Quote:
Originally Posted by Hehe
Brain is a wonderful thing when you use to think a bit what people say. Try it sometimes. 
I said fixer-upper and further out of the town but along the Skytrain.
When you factor in the extra paid in insurance, strata fee... etc. A 500k in Joyce (which is basically at the border of Vancouver) vs. an older TH in Burnaby with about 600k (certainly available a quick look on realtor.ca) and if non-strata even better, rare but certainly exist... I don't think the out of pocket monthly payment is much favorable for the 500k condo in Joyce.
I honestly don't see a 500k condo in Joyce to be much nicer than a 600k old TH that's move in ready from a quick look on Realtor.ca. Not to mention the TH is usually bigger in size. |
Cute.
I looked, there are a grand total of 2 "townhouses" in all of Burnaby under $600,000, 1 of them is mis-labelled and is actually a condo out by Highway 1 and the other one is 740 sq ft in size in a shit stain of a building. Yah I'd say the $500k in Joyce area is a lot nicer.
Besides that, you're missing the part where someone can magically be approved for $100k more than they were before, you think $100k extra mortgage is nothing to people?
Townhouses have massive strata fees and insurance issues too! Some are even higher than condo fees now. So what are you actually advising here? People overspend for no reason? Buy something even more expensive and in need of more repairs to avoid some "maybe" insurance premium rise? Good advice bro.