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Old 02-17-2022, 01:02 PM   #20801
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Nothing wrong with that, property has required dual income for a long time. Either you stretch with dual income or suck it up and buy something you can afford. First world problems. But most kids at home these days think they are too good to live in anything more than 5 years old until they realize that they can't afford anything
Forget about homes, even cars a few years old, people think it's "old". Or those that mod their leased cars...
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Old 02-17-2022, 01:49 PM   #20802
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Living at home with parents? If it's a home in East Van, maybe consider asking parents to build a laneway house to live in?

Only downside to that is you don't build up your own equity.
Ask them to drop $250K on a laneway, then kick them into the laneway. You move in the main house and also tell them the basement rental income is yours now. Profit!

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Nothing wrong with that, property has required dual income for a long time. Either you stretch with dual income or suck it up and buy something you can afford. First world problems. But most kids at home these days think they are too good to live in anything more than 5 years old until they realize that they can't afford anything
I noticed with units > 5 years old. The parents wouldn't help fund the place if it's an "old" condo. Same reason why a lot of people buy new cars instead of used. Parents won't pay for used because it'll break. So that thought process translates to condos and houses.
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Old 02-17-2022, 01:57 PM   #20803
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Forget about homes, even cars a few years old, people think it's "old". Or those that mod their leased cars...
Lol, my wife with her 10 year old car almost monthly it's I want a new car. My response is I want a Corvette, sometimes we can't have everything we want in life. Save up and buy your own car or drive it till the wheels fall off and we'll talk.
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Old 02-17-2022, 02:18 PM   #20804
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Ask them to drop $250K on a laneway, then kick them into the laneway. You move in the main house and also tell them the basement rental income is yours now. Profit!



I noticed with units > 5 years old. The parents wouldn't help fund the place if it's an "old" condo. Same reason why a lot of people buy new cars instead of used. Parents won't pay for used because it'll break. So that thought process translates to condos and houses.
Lol..that’s a terrible way to look at it. They should buy in a new build with a crazy design like Vancouver house etc. and they can deal with all the growing pains a building like that brings VS a 5+ year old build that has settled in and had any major issues addressed.

That’s the equivalent of buying like a C230 Benz over a 3 year old Honda Civic and thinking your buying reliability
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Old 02-17-2022, 03:25 PM   #20805
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What's up with people mentioning don't buy together unless you plan on getting married....

Have none of you heard about that thing called divorce?

Furthermore, many people don't believe in marriage all together
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Old 02-17-2022, 03:47 PM   #20806
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^ Better if you are polyamorous ... lessens the mortgage load.
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Old 02-17-2022, 07:24 PM   #20807
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It's the same thing as renting, how many single people can afford to rent the whole unit and pay like $1800 a month, most is room mates or couples who split.

$1800 a month plus type r payment + insurance and gas is like $3000 a month already
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Old 02-17-2022, 07:42 PM   #20808
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^ Try to get into an older building ... constructed around 2000 or so? 1 bedroom for about $400K and slowly build some equity? Disclosure, NOT a real estate agent so I know diddly.

For example $400K, 1bd 1 bath, ~500 sqft, in-suite laundry, $215/mth maintenance, Boundary and Kingsway, looks pretty new and modern
https://www.realtor.ca/real-estate/2...reet-vancouver

Accepted offer on this. Directed our client to this unit and lost out. Sold price not released yet
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Old 02-17-2022, 08:14 PM   #20809
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Curious what sold price ends up being. Is that avail to public or just to agents? Let us knw when that is avail.
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Old 02-17-2022, 08:18 PM   #20810
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Curious what sold price ends up being. Is that avail to public or just to agents? Let us knw when that is avail.
Just on agents only app called homespotter. Sometimes listing agent will say if asked but only after possession. Releasing information like that is also breaching client confidentiality but of course there's always realtors that don't care
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Old 02-18-2022, 06:53 AM   #20811
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Just on agents only app called homespotter. Sometimes listing agent will say if asked but only after possession. Releasing information like that is also breaching client confidentiality but of course there's always realtors that don't care
White V70R, go to Zealty.com, sign up with an email and they will post the sold price after a couple of days.
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and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all.

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Old 02-18-2022, 06:57 AM   #20812
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White V70R, go to Zealty.com, sign up with an email and they will post the sold price after a couple of days.
^ I visited Zealty.com and got a godaddy kind of page asking if I want to buy domain name ... are you sure it is that?
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Old 02-18-2022, 07:00 AM   #20813
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^ I visited Zealty.com and got a godaddy kind of page asking if I want to buy domain name ... are you sure it is that?
Opps, Zealty.ca sorry
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and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all.

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Old 02-18-2022, 07:06 AM   #20814
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Took a quick look on Zealty and ad is still up so the info hasn't gone through yet.

But the thing that I found most interesting is the number of units for sale next door.
6 year old building, everything is around $1200 per sq ft for the comparibles.
I def can't wait to see how much that "500" sq ft unit sells for.
There is a Million dollar unit that is $854 per sq ft.
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and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all.

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Old 02-18-2022, 07:26 AM   #20815
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Holy crap, a dump of a townhouse like this sold for $1M???

This probably would've be lucky to get $600K back when I was shopping in 2019...

https://www.zealty.ca/mls-R2641228/6...E-Richmond-BC/

Actually, there was a slightly bigger unit that sold for $724K in May 2021
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Old 02-18-2022, 07:29 AM   #20816
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Yah, that $400K list for '500 sqft' unit could be slightly too good to be true. One of those units where realtor employ the price it low tactic to get attention and get the highest bid. List at $400K, sale at $460K ... then circulate flyers to entice other owners to sell ... a unit just sold for 15% over asking price.
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Old 02-18-2022, 07:59 AM   #20817
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It's the same thing as renting, how many single people can afford to rent the whole unit and pay like $1800 a month, most is room mates or couples who split.

$1800 a month plus type r payment + insurance and gas is like $3000 a month already
I'm at $3,400 a month on housing ($2,300) and car expenses ($1,100 total, $630 of that is financing). Dancing around two jobs to be able to still save/invest lol.

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Accepted offer on this. Directed our client to this unit and lost out. Sold price not released yet
That unit is really loud with all the cars coming out of the parkade. Especially the peeps bombing down Boundary, Ormidale, or Vanness to get into the parkade. You hear all the popopop.
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Old 02-18-2022, 08:03 AM   #20818
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Yah, that $400K list for '500 sqft' unit could be slightly too good to be true. One of those units where realtor employ the price it low tactic to get attention and get the highest bid. List at $400K, sale at $460K ... then circulate flyers to entice other owners to sell ... a unit just sold for 15% over asking price.
Yeah, that's why I never look at the listing price.
For me, the assessed value is a good place to start, and then add X or XX% on top of that.

In this case, $400-$450K is a good starter unit but a better rental unit and I can see lots of investor types looking into the unit.
It's near the skytrain, though you are in the middle between Joyce station and Patterson.
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and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all.

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Old 02-18-2022, 08:21 AM   #20819
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I’d buy that place today if I could get it for 399 lol
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Old 02-18-2022, 08:31 AM   #20820
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I’d buy that place today if I could get it for 399 lol
So would most other people.
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and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all.

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Old 02-18-2022, 12:53 PM   #20821
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Curious what sold price ends up being. Is that avail to public or just to agents? Let us knw when that is avail.
Sold $530k
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Old 02-18-2022, 12:57 PM   #20822
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Sold $530k
That's insane but not surprised.

Thanks for following up.
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and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all.

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Old 02-18-2022, 01:29 PM   #20823
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^ wow ... as predicted, advertise it low, get lots of eye balls, then let the highest bid win.

That is kind of insane .. not sure I'd go in at that price point for that unit.
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Old 02-18-2022, 03:07 PM   #20824
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$530K in Joyce
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Old 02-18-2022, 03:24 PM   #20825
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Almost $1300/psf for a 1bd/studio @ joyce... that's insane... must've just barely fit into someone's budget with the criteria of a newish 1bd/studio in Vancouver.
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