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Originally Posted by EvoFire
I'm in a similar boat, with slightly more equity. We are looking for similar space. If you don't mind an older place, there are larger TH in the 1600-2000sqft range that can be had in Burnaby and Vancouver for 800k-1.3m. Obviously, building maintenance and strata fees are a consideration, as well property taxes.
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We live in a 19 year-old townhouse that has a good mix of old and new - overheight ceilings with an open floorplan, but with forced air heating, larger windows, and storage closets. Ideally, I'd want to buy a unit that was built in the same era - rainscreen, no asbestos, modern electrical, PEX plumbing, etc.
Strata fees are not much of a concern as long as the strata is well managed and the owners know where the money is going. The biggest risk that I see is that the changes in the condo insurance market have screwed over a lot of strata corporations, despite the fact that there are very different risks for each complex based on what they are (high-rise vs low-rise, contingency fund, claims history, etc.). That's kind of why we're looking to get out of a strata property and into a non-strata rowhome, detached house, or at last resort, a non-conforming strata duplex which is likely not subject to the same chaos in the condo insurance market as other strata-titled properties.