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03-06-2021, 02:29 PM
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#17701 | | Where's my RS Christmas Lobster?!
Join Date: Nov 2012 Location: Vancouver
Posts: 841
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^to hoard all the junk lmao.
Seriously though, to provide your children with more wealth when you pass it down. Or even if you don't have children, you will retain more $$$ when you are in your elderly ages, and you can downgrade to a condo and use the extra $ for what you need.
My parents realized that the condo that they bought back in mid 2000s (was around 230k at the time) is only worth 370k-400k recently, meanwhile a house that they could had bought in East Van at the time (420k) was just sold for 1.7m at the end of 2020. Thankfully they bought a couple years ago, the mortgage has been stressful and they don't have a lot of extra $ to spend on themselves, but that goes for a lot of immigrant families.
And to all the car enthusiast on here, who doesn't wish you can park multiple cars in your own garage and on your own driveaway, and best of all, wash and detail your cars on your driveaway as well
Last edited by is350; 03-06-2021 at 02:36 PM.
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03-06-2021, 02:42 PM
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#17702 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Feb 2002 Location: Vancouver
Posts: 8,315
Thanked 3,958 Times in 1,526 Posts
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Why do you need kids to have a SFH?
I like having a yard, my own space, neighbours further then a wall away.
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03-06-2021, 03:21 PM
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#17703 | | Willing to sell body for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
Posts: 12,440
Thanked 31,911 Times in 7,397 Posts
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I totally think we all understand the benefits. Just question what peoples cost thresholds are for the luxury.
I have to say, I’m happy that the vast majority of my neighbours in my building are great people to deal with, and our condo board is as well. No unnecessary bullshit, no passive aggressive Karen’s and no stupid rules. And most importantly a very well equipped car wash bay.
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98 technoviolet M3/2/5 Quote:
Originally Posted by boostfever  Westopher is correct. | Quote:
Originally Posted by fsy82 seems like you got a dick up your ass well..get that checked | Quote:
Originally Posted by punkwax Well.. I’d hate to be the first to say it, but Westopher is correct. | | 
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03-06-2021, 03:52 PM
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#17704 | | Rs has made me the woman i am today!
Join Date: Apr 2014 Location: Van
Posts: 4,429
Thanked 1,887 Times in 997 Posts
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Keep in mind that banks will most likely require a full appraisal on anything over $1m which means the appraiser will need to go inside. Technically you can be refused this by the seller if you put no subjects. And I have seen deals get rejected as the property does not meet the banks requirements so you're fucked if you put no subjects even though you have a pre approval. So I'm thinking possibly the people putting no subject offers might be taking funds out from helocs. But it's gonna be a giant ass heloc to pay for $2m  | |
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03-06-2021, 04:14 PM
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#17705 | | Need to Seek Professional Help
Join Date: Mar 2003 Location: Vancouver
Posts: 1,091
Thanked 164 Times in 83 Posts
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Originally Posted by JDMDreams Keep in mind that banks will most likely require a full appraisal on anything over $1m which means the appraiser will need to go inside. Technically you can be refused this by the seller if you put no subjects. And I have seen deals get rejected as the property does not meet the banks requirements so you're fucked if you put no subjects even though you have a pre approval. So I'm thinking possibly the people putting no subject offers might be taking funds out from helocs. But it's gonna be a giant ass heloc to pay for $2m | In your contract you should have a stipulation saying you can have access to x amount of times prior to closing...that’s what we did in case the appraiser needs access...however I know when we did it they didn’t require full access inside...I guess it might be needed if you need the suite income though?
At worse the bank won’t deny your mortgage amount (unless the place is like a grow op or leaky condo or something) but they’ll just say they would only mortgage a lesser amount and it’s up to you on finding the difference
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03-07-2021, 08:38 AM
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#17706 | | Even when im right, revscene.net is still right!
Join Date: Jun 2003 Location: Vancouver
Posts: 1,303
Thanked 387 Times in 163 Posts
Failed 15 Times in 6 Posts
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The wife want to downsize. I wish we could do this on a trial so she can realize what a great neighbourhood we live in. Very quiet, great neighbours, lots of room for the dogs to run about.
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03-07-2021, 08:45 AM
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#17707 | | Willing to sell body for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
Posts: 12,440
Thanked 31,911 Times in 7,397 Posts
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Rent a place and rent yours out?
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98 technoviolet M3/2/5 Quote:
Originally Posted by boostfever Westopher is correct. | Quote:
Originally Posted by fsy82 seems like you got a dick up your ass well..get that checked | Quote:
Originally Posted by punkwax Well.. I’d hate to be the first to say it, but Westopher is correct. | | |
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03-07-2021, 08:45 AM
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#17708 | | ninja edits your posts without your knowledge
Join Date: Jan 2004 Location: Vancouver
Posts: 14,992
Thanked 6,363 Times in 1,793 Posts
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Originally Posted by GIZZ The wife want to downsize. I wish we could do this on a trial so she can realize what a great neighbourhood we live in. Very quiet, great neighbours, lots of room for the dogs to run about. | Have you thought about renting an air B&B in the neighbourbood/area your wife wants to downsize to?
This would fit your idea of a trial and you wouldn't have to sell your place.
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03-07-2021, 09:09 AM
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#17709 | | Even when im right, revscene.net is still right!
Join Date: Jun 2003 Location: Vancouver
Posts: 1,303
Thanked 387 Times in 163 Posts
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Some good ideas, would give her an idea of the smaller space issues and potential extra noise with Condo/city living. Hard to replace your neighbours tho.
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03-07-2021, 09:29 AM
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#17710 | | Waxin’ Punks
Join Date: Jun 2006 Location: South Surrey
Posts: 7,188
Thanked 6,081 Times in 2,097 Posts
Failed 215 Times in 113 Posts
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^so true. I have great neighbours and we’re in a very quiet neighborhood. I’d hate to move somewhere and be disappointed in the people around me.
__________________
If you drive like an asshole, you probably are one. Quote:
Originally Posted by MG1 punkwax, I don't care what your friends say about you, you are gold! | Quote:
Originally Posted by mikemhg What do your farts sound like then? | | |
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03-07-2021, 10:56 AM
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#17711 | | Rs has made me the man i am today!
Join Date: May 2007 Location: New West
Posts: 3,160
Thanked 1,341 Times in 557 Posts
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what's the end of life cycle for old condos? At what age is demolition on the horizon and what happens to the current owners/tenants?
looking at older condos rn and one thing turning me off is the lack of appreciation potential for something 40+ yrs old
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03-07-2021, 12:17 PM
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#17712 | | To me, there is the Internet and there is RS
Join Date: Apr 2007 Location: Okanagan
Posts: 16,573
Thanked 9,257 Times in 4,029 Posts
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Originally Posted by JDMDreams Keep in mind that banks will most likely require a full appraisal on anything over $1m which means the appraiser will need to go inside. | I was able to get my house appraised for a HELOC increase by just sending the guy some pictures. That might not fly for a purchase and I have no way of knowing if he decreased the value because of it but it doesn't hurt to ask about.
__________________ 1991 Toyota Celica GTFour RC // 2007 Toyota Rav4 V6 // 2000 Jeep Grand Cherokee
1992 Toyota Celica GT-S ["sold"] \\ 2007 Jeep Grand Cherokee CRD [sold] \\ 2000 Jeep Cherokee [sold] \\ 1997 Honda Prelude [sold] \\ 1992 Jeep YJ [sold/crashed] \\ 1987 Mazda RX-7 [sold] \\ 1987 Toyota Celica GT-S [crushed] Quote:
Originally Posted by maksimizer half those dudes are hotter than ,my GF. | Quote:
Originally Posted by RevYouUp reading this thread is like waiting for goku to charge up a spirit bomb in dragon ball z | Quote:
Originally Posted by Good_KarMa OH thank god. I thought u had sex with my wife. :cry: | | |
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03-07-2021, 03:25 PM
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#17713 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Feb 2002 Location: Vancouver
Posts: 8,315
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^ I did one recently too. Photos only due to Covid.
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Crush - 1971 Datsun 240z - Build Thread
The Daily - Rav4 V6 - “Goldilocks”
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03-07-2021, 03:56 PM
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#17714 | | RS.net, where our google ads make absolutely no sense!
Join Date: Jan 2007 Location: GVA
Posts: 902
Thanked 335 Times in 121 Posts
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Originally Posted by JDMDreams Keep in mind that banks will most likely require a full appraisal on anything over $1m which means the appraiser will need to go inside. | In Jan 2021 - the appraiser HSBC hired did not need to go in or on the property... not even sure they made the trip to be honest. Detached, <$1.5M.
The building value on my property is pretty low so that probably helps - at least 90% land value I'd guess - as the land doesn't really need to be appraised in person. If more of the value is in the building then I could see them wanting to visit.
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03-07-2021, 07:32 PM
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#17715 | | Rs has made me the woman i am today!
Join Date: Mar 2006 Location: Vancouver
Posts: 4,014
Thanked 2,881 Times in 1,317 Posts
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Originally Posted by westopher Do you have more savings you’d put into the down payment? That just seems very tight to me.
We have about 300k equity in our condo. Our household income is just shy of 200k. No day care, no debt, no kids. We are trying to save quite aggressively as this income is pretty new to us, and money was tight before.
I couldn’t imagine taking on more than a 5-600k mortgage, but I’m pretty risk averse, also we like to take lots of trips over the course of a year, albeit small ones. Budgeting tightly like that is really scary to me, as things pop up, people move jobs, need time off for a multitude of reasons. I understand peoples priorities are different however, but I just can’t make those sacrifices for an address without a unit number in front of it. If we worked from home, or could I think my thinking would be different. | We have another 20k or so of rainy fund lying around. Otherwise everything went into the mortgage. Honestly unless you have 6 figures just lying around doing nothing, it's not going to make much of a dent on a 7 figure home.
Is 10k a year of surplus too tight for you? 10k surplus is something like 18k pre-tax income.
We took lots of trips before too, covid and a young child kind of makes that impossible. We don't foresee really being able to travel again until early 2022.
People do move jobs, but moving jobs for both of us would only be up unless tech takes a massive shit(doubt it). Wife took a sizable paycut for her current job because of a career move and also for flexibility. Our 200k right now can probably be 250k in 5 years or so.
Your last line really hammered it home. We both work from home and we are feeling the space crunch. Things are a little better now that the little one is at daycare, but the little guy easily takes up more space that both of us combined.
The other financial things are really about even in terms of property tax and insurance and strata fees.
The big benefits we are looking for is a) having a yard, b) having a garage, c) more privacy.
Like some one else posted here, our parents sucked it up and only travelled once every 3 years or so, drove a base Dodge Caravan, and we ate cheap so they can afford a house. Obviously times are different, but we have two BMWs, we live well. Sucking it up and tightening it a little doesn't seem like such a bad tradeoff. Quote:
Originally Posted by is350 ^to hoard all the junk lmao.
Seriously though, to provide your children with more wealth when you pass it down. Or even if you don't have children, you will retain more $$$ when you are in your elderly ages, and you can downgrade to a condo and use the extra $ for what you need.
My parents realized that the condo that they bought back in mid 2000s (was around 230k at the time) is only worth 370k-400k recently, meanwhile a house that they could had bought in East Van at the time (420k) was just sold for 1.7m at the end of 2020. Thankfully they bought a couple years ago, the mortgage has been stressful and they don't have a lot of extra $ to spend on themselves, but that goes for a lot of immigrant families.
And to all the car enthusiast on here, who doesn't wish you can park multiple cars in your own garage and on your own driveaway, and best of all, wash and detail your cars on your driveaway as well | The garage want is real. The bit about parking wealth is also real. We are risk averse in terms of investments. This is a slow but safe place to park our money. I don't see the same kind of insane gain we saw in the last 20 years, but hey who knows, no one saw those gains coming either.
We went through the whole "we have space and we'll fill up that space with shit" ordeal already. I think we are done with accumulating junk. If anything we are getting rid of junk.
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03-07-2021, 10:49 PM
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#17716 | | in the butt
Join Date: Aug 2016
Posts: 2,817
Thanked 3,535 Times in 1,289 Posts
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Originally Posted by PiuYi what's the end of life cycle for old condos? At what age is demolition on the horizon and what happens to the current owners/tenants?
looking at older condos rn and one thing turning me off is the lack of appreciation potential for something 40+ yrs old | Too many variables
A building that has proper upkeep will last 100+ years
A building with cheap owners, an upcoming 150k elevator replacement, 150k roof, 400k membrane, and 1.2mil envelope special assessments, is gonna look real good to sell to an investor offering 1.3 of market value to the current owners to tear down and rebuild
Buy what works for you
Personally, im not going to be buying any more 40+ year old buildings, unless the owners like spending money, and the building shows like its 10-20 years old
__________________ Quote:
Originally Posted by Mr.Money
i hate people who sound like they smoke meth then pretend like they matter.
Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
Originally Posted by mikemhg
Clothes come off and my car is permeated with the smell of fillet-o-fish and canned tuna.
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03-08-2021, 06:15 AM
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#17717 | | I contribute to threads in the offtopic forum
Join Date: Mar 2011 Location: Vancouver
Posts: 2,870
Thanked 2,647 Times in 1,146 Posts
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Originally Posted by is350 And to all the car enthusiast on here, who doesn't wish you can park multiple cars in your own garage and on your own driveaway, and best of all, wash and detail your cars on your driveaway as well | The duplex I live in has an unusable garage - the ramp to get in is too steep for a regular car and the insides are too narrow (less than 9' wall to wall) for anything but a subcompact so a top 3-4 reason (a yard, more space, and better quality are other top reasons) why we're looking to get/build a new place is to get an actual garage that we can use.
I'm not looking to park a minivan in there, I just wanna fit my future sports car in there but city regs don't require that when a garage is built that it actually be usable. A lot of the new houses being built, especially those with laneways, are built with really narrow insides. Just give me 10' on the inside walls.
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Current: 2019 Acura RDX
Gone: 2007 Acura TSX, 2008 Mazda 3 GT, 2003 Mazda Miata LS, 2008 Mazda Miata GT PRHT, 2003 Mazda Protege 5
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03-08-2021, 07:25 AM
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#17718 | | I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: Oct 2007 Location: Vancouver BC
Posts: 22,076
Thanked 9,848 Times in 3,914 Posts
Failed 881 Times in 421 Posts
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never heard of that, even if you back in the ramp is too steep to clear like 3-4"?
deep > wide if you hoard cars...unless maybe if you have the og hummer
my first time buyer's mistake was not measuring the garage properly
i was reading the news article about 6plexes and council said who gives af about offstreet parking, most car owners just use it for storage anyways  | |
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03-08-2021, 07:39 AM
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#17719 | | I contribute to threads in the offtopic forum
Join Date: Mar 2011 Location: Vancouver
Posts: 2,870
Thanked 2,647 Times in 1,146 Posts
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Originally Posted by twitchyzero never heard of that, even if you back in the ramp is too steep to clear like 3-4"? | Yep. My garage is part of a coach house (we're actually a triplex) so it's 3 single garages next to each other and the alley isn't flat and the low point of the alley is where my stall is. The builder was an idiot and used the 1st stall as the starting point for the height of the coach house so the alley is quite a bit below the entrance to my garage.
Neither my TSX or Mazda 3 could get in without serious scraping (my TSX was lowered by an inch though). The builder got someone to show up and add some more asphalt to reduce the angle but it still doesn't work for a regular car - he was an asshole so he didn't really want to address the issue.
Here's a shot of it from Streetview, you can sorta see that the entrance to my garage is about 2' higher than the low point of the alley. 
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Current: 2019 Acura RDX
Gone: 2007 Acura TSX, 2008 Mazda 3 GT, 2003 Mazda Miata LS, 2008 Mazda Miata GT PRHT, 2003 Mazda Protege 5
Last edited by supafamous; 03-08-2021 at 08:04 AM.
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03-08-2021, 07:49 AM
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#17720 | | Performance Moderator
Join Date: Jun 2001 Location: Richmond
Posts: 16,360
Thanked 16,873 Times in 5,633 Posts
Failed 286 Times in 182 Posts
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That’s brutal who did the surveying for that build
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03-08-2021, 08:27 AM
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#17721 | | I told him no, what y'all do?
Join Date: Aug 2006 Location: Vancouver
Posts: 10,040
Thanked 5,941 Times in 2,573 Posts
Failed 101 Times in 63 Posts
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my friend's garage is similar, but even more gnarly on 1 end.
__________________ Feedback
http://www.revscene.net/forums/showthread.php?t=611711 Quote: Greenstoner
1 rat shit ruins the whole congee
originalhypa
You cannot live the life of a whore and expect a monument to your chastity | Quote:
[22-12, 08:51]mellomandidnt think and went in straight..scrapped like a bitch
[17-09, 12:07]FastAnna glowjob
[17-09, 12:08]FastAnna I like dat
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03-08-2021, 08:31 AM
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#17722 | | I *heart* Revscene.net very Muchie
Join Date: Apr 2001 Location: Burn-A-Bee
Posts: 3,967
Thanked 404 Times in 181 Posts
Failed 10 Times in 10 Posts
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Originally Posted by twitchyzero never heard of that, even if you back in the ramp is too steep to clear like 3-4"?
deep > wide if you hoard cars...unless maybe if you have the og hummer my first time buyer's mistake was not measuring the garage properly
i was reading the news article about 6plexes and council said who gives af about offstreet parking, most car owners just use it for storage anyways | Same here! I thought I would have plenty of space in my double garage but lengthwise my 3G TL-S would barely fit, I didn't even bother trying to squeeze our 2G MDX in.
And newer cars are just getting bigger and bigger...
__________________ Never argue with a dumbass, they drag you down to their level and try to beat you with experience My Feedback
Blah™
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03-08-2021, 09:58 AM
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#17723 | | Old School RS
Join Date: May 2004 Location: Port Moody
Posts: 4,593
Thanked 4,035 Times in 1,229 Posts
Failed 129 Times in 79 Posts
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Originally Posted by hud 91gt Why do you need kids to have a SFH?
I like having a yard, my own space, neighbours further then a wall away. | One word: garage.
I deal with having a yard in exchange for getting to have a garage lol.
-Mark
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I'm old now - boring street cars and sweet race cars. | |
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03-08-2021, 10:15 AM
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#17724 | | OMGWTFBBQ is a common word I say everyday
Join Date: Apr 2001
Posts: 5,004
Thanked 2,490 Times in 1,140 Posts
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Interesting Twitter thread started by YVRHousing Analyst about who's buying SFH in Vancouver: https://twitter.com/YVRHousing/statu...849548295?s=20 | |
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03-08-2021, 11:16 AM
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#17725 | | I contribute to threads in the offtopic forum
Join Date: Mar 2011 Location: Vancouver
Posts: 2,870
Thanked 2,647 Times in 1,146 Posts
Failed 56 Times in 22 Posts
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Originally Posted by twitchyzero my first time buyer's mistake was not measuring the garage properly | I had an accepted offer on a house 5 years ago and then backed out when my wife started measuring the building and couldn't see how the place added up to 1500sf.
Nowadays I bring a laser measure for me and am especially interested in the width of the garage and the size of the bedrooms. I get particularly excited when a single garage measures 12' wide between the drywall. https://www.realestatemagazine.ca/ho...s-place-again/
Here's a court case over a house that was misrepresented by over 42% in size that the buyer won.
__________________
Current: 2019 Acura RDX
Gone: 2007 Acura TSX, 2008 Mazda 3 GT, 2003 Mazda Miata LS, 2008 Mazda Miata GT PRHT, 2003 Mazda Protege 5
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