This triggered me the most, but once again my fault for never changing my address. But the other thing is they wanted MAIL FROM 2 YEARS AGO WITH SPECIFIC TIME RANGES. TLDR: Bought a pre-sale applied discounts/incentives/exemptions. Surprise audit letter comes in asking for specific information 2 years later. Struggled to acquire documents while panicking.
I will be submitting every document that I can though  |
Does this happen a lot? Did many of you get an audit for your first home years later? I can see a lot of ppl using their parents address for a lot of things since it's easier.
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