Coquitlam Anyone
 

It looks like we're being priced out of North Vancouver so are looking at options elsewhere. We've had some decent feedback on Maple Ridge on this forum,bu would be interested in canvassing views on Coquitlam (and Port Coquitlam) as he prices there look more reasonable. Can anyone through any light on the following:

Whats it like as a place to live (we have two young children, 5 & 3)
What areas should we be looking at (and avoiding, if any)
Is there much crime
What the schools are like
The approximate commute time to Downtown

Many Thanks in advance

Re: Coquitlam Anyone
 

try joining the Brits2Vancouver yahoo group http://groups.yahoo.com/group/Brits2Vancouver and also check out http://www.brits2bc.com/index.htm for Sue and Frank's help (expat realtors)

Re: Coquitlam Anyone
 

Hi
Don't give up yet .
We thought we wouldn't be able to afford N Van, but prices are slowing and in some cases dropping, we got a 'fixer upper' at a very good price.

Coquitlam and Port Coquitlam, from what we saw seem reasonable, plenty of work around and easy access to the freeway,
Off peak to downtown, about 1/4 - 1/2 hr
peak maybe 1/2 - 3/4 hr,
sometimes it seems an endless queue on the freeway.
( I do the route the opposite way N van to poco, a real easy commute)
cheers
jerry

Re: Coquitlam Anyone
 

I grew up in the Tri-Cities and have lived here my whole life, other than my 3 year stint in London where I found my fiancee and escaped back to Canada.

Both Coquitlam and Port Moody are great places especially for young families. Port Coquitlam is nice too but definitely adds time to your commute.

The comment about the freeway being backed up is true but if you lived in the Tri-Cities the odds are you would never take the freeway into Vancouver, you woud use the Barnet Hwy/Hastings route.

Our normal commuting time either direction during rush hour is 3/4 hour. Less than 1/2 an hour at other times. You also have the option of the West Coast Express if you don't need a car for work, which could save you time and money (although the schedule is not as flexible as those in the UK, the trains are much cleaner and nicer).

North Van is nice but Port Moody offers a lot of the same conveniences with more freedom to do other things. We're far enough away from the City (Vancouver) that our weekends always feel like weekends. And when we do want to go into Vancouver we're not that far away. If you want any more help let us know. Kelly absolutely loves the area and even when we've visited friends in North Van she said there's no comparison.

One other thing about North Van is you're a slave to the bridges.

Re: Coquitlam Anyone
 

If you are already in the Lower Mainland , the cheapest way to check out
the Tri Cities is to use the $8.00 all day transit pass and use the buses
there to take you all over the residential areas along the transit routes.
The pass is good for the day, you could ride the sky train and travel all
over Greater Vancouver at that price. Go during week days ,the services
are faster and you could cover alot of places. BC transit website has all
the info.

You could try driving during rush hours and see whether you could tolerate
the traffics and see for yourself which highway suits you better.

Good luck with your house search.
Yoong

Re: Coquitlam Anyone
 

I lived in PoCo for six years. Yuk. I was singularly unimpressed with the schools and in fact ended up bussing my kids out to Maple Ridge to get any semblance of an education. I really didn't like Coquitlam either, but some people do, as evidenced by the posts above. West Coast Express is a plus, activities for kids are no better or worse than anywhere else. I used to commute to Vancouver every day, it wasn't very long to Waterfront on the train from PoCo and about 40 mins by car, if I left early enough.

Re: Coquitlam Anyone
 

What did you particularly dislike about schools there, if I may ask?

Re: Coquitlam Anyone
 

I've never lived in PoCo but did work there for some years. As with any town, here and in the UK - there are good and not so good parts. You have to find out for yourself and do a recce and get connected with someone in the area and/or a good realtor. Don't listen to negative comments, make up your own mind. My son completed his Grade 12 at one of the PoCo high schools - after going through the school system elsewhere - because they offered the semester system, and I was quite impressed with the schooling. However, that's the only school in PoCo that we had experience of. Geographically, I'd prefer PoCo over North Van and much easier access to everywhere else.

Re: Coquitlam Anyone
 

I also think this may be true - better to buyer smaller in a good area, than a house with acres in somewhere cheaper & compromise on schools & facilities.

However, watching the other thread on basements - we bought a house with a superbly equipped basement (1/3 of the house) which we rent out to students or professionals. They pay half the mortgage for us. We claim tax relief on 1/3 of the mortgage interest and claim all their expenses as non-taxable.... trying not to make too much profit to be taxed on! (Many don't even declare the income & very few suites are registered and official)

The mortgage lender will also take the rent into account as your income, so would lend you more against a house. When we looked for affordable houses the difference was $100K between houses with basement & without.

We see it partly as a business investment, and 3 years on we can see the time approaching when we can actually take the space over ourselves as the family grows.

We interview tenants meticulously & there is huge competition for good rental accomodation locally.

There are many students at Capilano College or young professionals commuting to downtown from N.Shore on the seabus for this to work. Lower Lonsdale may be well worth a look.
Helen

Re: Coquitlam Anyone
 

Thanks Helen, thats extremely helpful. We had considered this as an option, but have yet to look into it thoroughly. I didn't realised the tax breaks were as attractive as that. Our main reason for looking elsewhere is that our Canadian dream didn't involve a mortgage, and whilst your idea does make good sense, it does involve quite a big step away from our desired position. It does however give us food for thought.

Re: Coquitlam Anyone
 

As well as mortgage interest, we also claim tax free 1/3 of advertising, maintenance & repairs, insurance, property taxes (huge), accounting fees, TV costs, utilities.

I you borrow an extra $100K & repay $500/600 per month you can easily make more than that in rent, hence you could invest in a bigger house or better area.

Of course the difficulty is finding the right house with separate entrances, well insulated to reduce noise, with/without washer etc. etc.

We barely see or hear our tenants.
Helen

Re: Coquitlam Anyone
 

Creative advice by Helen. As long as you keep all receipts , clear
documentation on the income and expenses ,bank statements, etc.
you will be fine ,just in case the taxman wants to audit.
Be knowledgeable on tenants and landlords rights in BC.
The local libraries have books on the above subjects.

I use my home equity loan to invest in dividend producing stocks,
oil and gas and real estate income trusts to get monthly income.
Tax breaks and fun trading online but time consuming though.

Canadian dream is achievable.

Good luck,
Yoong

Re: Coquitlam Anyone
 

No creativity involved, accountants are cheap.
The rules are also well documented. Our area is in great need of rental accomodation for students. The city recognises the need for this service.
http://www.rto.gov.bc.ca/

I like your money making ideas!
H

Re: Coquitlam Anyone
 

I learned from the retirees,asked them about their portfolios and they
were kind enough to tell me. Did more research and read business mags
about dividends stocks and royalty trusts. I have been doing it for 11 years.
No brainer, buy more during market corrections , just like shopping on marked down sales on good companies.
Yoong