Quote:
Originally Posted by 68style
I don't think it matters when most of the population cant afford the downpayment on a 1 bedroom condo though dude... and don't necessarily have parents or whatever else they can live with.
It's out of reach for most.
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Idk how true is this. I know first year nurses making 170K cause of OT. And various other roles that make at least 150K. I think it's more lifestyle inflation than anything. Cue avocado toast meme.
Hell even my brother who worked (part time) his way through school, saved and invested everything has a sizable investment amount - at least 150K enough for a down payment. Granted he's also in a position of privilege and circumstance, paid his schooling with his own money every year, but lives at home rent free.
IMO, the problem now isn't saving up for the DP, it's qualifying for the mtg, which you need to increase income to do so.
Quote:
Originally Posted by Gerbs
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Funny enough you mention this, because I've noticed there are many many cheap properties for sale. West End, sub $450K, but strata fees are like $800+. Here's a list of a
few.
Manic might be onto smt that Nanaimo is slept on too. All with garages.
Old House - $700K
New House - $688K
Newer Duplex, $700K
3BD 2BA 1277SQFT TH - $550K
2BD 2BA 1358 SQFT TH - $560K
Older 2/2 1234SQFT TH - $400K
If you really wanted a house, you can also live in a pretty nice place, albeit leasehold for $400-450K in Vernon
https://www.rew.ca/properties/427-hu...enue-vernon-bc
https://www.rew.ca/properties/533-loon-avenue-vernon-bc
There was also a few listings I found of interest in Ladysmith and Royal Bay area.