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09-21-2022, 10:51 PM
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#23626 | | I *Fwap* *Fwap* *Fwap* to RS
Join Date: Sep 2011 Location: Surrey
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| Quote:
Originally Posted by PeanutButter  https://www.redfin.ca/bc/vancouver/5...home/175765867
My buddy is looking at this unit. How bad of an idea is living this close to Main and Hastings is it???
I guess it's far enough that it isn't as bad, but I still feel like it's pretty close to the hoards of homeless and druggies. What do you guys think?
edit; he's 33, really wants to move out of his parents house and this is within his price range and really likes the idea of being downtown. | How about mount pleasant / broadway? https://www.rew.ca/properties/449121...rty_click=map#
I'd do without the fireplace personally..
Edit: So i went to see how far affordability has dropped. As a first time buyer, my pre-qualified amount went from ~$480k to ~$400k.
And i thought i made decent money...that gets me a 500 sq ft box in surrey!
Last edited by Phozy; 09-22-2022 at 05:10 PM.
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09-23-2022, 12:30 PM
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#23627 | | My homepage has been set to RS
Join Date: Jun 2013 Location: Burnaby
Posts: 2,452
Thanked 2,933 Times in 781 Posts
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^I think that location is so much better and you get way better value. Not sure what the big deal with being downtown is... That area seems pretty good.
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09-23-2022, 04:13 PM
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#23628 | | I STILL don't get it
Join Date: Aug 2015 Location: Main & Hastings
Posts: 459
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It'll be close to the new Broadway Line station going to UBC
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09-23-2022, 06:57 PM
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#23629 | | in the butt
Join Date: Aug 2016
Posts: 2,882
Thanked 3,659 Times in 1,331 Posts
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| Quote:
Originally Posted by Phozy How about mount pleasant / broadway? | I lived on e7th, mt pleasant, in an older dump two years ago.
Mt pleasant is nice area.
I would personally stay off Broadway, and a block north or east. The further you are off Broadway, the quieter it is. Same applies for any major roads.
I would also suggest paying the premium for a newer building with less sqft.
The older buildings tend to have older people, and some of those have some serious mental issues. This is from my personal experience only.
Furthermore, there will be less larger repairs, and less issues. Overall improving your quality of life.
Lastly, I don't suggest buying any wood construction unit, unless you are top floor
__________________ 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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09-24-2022, 01:49 AM
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#23630 | | 2013, 2016, 2017 & 2018 NHL Fantasy RS1 Champion
Join Date: Aug 2005 Location: Vancouver
Posts: 7,072
Thanked 1,290 Times in 597 Posts
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| Quote:
Originally Posted by Phozy How about mount pleasant / broadway? https://www.rew.ca/properties/449121...rty_click=map#
I'd do without the fireplace personally.. Edit: So i went to see how far affordability has dropped. As a first time buyer, my pre-qualified amount went from ~$480k to ~$400k.
And i thought i made decent money...that gets me a 500 sq ft box in surrey! | Damn
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09-24-2022, 09:39 AM
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#23631 | | I *heart* Revscene.net very Muchie
Join Date: Jun 2002 Location: Vancouver
Posts: 3,691
Thanked 631 Times in 359 Posts
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| Quote:
Originally Posted by Phozy How about mount pleasant / broadway? https://www.rew.ca/properties/449121...rty_click=map#
I'd do without the fireplace personally..
Edit: So i went to see how far affordability has dropped. As a first time buyer, my pre-qualified amount went from ~$480k to ~$400k.
And i thought i made decent money...that gets me a 500 sq ft box in surrey! | You're not alone. I have a couple first time buying clients and they're experiencing the same thing.
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09-24-2022, 10:05 AM
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#23632 | | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
Posts: 4,798
Thanked 2,014 Times in 1,069 Posts
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^^ it's all people not just first time buyer, cuz of the stress test. You're trying to qualify at at least 7%+ now. Like I mentioned before I'm surprised no one has bitched and it's not on the news.  | |
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09-24-2022, 10:26 AM
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#23633 | | in the butt
Join Date: Aug 2016
Posts: 2,882
Thanked 3,659 Times in 1,331 Posts
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| Quote:
Originally Posted by JDMDreams ^^ it's all people not just first time buyer, cuz of the stress test. You're trying to qualify at at least 7%+ now. Like I mentioned before I'm surprised no one has bitched and it's not on the news. | The news is busy pumping the queens funeral for the next month
__________________ 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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09-24-2022, 02:32 PM
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#23634 | | I *heart* Revscene.net very Muchie
Join Date: Jun 2002 Location: Vancouver
Posts: 3,691
Thanked 631 Times in 359 Posts
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| Quote:
Originally Posted by JDMDreams ^^ it's all people not just first time buyer, cuz of the stress test. You're trying to qualify at at least 7%+ now. Like I mentioned before I'm surprised no one has bitched and it's not on the news. | Sorry. I meant the pre-qualified amount from $480k to $400k.
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10-03-2022, 08:35 PM
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#23636 | | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
Posts: 4,798
Thanked 2,014 Times in 1,069 Posts
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Well there's gotta be demand if they're listing at those prices, if you can't afford to buy then rent, I heard you can live for free on Hastings. Those places are easily $600k plus places. So it's easy math $600k @20% down so mortgage of 80% = $480k at @25y 5.3% = $2891 a month. + Strata, property tax, transfer tax, utilities, insurance. It ain't a charity here. You can thank the Canadian gov for keeping the Russian war going = high oil prices, = high inflation = high interest rates.  | |
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10-03-2022, 10:30 PM
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#23637 | | in the butt
Join Date: Aug 2016
Posts: 2,882
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Less buyers = more renters
More renters = higher rents
Although those Facebook rentals are out to lunch.....
To me that looks like a bunch of people trying to "break even" on their purchase. I'd place bets that 3 of 4, of those are going to be vacant for 2 months +
__________________ 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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10-04-2022, 11:01 AM
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#23638 | | Willing to sell body for a few minutes on RS
Join Date: Mar 2002 Location: Victoria
Posts: 10,600
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10 year anniversary of this thread!
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1968 Mustang Coupe
2008.5 Mazdaspeed 3
1997 GMC Sonoma ZR2
2014 F150 5.0L XTR 4x4
A vehicle for all occasions
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10-04-2022, 11:18 AM
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#23639 | | I subscribe to Revscene
Join Date: Mar 2005 Location: Vancouver
Posts: 1,907
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this is an interesting one https://www.timescolonist.com/local-...action-5895572
to be fair - my understanding is that all new builds since 2010 have forbidden stratas from limiting rentals.
This would affect me personally. Our building currently only allow ~10 of our 80 units to be rented out. There is a hardship clause that allows for a few more. The wait list is about 5 years to be able to rent out your own unit.
The only real shitheads in our building are the renters. You can genuinely see the benefit of a owner occupied building in the way that it is taken care of. I suspect that if our building went to unlimited rentals, owner occupiers would quickly become the minority, and the feel of the building would change.
__________________ Quote:
Originally Posted by westopher replace that wood for who gets producer the wood. | | |
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10-04-2022, 12:04 PM
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#23640 | | Rs has made me the woman i am today!
Join Date: Mar 2006 Location: Vancouver
Posts: 4,297
Thanked 3,103 Times in 1,438 Posts
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Rental limits are a double edged sword.
When we were looking to purchase our first home, the no rental buildings were all much nicer, cleaner, better maintained.
The flip side is the potential for value gain is lower, and the flexibility is lower.
We ended up buying in a no rental strata because that's how the eggs fell. It was a good few years.
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10-04-2022, 12:06 PM
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#23641 | | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
Posts: 4,798
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Well how else can they increase supply, everything is so nimby and the city is so slow at upping density. Allowing rentals is actually good for property values, no one wants to buy an owner only building. Owners can be dicks too but usually it's the renter's = poorer crowd with no ownership in the building that causes trouble.
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10-04-2022, 12:13 PM
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#23642 | | I subscribe to Revscene
Join Date: Mar 2005 Location: Vancouver
Posts: 1,907
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| Quote:
Originally Posted by JDMDreams no one wants to buy an owner only building. | that's not true at all.
__________________ Quote:
Originally Posted by westopher replace that wood for who gets producer the wood. | | |
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10-04-2022, 12:56 PM
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#23643 | | Willing to sell body for a few minutes on RS
Join Date: Jul 2001 Location: Cloverdale
Posts: 11,580
Thanked 3,789 Times in 1,349 Posts
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| Quote:
Originally Posted by JDMDreams Well how else can they increase supply, everything is so nimby and the city is so slow at upping density. Allowing rentals is actually good for property values, no one wants to buy an owner only building. Owners can be dicks too but usually it's the renter's = poorer crowd with no ownership in the building that causes trouble. | If I downsized to an Apartment this would be the #1 thing on the list of things I'd have to have.
__________________
The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I donīt care how tough you are, it will beat you to your knees and keep you there permanently, if you let it. You, me or nobody, is gonna hit as hard as life. But ain't about how hard you hit... It's about how hard you can get hit, and keep moving forward... how much you can take, and keep moving forward. Thatīs how winning is done. Now, if you know what you worth, go out and get what you worth. - Rocky Balboa | |
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10-04-2022, 01:09 PM
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#23644 | | Zombie Mod
Join Date: Aug 2003 Location: Langley
Posts: 9,890
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My condo has a limited number of rentals (6, I think?), and it is awesome. We've never had a special-levy in the 16 years I've lived here because strata meetings are proactive on buildings maintenance and security. We don't have slumlords wanting to keep kicking the can down the road in hopes of bailing out before the levys.
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Romans 10:9 | |
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10-05-2022, 03:45 AM
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#23645 | | Network Admin Team
Join Date: Apr 2001
Posts: 5,515
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Imo, removing strata rental restrictions is one of the only and quickest ways to take stress off of the rental market within a shorter timeframe. The solution isn't to simply just build more homes to solve overall housing affordability
Those new build rental market homes being touted in the media and city officials may be rent controlled but are still initial being offered at only slightly less than these currently insane market rates. Individual owners that own older units tend to be more realistic in terms of what they can rent for and less selective if the market is at normal levels.
I briefly managed a new affordable housing program for some new builds. Without saying too much, the system seems to be a bit stacked against people that are genuinely low-income, esp if they have a bad credit score. Any new affordable units coming online will never be really be affordable or even easily attainable for truly low-income individuals
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10-05-2022, 04:55 AM
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#23646 | | I have named my kids VIC and VLS
Join Date: Oct 2001
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Where I used to live by Lougheed mall we lived in 1 of 2 identical towers
Our tower did not allow rentals, the second tower was about 65% rentals. Eventually we were forced to lock the second tower out of all the amenities including gym, pool, saunas, workshop etc. not only were the majority of the renters treating the amenities poorly, the owners of the unit were almost unanimously behind in strata fees as well as voting down almost every amendment to the maintenance and upkeep of the property and amenities. It really forced the hands of the owners
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Dank memes cant melt steel beams
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10-05-2022, 08:56 AM
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#23647 | | My homepage has been set to RS
Join Date: Jun 2013 Location: Burnaby
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I'm curious to know what that new lougheed rental tower from Shape will be like, the rental tower with the $2k studio rent.
At that price point, do people take better care of the property? or are renters just shitty no matter the price point?
I would think if you're able to afford those high rents, you have a certain level of decency, but maybe not?
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10-05-2022, 10:25 AM
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#23648 | | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
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Sir have you heard of China? Sprinklers = place to hang clothes  | |
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10-05-2022, 10:35 AM
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#23649 | | I subscribe to the Fight Club ONLY
Join Date: Aug 2007 Location: Paradise, BC
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Knowing how bad landlords operate and their tendencies to vote down all maintenance-related spendings, would it make sense for the province to amend the Strata Property Act to reduce their influence in AGM decisions? Say, for example, a landlord owner would only get 1/2 a vote, while a live-in owner would get the full vote at the AGM?
People are gonna bitch about how this is undemocratic and everything, but the fact that most people who have owned and lived in a strata property already know is -- there are too many cheapa$$ dickheads playing slump lords, and their cheapness / selfishness is dragging other legitimate owners down the drain along with them.
With Eby's coronation looking extremely likely, this is something BC residents should pitch to Eby and the NDP before the proposal becomes law. Quote:
Originally Posted by Hondaracer Where I used to live by Lougheed mall we lived in 1 of 2 identical towers
Our tower did not allow rentals, the second tower was about 65% rentals. Eventually we were forced to lock the second tower out of all the amenities including gym, pool, saunas, workshop etc. not only were the majority of the renters treating the amenities poorly, the owners of the unit were almost unanimously behind in strata fees as well as voting down almost every amendment to the maintenance and upkeep of the property and amenities. It really forced the hands of the owners | | |
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10-05-2022, 10:36 AM
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#23650 | | Rs has made me the man i am today!
Join Date: Apr 2004 Location: Vancouver
Posts: 3,073
Thanked 69 Times in 47 Posts
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Originally Posted by The Producer | Owners are occupying their own units, how would easing up on rental restrictions increase net supply?
It does help with the value but not really the net supply
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