MrHyperPants

@ this thread still going.

scrubbedexpat091

Housing concerns and housing insecurity is a big issue in many regions of BC, not just town own but to also rent.

Affects a lot of people in a negative way.

scrubbedexpat091

This is what worries me come December, we are on a fixed term with move out clause and have no idea if our rent will increase, we could handle a small one, but if they decide to raise it 100-200 dollars or more, we are so screwed and will have to well, suppose learn to sleep in a tent.....lol


West End tenants cry foul over high rent hikes

scrubbedexpat091

Federal audit takes aim at money-laundering real estate transactions in Vancouver area

scrubbedexpat091

Reasonable rent for this size of unit?

New - 2 bedroom/1 bath Townhouse for rent


They sold for around 318k to 338k based on the signs in the paper before they were built.

I love the layouts.

Shard

It's a shame a third of the building is garage space. Might make sense in Ontario (snow) but not Vancouver. No idea on market rent levels, you're the expert on that aren't you.

BristolUK

Since Kelowna became more of a topic I've paid a bit more attention to prices in BC. Some places look 'reasonable' but then it appears to be a time share for two weeks a year.

This one caught my eye the other day. A boatshed with an apartment above. $110,000


I assume "Moorage is approx. $2000pm" is something you can receive for letting Oink park his boat there rather than something you have to pay yourself.

scrubbedexpat091

Market rents are so insane, very rarely is the rent being asked reasonable, but major shortage of rentals especially in the apartment sector and rental sector in general artificially inflating the rents. It will rent at this price as people from the city have high incomes, its the locals that can't afford housing anymore.

Our place is 850, but no amenities like a dishwasher, and honestly not worth 850 but it is what it is.

BristolUK

Very often you give the impression you could be a Brit. But then you spring a Canadianism on us.

(or is that something Americans say too?)

scrubbedexpat091

I never used that term in the US at all, just started on day, damn Canadian influence...lol


Here is a typical 1 bedroom unit, nice place. If it was 400 less per month, I'd rent it. 850 is our maximum amount, so we are priced out of the rental housing market now.

Beautiful One Bedroom Apartment

can get a bit more in the older condos that are less desirable.

Diamond Head 2 Bdrm, 2 full bath, 2 parking spots Close to shop

BristolUK

Not Vancouver, obviously, but I passed a house here yesterday that was for sale so I looked it up.

The rooms are very small but it's still a house, with garage and there's a big garden. All in a nice area too. $88,500.

Shard

Nice. Maybe time for a new thread, Joy at Moncton's hosuing cost!

not2old

The listing mentions that its 572sq'ft, but I suppose low cost living.

I'm guessing the rental on that would be approx $700/mth?

scrubbedexpat091

Can't get anything in this area for that price. lol

If only one mobility when on disability, but being it's all provincial we are stuck in BC.

scrubbedexpat091

We did talk to Van city today, based on current income and situation we would not qualify for a traditional mortgage which is what the other banks and mortgage brokers have said.

Van City has a mortgage they call spring board that is for low income people living in non-profit housing which we do. Van City provides 20% down payment and mortgage which is based on your current rent.

The initial term is locked in for 10 years, where 80% of the payment goes to the down payment pay off, and 20% goes towards the mortgage, after the 10 years the remaining terms are like other mortgages are as the down payment is paid off.

We are not in a position to utilize this program at the moment, but unless our income goes up substantially this might be the only option for us to own.

But how knows, was worth the time with them to learn more about it.

The house has to be in BC as they don't finance outside of BC.


If you sell in the first 5 years there are substantial penalties, if you sell from year 5 to year 10 there is a 3 month interest penalty, year 10 onward no penalties.