Vancouver's Real Estate Market

[Alpine]

There are also plenty of companies now who do custom cabinet fronts for ikea kitchen cabinets. Ikea cabinets are probably the best you can get for that price point.

[carsncars]

Originally Posted by yray

ikea hard ware, get a carpenter to do solidwood fronts





FYI, the corner is gonna suck donkey balls with ikea cabs

I am just guesstimating but prepare to have odd ball gap at the end cabinets that needs to be filled with something if youre' using ikea.

Yeah probably not even going to bother with the corner, and will just have the straight row of cabinets to the end and accept having the gap between the counters and fridge. I have some plans for further layout changes in 3-4 years that will see the fridge change position anyways.

I got a couple quotes for installed stone countertops and it's looking like $2K-$2.5K including fab, removal of old countertop, and install.

I'll probably find a few quotes for cabinet demo/install next for comparison before making the final call on updating the current ones vs. scrapping and getting new ones. Perfectly happy with IKEA cabinets, to go with something more expensive in this house would probably be excessive.

(Still taking any recommendations... also just for general contractors, have some flooring/paint jobs for our suite coming up)

[supafamous]

Originally Posted by carsncars

Yeah probably not even going to bother with the corner, and will just have the straight row of cabinets to the end and accept having the gap between the counters and fridge. I have some plans for further layout changes in 3-4 years that will see the fridge change position anyways.

Could probably put the fridge where the microwave is now and then the corner becomes pretty useful.

I put in an Ikea kitchen a couple years ago with a little help from my dad and my FIL. Turned out to be surprisingly easy to do on my own though we have very little patching up work to do. For the money it simply can't be beat.

[carsncars]

Originally Posted by supafamous

Could probably put the fridge where the microwave is now and then the corner becomes pretty useful.

I put in an Ikea kitchen a couple years ago with a little help from my dad and my FIL. Turned out to be surprisingly easy to do on my own though we have very little patching up work to do. For the money it simply can't be beat.

That's exactly where I was hoping to put it. Would involve moving a light switch panel on that wall and some rewiring if we want to keep the fridge on its own circuit... so we'll need to get some quotes.

[Harvey Specter]

Another record breaking sale in Fraserview, actually South/East Vancouver but this time I can see why someone would pay over $3m+. It's a nice house and area.



7509 VIVIAN DRIVE
Vancouver
Fraserview VE V5S 2V5
Listing Date 2021-Mar-23
Sold Date 2021-Mar-30
Sale Reported Date 2021-Apr-06
Days on Market 7
Selling Price $3,310,000
Asking Price (Final) $2,899,900
Asking Price (Original) $2,899,900
Size of House 3,772 sqft
Price per SqFt $878
Basement Full, Fully Finished
Lot Size 0.12 ac
Lot Frontage 50 ft
Age of House 6 years old
Property Taxes $6,940.21 (2020)

https://www.zealty.ca/map.html

[GS8]

Originally Posted by Hondaracer

Take from this what you will, but any of you guys looking at newer builds, duplexes etc. AVOID E.I builders..

Jesus Christ I’ve been in 3 different brand new builds in the last week and it’s fucking embarrassing that the buyers realtor let them buy these places.

Honestly, some of these Burnaby/Vancouver places I’ve been in are ducking terribleeeee, like some of the worst finishing/exterior envelope I’ve seen ever. Back when I was still building homes if I left one room in the state some of these entire homes are left in turn over, I’d be fired on the spot.

Fucking plumbing clean outs in main hallways with a black cap and baseboards just notched around them, door casings crooked and uneven with another door 4 inches away, HACK JOB tile and flooring. Holy fuck I can’t believe how bad it is. No sense or reasoning behind outlet or jack placement etc. Etc.

And frankly, these are all E.I builders, every single one of them.

If anyone is ever interested in having someone walk through your home with you for a deficiency walk through, I offer my services for free if I’m available. Because people should NOT be moving into brand new homes in this state. Fuck is it embarrassing.

One thing I’ll say lately is that Asian (seemingly Chinese?) builders have really stepped it up in terms of the quality of work I’ve been seeing. At least on the surface. Much more attention to detail than their E.I counter parts who have probably been doing it much longer.

I heard the crews typically order Buddyyyyyyyyy Burgers for lunch

[Traum]

Actually, I'm surprised the house only sold for $3.3M. 6 years old house, located in one of the best area in East Van, on a quiet street facing the Fraserview golf course. If a nothing special house on Victoria Drive asking for $1.7M can get bidded up to $2.6M, this one asking for $2.9M and selling for $3.3M is a smoking bargain and a much better buy.

Originally Posted by Harvey Specter

Another record breaking sale in Fraserview, actually South/East Vancouver but this time I can see why someone would pay over $3m+. It's a nice house and area.

7509 VIVIAN DRIVE
Vancouver
Fraserview VE V5S 2V5
Listing Date 2021-Mar-23
Sold Date 2021-Mar-30
Sale Reported Date 2021-Apr-06
Days on Market 7
Selling Price $3,310,000
Asking Price (Final) $2,899,900
Asking Price (Original) $2,899,900
Size of House 3,772 sqft
Price per SqFt $878
Basement Full, Fully Finished
Lot Size 0.12 ac
Lot Frontage 50 ft
Age of House 6 years old
Property Taxes $6,940.21 (2020)

[hud 91gt]

My wife’s parents live in the west end. They are elderly and have always wanted us to live on the property eventually. It’s taken years but with how much time we spend there and how much happier my wife is when she’s around them all the time I’m coming around to the idea. Or... have come around. The other day I inquired with a coworker who runs a developing company on the side (or maybe my work is the side work ��). I asked him how much it would be to build a house, and a laneway house. I had it in my head we could do it for 1.5 million. Would take a lot of saving, but my wife and I have good jobs and could manage it. With a budget like that we could have a nice upper class house and be good for life.

The guys reply, “maaaaaybe 2 million, maybe.” Are you kidding me? Vancouver is so messed! I then proceeded to contact a builder my wife likes about building in Cowichan lake on a small little lot we bought. “We average about $220sq/f, plus your permits.” Which in that part of the world could be paid with a CERB cheque. Lol. This place is so messed up. (For those not good at math, that would probably be 500k).

Honest to god, I don’t understand it. I saw an article it costs about 650k to start digging in Vancouver now. Call it 500k for a laneway (it was 350 a few years ago permits included), that brings us down to around 900k to build the house. Labour is double the cost of the island? I don’t get it.

Even if you are given land, and have 2 good salaries it’s hard to live here. Lol. So silly.

[Hondaracer]

Well lumber prices have almost tripled in some cases in the last year or so. Hard to control those costs

[hud 91gt]

Originally Posted by Hondaracer

Well lumber prices have almost tripled in some cases in the last year or so. Hard to control those costs

For sure, but that is everywhere. Both quotes were today’s prices. Although Cowichan said to expect a 15-20% increase over the next year.

[quasi]

Thing with lumber it's shot up like a rocket as has steel, I've seen this in the past both will come down to earth eventually and recede almost as fast as they went up but that's anyone's guess when that is.

[hud 91gt]

Was speaking with a Bosa guy the other day about building as he has been sitting on a lakefront lot across from ours(were not that well off lol). He was saying it actually makes more sense to do concrete/foam structure now over wood. Concrete hasn’t seen the increases that wood has so pricing is now similar. But you get the efficiency benefits of the concrete. Both thermal/noise and building efficiencies. Interesting...

[RouRK]

the cost of wire has went up 50% over the last year, our cost of conduit up 60%

commercial lighting up near 30%

we get price increases monthly, sometimes without notice. The cost of building is increasing daily.

NMD90 (lumex, Romex) is up even more. I used to be able to get it for around $103 for 150 meter roll, now its $170 a roll in quantity. I have contracts i signed last year and because of Vancouver and their slow permit process are just starting. I have to find ways to cover the added costs.

i would wait for things to come down before building.

[punkwax]

I was planning to replace my deck last year then covid hit and my pay suffered so I held off hoping to do it this year. Now with the lumber costs I’m thinking I’ll have to postpone again, which sucks.

[tdeweyn]

Renovations to convert the half to full bath is not going to happen anytime soon then.

[hud 91gt]

I was researching importing some items from China is a 40ft container. Shipping costs have gone up 1000%. Yes, 3 zeros. Freakin’ crazy.

[supafamous]

Originally Posted by hud 91gt

I was researching importing some items from China is a 40ft container. Shipping costs have gone up 1000%. Yes, 3 zeros. Freakin’ crazy.

I work at a place with suppliers in Vietnam and China so we book hundreds of containers each month. Our costs are about 4-5x higher now for entire containers and even then we can't get enough of them b/c a lot of containers are stuck in North America (not enough buying out of Asian to get them sent back).

[quasi]

Originally Posted by supafamous

I work at a place with suppliers in Vietnam and China so we book hundreds of containers each month. Our costs are about 4-5x higher now for entire containers and even then we can't get enough of them b/c a lot of containers are stuck in North America (not enough buying out of Asian to get them sent back).

This is kind of what one of my supplier told me, unless I misunderstood him every time they get a container shipped now they have to buy the container because none available which has added huge to the shipping costs. Those costs are passed right along down the line to the consumer.

For the most part I'm able to get my steel prices held, suppliers are adding escalation but wood they won't guarantee anything more than like a week. When I'm bidding jobs that aren't starting until next year and not finishing until halfway through 2023 that's rough. I'm terrified when they want me to include any wood items, so much risk for us. Some projects I'm just refusing to include it,probably costing us jobs but oh well.

[hud 91gt]

Originally Posted by quasi

This is kind of what one of my supplier told me, unless I misunderstood him every time they get a container shipped now they have to buy the container because none available which has added huge to the shipping costs. Those costs are passed right along down the line to the consumer.

For the most part I'm able to get my steel prices held, suppliers are adding escalation but wood they won't guarantee anything more than like a week. When I'm bidding jobs that aren't starting until next year and not finishing until halfway through 2023 that's rough. I'm terrified when they want me to include any wood items, so much risk for us. Some projects I'm just refusing to include it,probably costing us jobs but oh well.

so what your saying is shipping container home costs should be coming way down right?

https://www.treehugger.com/thmb/Dg51...83513890db.jpg

[donk.]

Hud_91 we gonna make some cash moneys selling container comes for 2.7 mil or what?

[snowball]

Originally Posted by hud 91gt

My wife’s parents live in the west end. They are elderly and have always wanted us to live on the property eventually. It’s taken years but with how much time we spend there and how much happier my wife is when she’s around them all the time I’m coming around to the idea. Or... have come around. The other day I inquired with a coworker who runs a developing company on the side (or maybe my work is the side work ��). I asked him how much it would be to build a house, and a laneway house. I had it in my head we could do it for 1.5 million. Would take a lot of saving, but my wife and I have good jobs and could manage it. With a budget like that we could have a nice upper class house and be good for life.

The guys reply, “maaaaaybe 2 million, maybe.” Are you kidding me? Vancouver is so messed! I then proceeded to contact a builder my wife likes about building in Cowichan lake on a small little lot we bought. “We average about $220sq/f, plus your permits.” Which in that part of the world could be paid with a CERB cheque. Lol. This place is so messed up. (For those not good at math, that would probably be 500k).

Honest to god, I don’t understand it. I saw an article it costs about 650k to start digging in Vancouver now. Call it 500k for a laneway (it was 350 a few years ago permits included), that brings us down to around 900k to build the house. Labour is double the cost of the island? I don’t get it.

Even if you are given land, and have 2 good salaries it’s hard to live here. Lol. So silly.

2 mil??? What the hell kind of house is this? 4000 sq ft gold plated exterior?

[68style]

Originally Posted by hud 91gt

My wife’s parents live in the west end. They are elderly and have always wanted us to live on the property eventually. It’s taken years but with how much time we spend there and how much happier my wife is when she’s around them all the time I’m coming around to the idea. Or... have come around. The other day I inquired with a coworker who runs a developing company on the side (or maybe my work is the side work ��). I asked him how much it would be to build a house, and a laneway house. I had it in my head we could do it for 1.5 million. Would take a lot of saving, but my wife and I have good jobs and could manage it. With a budget like that we could have a nice upper class house and be good for life.

The guys reply, “maaaaaybe 2 million, maybe.” Are you kidding me? Vancouver is so messed! I then proceeded to contact a builder my wife likes about building in Cowichan lake on a small little lot we bought. “We average about $220sq/f, plus your permits.” Which in that part of the world could be paid with a CERB cheque. Lol. This place is so messed up. (For those not good at math, that would probably be 500k).

Honest to god, I don’t understand it. I saw an article it costs about 650k to start digging in Vancouver now. Call it 500k for a laneway (it was 350 a few years ago permits included), that brings us down to around 900k to build the house. Labour is double the cost of the island? I don’t get it.

Even if you are given land, and have 2 good salaries it’s hard to live here. Lol. So silly.

2 mill seems redonk... like... I know what the places around my parents sold for... and then immediately were torn down and built into big-ass mansions... and then re-sold right away for profit... and based on what they re-sold for, they would have had to come in around $600-800k absolute maximum built to grab a decent profit. This was within the last year too.

Something wrong with those numbers....... or maybe you're getting the westide pricing? My parents are in Richmond near Steveston for sake of argument. I wouldn't imagine materials costs are any different though.

[Hondaracer]

2 mill to build a 3500 sq ft house is like $570/sq ft

Getting into ultra high end at those prices, custom mill work etc.

[hud 91gt]

The breakdown kind of explains it.
2 million includes the house and a laneway. A few years ago we were close on building a laneway at 350k. I assume those prices have gone up substantially (probably 500k). After permits (I’m guessing this is the difference between Richmond and Van? 650k sounds insane to break ground??) it seems like 900ish to build the house. I thought that was insane (the quote was from a builder who only builds in the west side). My wife cross checked with someone she knows who built something similar. (House, suite and laneway) in a similar area and it cost them 2.3 in the last year. They are designers themselves so I figure they probably know what the industry pricing is. Seconded by another massive build for 3 million (just the house) but this was a high end build and I think pushing 35-4000sq/f.

You also have to add into Vancouver home recycling procedures when getting rid of an old house too. They don’t make things cheap for anyone. It still seems way off to me, but this is from people who do it for a living or have done it themselves. Just insane.

[Doubl3_H]

Here's a break down of what I've seen in the last year or so.

West Van British Properties
$400 sq/ft custom home on Chartwell Dr, 7800sq/ft finished with heated infinity pool built by "white builder"

East Van
"Chinese builders" is charging $300 sq/ft for a "custom home".
"E.I builder" averaging min. $220-$300 sq/ft also for a "custom home.

Meanwhile in Surrey / Delta area
The “E.I BUDDY GUY" price for their own E.I community is anywhere from $90 - $200 sq/ft + permits.

A family friend paid all in $800k to build a so called custom home near Renfrew area from a E.I builder, and from what I have seen inside the house and outside I can confidently say the builder walked away with $350k min in profit in less than 10 months.

Just to echo on what was said earlier in this thread, unless you like getting ripped off and or you don't care how your house is built, I would stay away from E.I builders.