Quote:
Originally Posted by hud 91gt
My wife’s parents live in the west end. They are elderly and have always wanted us to live on the property eventually. It’s taken years but with how much time we spend there and how much happier my wife is when she’s around them all the time I’m coming around to the idea. Or... have come around. The other day I inquired with a coworker who runs a developing company on the side (or maybe my work is the side work ��). I asked him how much it would be to build a house, and a laneway house. I had it in my head we could do it for 1.5 million. Would take a lot of saving, but my wife and I have good jobs and could manage it. With a budget like that we could have a nice upper class house and be good for life.
The guys reply, “maaaaaybe 2 million, maybe.” Are you kidding me? Vancouver is so messed! I then proceeded to contact a builder my wife likes about building in Cowichan lake on a small little lot we bought. “We average about $220sq/f, plus your permits.” Which in that part of the world could be paid with a CERB cheque. Lol. This place is so messed up. (For those not good at math, that would probably be 500k).
Honest to god, I don’t understand it. I saw an article it costs about 650k to start digging in Vancouver now. Call it 500k for a laneway (it was 350 a few years ago permits included), that brings us down to around 900k to build the house. Labour is double the cost of the island? I don’t get it.
Even if you are given land, and have 2 good salaries it’s hard to live here. Lol. So silly.
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2 mill seems redonk... like... I know what the places around my parents sold for... and then immediately were torn down and built into big-ass mansions... and then re-sold right away for profit... and based on what they re-sold for, they would have had to come in around $600-800k absolute maximum built to grab a decent profit. This was within the last year too.
Something wrong with those numbers....... or maybe you're getting the westide pricing? My parents are in Richmond near Steveston for sake of argument. I wouldn't imagine materials costs are any different though.