Quote:
Originally Posted by 68style
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.
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We must be using different tools.
You want to talk specific examples, all the power to you.
What I was suggesting was simple. If by going out a bit, spend a tad extra (in purchase price) while not having to deal with the ongoing insurance problem/cost that MANY of condo buildings are facing, it makes more sense in the long run.
If you have an argument against that very specific statement, I'm all ears. I've been dealing with RE for the last 20years with my family (albeit mostly commercial or development) so I'm quite well-versed in the topic, and would love to see something I got wrong after 20yrs. But you are trying to say that I was suggesting him to go from a shoebox to a mansion, which I wasn't.