| Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum. |
 | | 
05-22-2022, 09:27 PM
|
#22226 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Apr 2004 Location: Vansterdam
Posts: 8,060
Thanked 1,808 Times in 934 Posts
Failed 85 Times in 24 Posts
| Quote:
Originally Posted by Alpine  The townhome units at the base of a condo tower get hit the worst. They can be the size of a standard townhome (ie. 1100-1400sqft), but pay the standard condo strata rates. While a regular townhouse of that size might be $300/mo in strata, these units pay $700-1200/mo... | But that ain't really a direct comparison don't the townhomes within a condo get to use the condos amenities which almost always will be more than a standard townhome complex has to offer. Whether you use it or not is not anyone's fault but it's something you're still paying for none the less.
That aside yes it can be pretty fucking wild paying $0.70 + @ 1000 + sq.
__________________
"back at the line to Babych.... LONG SHOT....Potvin had trouble with it....ADAM SHOOTS SCORES!!!!
GREG ADAMS!! GREG ADAMS!!"
| 
|  | |
05-22-2022, 10:28 PM
|
#22227 | | RS has made me the bitter person i am today!
Join Date: Nov 2010 Location: /
Posts: 4,795
Thanked 2,502 Times in 956 Posts
Failed 253 Times in 72 Posts
| Quote:
Originally Posted by JDMDreams Your strata is killing you for a one bed  sell the veloster and get a $10k Miata??? Profit | It's pretty high but it is what it is if you want something in the 700ish sq ft range. I tried to buy a NA and ND2 miata, couldn't fit, knees couldn't clear steering wheel lol. Our contingency fund has around $1,100,000 or $5,300ish per unit. So we should don't have any special levies planned until 2032 for like $1,000?
__________________
2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
| |
| | |
05-23-2022, 06:27 AM
|
#22228 | | Where's my RS Christmas Lobster?!
Join Date: Jan 2007 Location: GVA
Posts: 899
Thanked 335 Times in 121 Posts
Failed 36 Times in 2 Posts
| Quote:
Originally Posted by winson604 But that ain't really a direct comparison don't the townhomes within a condo get to use the condos amenities which almost always will be more than a standard townhome complex has to offer. Whether you use it or not is not anyone's fault but it's something you're still paying for none the less.
That aside yes it can be pretty fucking wild paying $0.70 + @ 1000 + sq. | It's a good point, but I'd point out that there are some things that a condo-townhouse doesn't benefit from (elevators, high-rise window washing, etc.).
They're an exception but there are some townhome communities that have condo-like amenities without having to pay condo-level fees, e.g. the way Klahanie in Port Moody is set up with a common "club house" building that all the stratas with access to pay to maintain, but are still separate stratas.
E.g. this 1400 sq ft. unit only has fees of $315: https://www.klahanieportmoody.ca/Act...-bc#viewdetail
There were some condo-townhome units I looked at, especially around Main/Broadway, Mount Pleasant, where the townhome was part of the podium and had like $800+ fees. Nice units but that alone was enough to deter me.
| |
| | |
05-23-2022, 08:55 AM
|
#22229 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Apr 2004 Location: Vansterdam
Posts: 8,060
Thanked 1,808 Times in 934 Posts
Failed 85 Times in 24 Posts
| Quote:
Originally Posted by carsncars It's a good point, but I'd point out that there are some things that a condo-townhouse doesn't benefit from (elevators, high-rise window washing, etc.).
They're an exception but there are some townhome communities that have condo-like amenities without having to pay condo-level fees, e.g. the way Klahanie in Port Moody is set up with a common "club house" building that all the stratas with access to pay to maintain, but are still separate stratas.
E.g. this 1400 sq ft. unit only has fees of $315: https://www.klahanieportmoody.ca/Act...-bc#viewdetail
There were some condo-townhome units I looked at, especially around Main/Broadway, Mount Pleasant, where the townhome was part of the podium and had like $800+ fees. Nice units but that alone was enough to deter me. | The non benefits are definitely true but this is strata life. You can own a condo unit that doesn't come with a parking spot yet if a fix is needed via special assessment or otherwise you're still on the hook because you're part of the building. Not everything will always pertain to everyone. Unfortunately, that's just the reality and something we have to accept even if we don't like it.
As for condo like amenities yea it does exist and like you said an exemption as it's pretty rare. I just want a damn garage lol I live in one of those modern day Vancouver townhomes where they're stacked with another unit on top and the parking is underground sigh.
__________________
"back at the line to Babych.... LONG SHOT....Potvin had trouble with it....ADAM SHOOTS SCORES!!!!
GREG ADAMS!! GREG ADAMS!!"
| |
| | |
05-23-2022, 02:38 PM
|
#22230 | | Even when im right, revscene.net is still right!
Join Date: Jun 2003 Location: Vancouver
Posts: 1,302
Thanked 387 Times in 163 Posts
Failed 15 Times in 6 Posts
|
For most of us, a garage is a big deal. I found a condo in Van with 5 car parking, 3 of the spots in it's own self contained garage. But I wouldn't be able to stick my lift in there, and I'm sure welding isn't allowed. Doesn't matter anyway, they pulled it off the market.
| |
| | |
05-23-2022, 07:36 PM
|
#22231 | | Performance Moderator
Join Date: Jun 2001 Location: Richmond
Posts: 16,357
Thanked 16,870 Times in 5,631 Posts
Failed 286 Times in 182 Posts
|
^ Thanks for sharing  hahaha
| |
| | |
05-24-2022, 04:16 PM
|
#22232 | | Rs has made me the woman i am today!
Join Date: Apr 2007 Location: Langley
Posts: 4,061
Thanked 3,352 Times in 1,270 Posts
Failed 92 Times in 70 Posts
|
Were within our 120 day mortgage renewal window now, what are peoples take on fixed vs variable rates at this time? We went with fixed last time but the fixed rates are sitting around 4% now so I'm trying to do a little research into which way to go.
| 
| | |
05-24-2022, 04:24 PM
|
#22233 | | Rs has made me the woman i am today!
Join Date: Apr 2014 Location: Van
Posts: 4,406
Thanked 1,881 Times in 992 Posts
Failed 191 Times in 118 Posts
|
Variable? Still under 3 fixed is gonna be way over 4 and your payments will jump up
| |
| | |
05-24-2022, 08:21 PM
|
#22234 | | 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
Failed 35 Times in 27 Posts
|
The reason fixed is 4, is because variable is suspected to follow shortly. History shows in The end you will pay less with variable. Either way, prepare for 4%.
Saying all this, I’m on the island at my moms. A neighbouring development just went for sale to the public and 9/10 sold last weekend. Sure it’s lake front, but didn’t expect that so quick.
__________________
Crush - 1971 Datsun 240z - Build Thread
The Daily - Rav4 V6 - “Goldilocks”
Last edited by hud 91gt; 05-24-2022 at 08:27 PM.
| |
| | |
05-25-2022, 08:39 AM
|
#22235 | | I contribute to threads in the offtopic forum
Join Date: Mar 2011 Location: Vancouver
Posts: 2,859
Thanked 2,638 Times in 1,142 Posts
Failed 56 Times in 22 Posts
|
I'm not risk adverse so if the spread is more than 1.25% then I'm going with variable even in this climate where we're anticipating more increases.
__________________
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
| |
| | |
05-25-2022, 09:16 AM
|
#22236 | | RS has made me the bitter person i am today!
Join Date: Nov 2010 Location: /
Posts: 4,795
Thanked 2,502 Times in 956 Posts
Failed 253 Times in 72 Posts
|
The fixed only made sense when rates were sub 1.5 - 3%. Otherwise Variable seems to always be the way to go.
__________________
2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
| |
| | |
05-25-2022, 09:43 AM
|
#22237 | | OMGWTFBBQ is a common word I say everyday
Join Date: Apr 2001
Posts: 5,004
Thanked 2,490 Times in 1,140 Posts
Failed 79 Times in 53 Posts
|
Since most people here are aspiring detached home owners or are investors (i.e. looking to trade-up/sell before a 5-year term is up), the difference in the penalty to break a mortgage alone is the reason why you should almost always go with variable.
Variable = 3 months of interest to break
Fixed = interest rate differential which can be significant given the average mortgage these days.
| |
| | |
05-25-2022, 01:23 PM
|
#22238 | | Where's my RS Christmas Lobster?!
Join Date: Jan 2007 Location: GVA
Posts: 899
Thanked 335 Times in 121 Posts
Failed 36 Times in 2 Posts
| Quote:
Originally Posted by Tapioca Since most people here are aspiring detached home owners or are investors (i.e. looking to trade-up/sell before a 5-year term is up), the difference in the penalty to break a mortgage alone is the reason why you should almost always go with variable.
Variable = 3 months of interest to break
Fixed = interest rate differential which can be significant given the average mortgage these days. | On that note, not that I'm looking to sell anytime soon, but out of curiosity...
I'm on a 5 year fixed mortgage with HSBC that ends in 2026 at 1.49% with 3.10% discount - let's say I'm 1 year in for simplicity. Their current posted 4-year rate is 4.64%.
By my calculations, the IRD is negative? So would my penalty just be 3 months' interest? Wowa's calculator seems to agree...
I guess I should ask HSBC to know for sure but it's just a hypothetical question for me.
| |
| | |
05-25-2022, 02:22 PM
|
#22239 | | My homepage has been set to RS
Join Date: Mar 2004 Location: East Van
Posts: 2,160
Thanked 854 Times in 422 Posts
Failed 22 Times in 18 Posts
|
You can also port your mortgage rather than breaking it. But that is only if you sell your current place and move it to a more valuable property.
I just closed on our mortgage renewal today. 2.79% on five year fixed. We have it written from the lender that we can port the mortgage as we are likely to move in the next year or so.
| |
| | |
05-25-2022, 02:45 PM
|
#22240 | | I *heart* Revscene.net very Muchie
Join Date: Jun 2002 Location: Vancouver
Posts: 3,679
Thanked 623 Times in 355 Posts
Failed 20 Times in 17 Posts
| Quote:
Originally Posted by carsncars On that note, not that I'm looking to sell anytime soon, but out of curiosity...
I'm on a 5 year fixed mortgage with HSBC that ends in 2026 at 1.49% with 3.10% discount - let's say I'm 1 year in for simplicity. Their current posted 4-year rate is 4.64%.
By my calculations, the IRD is negative? So would my penalty just be 3 months' interest? Wowa's calculator seems to agree...
I guess I should ask HSBC to know for sure but it's just a hypothetical question for me. | It's higher of the 2 that your penalty is based on.
| |
| | |
05-25-2022, 02:48 PM
|
#22241 | | Rs has made me the woman i am today!
Join Date: Apr 2014 Location: Van
Posts: 4,406
Thanked 1,881 Times in 992 Posts
Failed 191 Times in 118 Posts
|
Where did you get at year fixed at 2.79? Most big banks should be over 4% even for 2 years by now
| |
| | |
05-25-2022, 03:15 PM
|
#22242 | | My homepage has been set to RS
Join Date: Jun 2013 Location: Burnaby
Posts: 2,424
Thanked 2,907 Times in 770 Posts
Failed 407 Times in 108 Posts
| Quote:
Originally Posted by Tapioca Since most people here are aspiring detached home owners or are investors (i.e. looking to trade-up/sell before a 5-year term is up), the difference in the penalty to break a mortgage alone is the reason why you should almost always go with variable.
Variable = 3 months of interest to break
Fixed = interest rate differential which can be significant given the average mortgage these days. | Dang, do people really have a three year timeline to upgrade???
My down payment and financial portfolio need at least 10 years before I can upgrade.
| |
| | |
05-25-2022, 03:27 PM
|
#22243 | | My homepage has been set to RS
Join Date: Mar 2004 Location: East Van
Posts: 2,160
Thanked 854 Times in 422 Posts
Failed 22 Times in 18 Posts
| Quote:
Originally Posted by JDMDreams Where did you get at year fixed at 2.79? Most big banks should be over 4% even for 2 years by now | First National. We locked in the rate towards the end of February, needed to close by May 25. Cut it a bit close haha.
| |
| | |
05-30-2022, 07:47 AM
|
#22244 | | OMGWTFBBQ is a common word I say everyday
Join Date: Apr 2001
Posts: 5,004
Thanked 2,490 Times in 1,140 Posts
Failed 79 Times in 53 Posts
| Quote:
Originally Posted by PeanutButter Dang, do people really have a three year timeline to upgrade???
My down payment and financial portfolio need at least 10 years before I can upgrade. | We upgraded before our mortgage term was over, but it required a few things to happen: new jobs/promotions, favourable market timing, and flexibility in property type/age and location.
I get the sense that many millennials aren't really that flexible with respect to location and the type of property they're looking to upgrade to.
| |
| | |
05-30-2022, 10:01 AM
|
#22245 | | I contribute to threads in the offtopic forum
Join Date: Mar 2011 Location: Vancouver
Posts: 2,859
Thanked 2,638 Times in 1,142 Posts
Failed 56 Times in 22 Posts
| https://twitter.com/eastvanbuilder/s...vTOuONDuwaL1Ug
Nice Twitter thread on the costs of building a house on Vancouver.
tl;dr - No surprise that a new build costs about a million dollars in Vancouver.
__________________
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
| |
| | |
05-30-2022, 10:23 AM
|
#22246 | | I have named my kids VIC and VLS
Join Date: Oct 2001
Posts: 37,274
Thanked 14,822 Times in 5,893 Posts
Failed 2,052 Times in 683 Posts
|
Don’t really love his breakdown. Saying individual items like sidewalks and exterior stairs are X amount. This would all be taken care of by a framer, or buy a form guy building and pouring everything at once.
I’ve never seen billing for interior finishing as a per door type thing, etc.
__________________
Dank memes cant melt steel beams
| |
| | |
05-30-2022, 10:42 AM
|
#22247 | | I told him no, what y'all do?
Join Date: Aug 2006 Location: Vancouver
Posts: 10,032
Thanked 5,935 Times in 2,571 Posts
Failed 101 Times in 63 Posts
|
i guess he's looking at it based on a building element format vs a $/sf or divisional breakdown. i hate how it's in like paragraph form vs an easy table or bullet form. but then again i don't use twitter so i don't know what you can/can't do.
he's scoped out a lot of the soft costs though
__________________ 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
| | |
| | |
05-31-2022, 09:05 AM
|
#22248 | | I contribute to threads in the offtopic forum
Join Date: Nov 2006 Location: Vancouver
Posts: 2,942
Thanked 1,121 Times in 531 Posts
Failed 71 Times in 38 Posts
| Quote:
Originally Posted by Hondaracer Don’t really love his breakdown. Saying individual items like sidewalks and exterior stairs are X amount. This would all be taken care of by a framer, or buy a form guy building and pouring everything at once.
I’ve never seen billing for interior finishing as a per door type thing, etc. | same...$40k for cabinets? built ins too? and for east van homes with 2 kitchens + baths + extras? no way...
| |
| | |
05-31-2022, 09:21 AM
|
#22249 | | RS has made me the bitter person i am today!
Join Date: Nov 2010 Location: /
Posts: 4,795
Thanked 2,502 Times in 956 Posts
Failed 253 Times in 72 Posts
| Quote:
Originally Posted by Tapioca We upgraded before our mortgage term was over, but it required a few things to happen: new jobs/promotions, favourable market timing, and flexibility in property type/age and location.
I get the sense that many millennials aren't really that flexible with respect to location and the type of property they're looking to upgrade to. | I noticed from my social circle the millennials and Gen Z's are heavily adamant on new builds. 2015+, with some giving for 2010+ if closer to city centre. But I think that's because their parents are paying the down payment so they get the final say on the place because they have to like it.
Just curious, did anyone here buy a $1M+ property without any prior equity? If you did how do you do it. The monthly payments are so high @ 4-5% interest.
__________________
2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
| |
| | |
05-31-2022, 09:41 AM
|
#22250 | | Rs has made me the woman i am today!
Join Date: Apr 2014 Location: Van
Posts: 4,406
Thanked 1,881 Times in 992 Posts
Failed 191 Times in 118 Posts
|
^ you need min $200k down, which is highly unlikely to accumulate for a single person to have before 35. Unless you have a good partner or funds from parents. Plus how are you gonna pay for that $800k MTG, you need like $200k annual income to support that. And no outstanding debt either.  so no Tesla or type RS
| |
| | | |
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts
HTML code is Off
| | |
All times are GMT -8. The time now is 12:05 PM.
|
You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!
The banners on the left side and below do not show for registered users!
