Quote:
Originally Posted by Liquid_o2
What are people's thoughts on the Deer Lake area of Burnaby? Thinking about a townhouse... but considering the long-term value and desirability. Does it make sense to buy a $1 million dollar townhouse with a strata fee north of $400/month, or a single-family home much further out with a rental suite?
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A house on land will always appreciate more than a townhouse because after all, you're buying a defined area of land, rather than a somewhat vague interest and a strata lot. Detached houses on non-strata land are an extinct species in the Lower Mainland and will become more scarce each year as lots are subdivided and stratified.
It comes down to your lifestyle. A house is more work, whether you outsource maintenance to others or you put in the work yourself, but at least you have control over your property. With a strata property, you have to trust that your strata council and your property management company are acting in your best interest. Even if you're the president of a strata council, there are no guarantees that you can maintain your property in the way that suits your needs and objectives.