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Wife and I are thinking of selling our 10yr old, detached house, on Burke Mountain, in coquitlam, in order to move back closer to Vancouver/burnaby.
Lifestyle in Coq is great for the years we lived there. However, commuting downtown everyday was tiresome.
We've moved back to my inlaws now for the past couple of years, and we love it! Both of us grew up in E.Van so our life had always been out this way.
Plus with having a dog and a baby, its great to have family help, with even the smallest tasks.
Our Coq property is in the $1.3-$1.6 range based on current market value and what the area is currently selling for.
To buy a place in van/burnaby, we're not planning on taking on too much more mortgage. Maybe around $300k tops.
I'm estimating we'll sell around the $1.5range, +/- $500k.
So with around $1.5mill to shop with, and in factoring in the style of interior/reno-styles we like (new and modern), options left are really just new duplexes.
Or if we wanted detached homes in that range, it'll be an old house which prob needs about $300k in renos.
What would you personally do, and why?
Anyone able to share horror stories of owning a duplex?
Is it a bad idea to drop $300k to reno a house listed around $1.1mil?
Family will likely grow with another child, but they could share rooms for the next 10yrs or whatever... so I'm thinking about this as well. But dint need the extra space immediately, although more space would be great.
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