Vancouver's Real Estate Market

[Eff-1]

We have a new building without A/C but we do have a "cooling" system

It's basically a hydronic system that takes hot water delivered to the building and then chills it using a central chiller. The chilled water is then fed into individual fan coil units located in each suite.

[Great68]

You still have "A/C". For some reason we use the term "Air Conditioning" to represent any sort of mechanical cooling system (it's a shitty term, I don't know why we don't just call any system that provide cooling, a "Cooling" system). Chilled water systems are pretty common, especially in bigger buildings, and especially institutional/commercial buildings.


I worked on the control system for a "Green" LEED platinum residential development here in Victoria. Every summer, without fail I get a call from some of the residents: "I've set my thermostat for 15 degrees and It's not coming down, it's 30 degrees in here".

"Yes maam, your building doesn't have COOLING, please open a window"

[Eff-1]

Originally Posted by Great68

You still have "A/C". For some reason we use the term "Air Conditioning" to represent any sort of mechanical cooling system (it's a shitty term, I don't know why we don't just call any system that provide cooling, a "Cooling" system). Chilled water systems are pretty common, especially in bigger buildings, and especially institutional/commercial buildings.


I worked on the control system for a "Green" LEED platinum residential development here in Victoria. Every summer, without fail I get a call from some of the residents: "I've set my thermostat for 15 degrees and It's not coming down, it's 30 degrees in here".

"Yes maam, your building doesn't have COOLING, please open a window"

That's interesting to hear that. Our developer made a big point of not calling it "A/C" but called it "cooling" to lower people's expectations. The main difference they explained is that A/C runs on a refrigerant and gives instant cold air on demand, whenever you want. Even in the middle of winter.

Ours only works on hot days when the chilled water is fed through and the more overall demand on it, the better it performs.

I will say it's definitely not as cold as say the A/C in our car. And it works better on a hotter day when more people are using it. But for the most part it does take the edge off and keeps the interior temp from spiraling out of control on a hot day. We slept great each night during the heat wave.

[GLOW]

i'm not an hvac guy, but there's also "tempering" of air, where it's not air conditioning but helps lower/moderate the temperature, hence the term tempering. maybe that's why they didn't say full on AC

who knows, maybe someone screwed up the load calculation and they just left it as is

[sonick]

For those who are familiar with Tri-Cities area (Port Moody, Coquitlam, Poco), are there any public park and rides that you pay for parking in order to take the train into downtown?

Starting to actively get into the market and wanted to get my bearings of the area and neighborhoods.

[pherio]

Originally Posted by sonick

For those who are familiar with Tri-Cities area (Port Moody, Coquitlam, Poco), are there any public park and rides that you pay for parking in order to take the train into downtown?

Starting to actively get into the market and wanted to get my bearings of the area and neighborhoods.

Moody Skytrain station, Coquitlam Centre & Port Coquitlam Bus loop all have Park & Ride lots.

Don't know how much they charge though as translink only says "nominal fee"

[immorality]

Originally Posted by sonick

For those who are familiar with Tri-Cities area (Port Moody, Coquitlam, Poco), are there any public park and rides that you pay for parking in order to take the train into downtown?

Starting to actively get into the market and wanted to get my bearings of the area and neighborhoods.

I'm at the western edge of Poco and drive over to the Coquitlam station, it's $3/day or $60/mo. If you are a stickler, there are some months that the daily charge is less than the monthly (especially with WFH now), but one advantage of monthly is that you don't have to remember to pay for parking each day. Those stupid parking tickets are heinous, ~$80 iirc. There aren't a lot of people going in each day, so the lot still has plenty of room. In the before times, the lot would fill up quickly, but there was the overflow by the Rona (which is now a Covid center). I haven't used the Poco station in quite a while, but it's a smaller lot and it can be tough to get out at the end of the day with lot of people leaving onto small roads all at once.

We bought here in 2019, and I really like it. Most people are young/middle age with young families, there's a cute little downtown, but you are close to Coquitlam Center and Fremont (Walmart, CT, HomeDepot), and the Coquitlam River is a great place to spend a sunny day, it's relatively shallow and slow moving in many places so kids can play.

[Tapioca]

Yes, in pre-COVID times, you basically wouldn't be able to get a spot at the Moody Centre Park and Ride unless you parked before 730.

The Park and Ride at Rona is the largest, but it's a long walk if you have to park in the overflow where the current COVID testing site is now. It's $3.50 a day, if I recall correctly.

The West Coast Express is a nice ride, if it works with your schedule. Because it costs more and caters to a specific market, it's a much more pleasant ride than taking the Skytrain during rush hours.

[Great68]

Originally Posted by GLOW

i'm not an hvac guy, but there's also "tempering" of air, where it's not air conditioning but helps lower/moderate the temperature, hence the term tempering. maybe that's why they didn't say full on AC

who knows, maybe someone screwed up the load calculation and they just left it as is

I'm guessing it's actually more of a marketing thing. Chilled water systems are more the "premium" system vs Direct Expansion, so it makes sense they'd play it up.

Athough VRF (Variable Refrigerant) systems are giving them a HUGE run for their money these days.

All the systems have their inherent pros and cons.

And yeah intentionally undersizing for "tempering" is actually a thing. I've worked on a couple buildings at UVic that have done this (The CARSA building is one, the system is sized so that it can only satisfy the gym or the office building side but not both at the same time, so if they're holding events in the gym people working in the offices have to learn to get warm)

[sonick]

Can anybody provide some insight into freehold strata titles for detached homes?

I understand there's maintenance fees for public areas as well as limitations to exterior modifications, but unsure if you own the land of the house like you do in a nonstrata? or is it owned by the strata corp?

[supafamous]

Originally Posted by sonick

Can anybody provide some insight into freehold strata titles for detached homes?

I understand there's maintenance fees for public areas as well as limitations to exterior modifications, but unsure if you own the land of the house like you do in a nonstrata? or is it owned by the strata corp?

If you're talking about duplexes or triplexes (where one or more of the units is detached) in Vancouver (and I think this applies to all of BC) then there's no strata fees involved. It's basically an informal strata (called a non-conforming strata) where you share a few bills like water, garbage and building insurance but otherwise you mind your own business. I believe once you hit 4 units then it can become a conforming strata and there can be fees but even then if you have good neighbours or the lot is simple that can be avoided. There's a 4 unit fully detached lot down the street from me and they don't have strata fees.

This is not a bad writeup on the basics: https://weloveeastvan.com/what-is-a-half-duplex/

I sorta know a bit about this as I live in a duplex so let me know what you're thinking and I can probably answer.

[sonick]

Originally Posted by supafamous

If you're talking about duplexes or triplexes (where one or more of the units is detached) in Vancouver (and I think this applies to all of BC) then there's no strata fees involved. It's basically an informal strata (called a non-conforming strata) where you share a few bills like water, garbage and building insurance but otherwise you mind your own business. I believe once you hit 4 units then it can become a conforming strata and there can be fees but even then if you have good neighbours or the lot is simple that can be avoided. There's a 4 unit fully detached lot down the street from me and they don't have strata fees.

This is not a bad writeup on the basics: https://weloveeastvan.com/what-is-a-half-duplex/

I sorta know a bit about this as I live in a duplex so let me know what you're thinking and I can probably answer.

Nope it is a completely standalone detached home in Coquitlam, not connected at all. In the listings it is listed as Freehold Strata with maintenance fee.

Based on what I read Learn about Strata v Freehold, How a Strata Works & Where the Fees Go - RaifWeston.com, it says:

With a freehold strata, when you buy the strata lot you acquire a fee simple title. In other words, you own the property just like any other conventional home until you decide to sell it.

Just seeing what pros/cons are about this type of property. Sounds pretty ideal if they take care of exterior repairs, lawn care, etc.

[CRS]

Are you talking about the ones on Miller ave?

[Great68]

Originally Posted by sonick

Just seeing what pros/cons are about this type of property. Sounds pretty ideal if they take care of exterior repairs, lawn care, etc.

It's very much like neighbourhoods with Homeowner Associations in the USA

The exterior/common grounds care is probably the biggest pro. You never have to worry about a homeowner neglecting their property and looking at an eyesore.

The biggest con is that exterior modifications to your property are more tightly restricted and the rules decided by a quasi-political group (the strata council). Want to build a shed? You might not be able to. Repaint your house a different colour? Nope. Etc...

[sonick]

Originally Posted by CRS

Are you talking about the ones on Miller ave?

They seem to be all over different areas of coquitlam. Here's one for example: https://www.realtor.ca/real-estate/2...vard-coquitlam

[Tapioca]

Originally Posted by Great68

It's very much like neighbourhoods with Homeowner Associations in the USA

The exterior/common grounds care is probably the biggest pro. You never have to worry about a homeowner neglecting their property and looking at an eyesore.

The biggest con is that exterior modifications to your property are more tightly restricted and the rules decided by a quasi-political group (the strata council). Want to build a shed? You might not be able to. Repaint your house a different colour? Nope. Etc...

Also, like a condo, you don't own the actual land underneath the house. You own a share of the land belonging to the broader complex.

There are other detached stratas throughout the province which are bareland stratas. In those developments, the strata lot is the actual land, so you own the land and the house on it. You would pay strata fees to maintain common property, such as the road and mailbox.

[Tapioca]

Originally Posted by sonick

They seem to be all over different areas of coquitlam. Here's one for example: https://www.realtor.ca/real-estate/2...vard-coquitlam

That complex, Tango, is essentially a full condo in a detached house format.

[sonick]

Originally Posted by Tapioca

Also, like a condo, you don't own the actual land underneath the house. You own a share of the land belonging to the broader complex.

There are other detached stratas throughout the province which are bareland stratas. In those developments, the strata lot is the actual land, so you own the land and the house on it. You would pay strata fees to maintain common property, such as the road and mailbox.

How can you tell bareland stratas from the condo-style stratas? Another one I was seeing is not like the planned community that I shared above, and the maintenance only covers road work. Does that sound more like a bareland strata?

[Tapioca]

Originally Posted by sonick

How can you tell bareland stratas from the condo-style stratas? Another one I was seeing is not like the planned community that I shared above, and the maintenance only covers road work. Does that sound more like a bareland strata?

We own a bareland strata house and I'm on the strata council.

Realtors should disclose if the house is a bareland strata property, but you can usually tell if there are strata fees on the listing that are in the $50-$150 range. These fees are required for insuring the common property (e.g. the road), waste collection, possibly landscaping, and a reserve for future maintenance of common property. When you get your hands on the survey, it will say "Bareland Strata" on the document.

R2599663 is an example of a bareland strata property in the Tri-Cities.

Basically, in a bareland strata complex, the strata corporation replaces the jurisdiction of a municipality. The strata is responsible for maintaining the road and the infrastructure underneath, waste collection, enforcing parking rules, noise bylaws, etc. The owner of a bareland strata, like if they were to own a non-strata titled lot, is fully responsible for maintaining their buildings on their lot. If you want to repaint your house, go ahead. If you want to replace your windows, you wouldn't need the approval of the strata council beforehand provided that your window replacement doesn't require a building permit. You do however have a "duty to repair" your strata lot, which means that you have to keep your lot (e.g. the land) in good repair. For example, if you've got a fence surrounding your lot, if you let it go into disrepair, the strata can come after you and require you to replace it. There may also be other bylaws on the books that have to do with how you maintain the appearance of your property from the outside. In our strata, there are bylaws on the books that prevent people from hanging their laundry in their yards.

Down the road, if a developer wanted to buy out the complex, it would work with the strata council, rather than individual home owners. So, if 75% of your neighbours voted to sell their lots to a developer, you would have to sell your lot and your house. Conversely, in a non-strata situation, you could be a holdout for as long as you want (or until a developer puts a gun to your head).

[Hondaracer]

In b4 influx of people back to the city because summers east of Hope are nothing but smoke?

[sonick]

Originally Posted by Tapioca

We own a bareland strata house and I'm on the strata council. [snip]

This is great info, thank you, really appreciate it!

[fliptuner]

Originally Posted by immorality

I'm at the western edge of Poco.

Welcome to the hood. Are you West of the river?
I'm all the way South, in Citadel.

[immorality]

Originally Posted by fliptuner

Welcome to the hood. Are you West of the river?
I'm all the way South, in Citadel.

Yes, just west, near Lougheed and Westwood. We looked at a place on Citadel right beside the park, but it basically sold 5 minutes after we looked at it. My sister in law bought the same time that we did and she's at Eastern & Western (lol). We bought in the fall of 19 before Covid hit, so we didn't get a whole lot of time to get out and explore the city as much as we would have like to, but we are getting there now.

[Oshiguru]

Originally Posted by Oshiguru

Finally in a position where i can purchase a condo on single income. End unit in a building I like took 2 months to sell and sold beginning of April for 12% under asking (355k (White Rock)). Second unit comes up, non end unit, older appliances, smaller by 120 sqft. Sells for 450k four weeks after the end unit sold.

Man this market is so hard to predict and I literally can't outbid some of these offers with what my preapproval is. Forever renting i guess

Bumping myself again. Recently, prices in the same are listed and selling for 5-10% more from that 450k price for similar 1br units. 2BRs in the newer concrete towers are 800-900k+. Lots of units sold in the March 2020 dip to this years March are being flipped and sold too.

Considered looking at condos in Cloverdale where I grew up and prices are similar

[JDMDreams]

^ welcome to Surrey, lots of high rise units for under $400 still to choose from. Buddy guy