Re: Vancouver Property Petitition
 

Strata councils are why I dislike condos. They can be worse then any landlord, and some even have move in and move out fee's. If I am going to own, I don't want to deal with a mini-political system and BS politics.

I lived in a strata condo once as a renter, I got a $20 fine because I *gasp* left a glass on a window sill and this was apparently against the rules as nothing was allowed on the window sills, they didn't even allow patio furniture on the patios, wtf is the purpose of having a patio then?

We are in dedicated rentals, so no strata and the landlord is a not for profit community based service provider so they are pretty understanding.

Their madate is to provide rent a certain % below market average, so this year it's 850 which is pretty good as most 1 bedrooms are 1,200+ now.

They also have 60 dedicated BC housing units.

Both types have a wait list, 20 or so for regular apartments, and over 100 for BC Housing units. Average year 2-3 people leave the complex, won't find anything cheaper in town.

Our wait list is nothing compared to Vancouver, last I heard the BC Housing list there was years long with extenstive waits of many years.

Re: Vancouver Property Petitition
 

Oh FFS there are as many different strata councils as there are people.

IMO, stratas with a high level of retirees can be the worst for lame rules, because there are a lot of bored people with time on their hands to be nosey. But closer in, stratas with a higher % of young people will be totally different. Like any purchase, you do your homework. YOu read the strata minutes - they should give a good idea of what that culture of the strata is like.

I've lived in 2 stratas and there were no ridiculous rules about how long a visitor can stay, etc. etc. The second one I lived in was mainly made up of young families - no one had time for that kind of petty bs. We had a property manager and we left them to it.

Strata is FINE, jsut do your homework and ignore the doomers.

Re: Vancouver Property Petitition
 

and allegedy it's easy to find ways around that.

Re: Vancouver Property Petitition
 

Good point.

Re: Vancouver Property Petitition
 

Yes there are, but I still see no value or point in owning a condo. Their values don't go up quick enough if at all, and provide no benefit over renting in my view.

It's the fees I don't like, adding several hundred a month on top of mortgage, may as well rent if you have to live in a condo and have flexibility.

We are priced out of condos as well, but I fail to see how buying one leads to being able to buy a house if the values of condos do not go up.

Whole point of owning is for the land to have space, and to have things you can't have in a condo.

If someone can explain how condos lead to a house and a starting point for a 40 something year old, I am open ears. (we would be early to mid 40's at the earliest if the time ever came.)

I personally stratas and don't want to have to deal with them, you never really know what they will turn into after moving in years down the line.

Mortgage + taxes + starta seems to be higher then just renting the same place if the only estimators are reliably accurate.


If our income ever went up to a level a condo was possible, I'd consider it if it led to a house down the road.

Just don't know if that is feasible as a 40 something with sufficient time to wait out an increase in value of condo to a point it would sell for enough to provide the necessary money needed for a house.

I just don't want to get stuck with a condo I don't want long term and not able to leave because it can't sell for enough.

For us we are looking for a home, not an investment since we would likely be dead before it was even technically ours. Doubtful I'd outlive the mortgage.

Re: Vancouver Property Petitition
 

I don't agree, it's swings and roundabouts. right NOW houses are far more $$ than condos but that won't last forever. There was a point not that long ago that condos were more sought after than detached homes, esp. townhomes. it all depends what the market is after.

you can't assume what's happening now will last forever.

Re: Vancouver Property Petitition
 

I am going by the last 5 years, and real estate agents my wife knows and her mom's experience with her condo which sold for less in 2013 then she bought it for brand new. Even the developers are skipping building new condos, all the new housing development will be townhomes and houses, but 300,000+ for a town home is out of reach as well.

Housing is just to flipping exspensive.

We could never own a house in Vancouver, so not even planning nor considering that, its never going to happen..lol

The tricky part is where in BC can one get affordable houses and a job?

I figure if we update our education a bit, we can probably at most make 20-23 per hour max.

I was talking about the Squamish market, no chance of owning a home in Vancouver region unless way out east, but it's too far from employment opportunities out that far.

The island other then Victoria is probably our best bet.


These are the new developments being built.

http://crumpitwoods.com/

Single family homes on lots.

These townhomes which I actually do like and would buy one if we could, I like the layout and location.

http://targethomes.build/current.html

The developer building the above is also going to build single family homes.

Across from where we live someone else is planning to build town homes on a lot currently hosting a single family home.


I think for this market condos are dead. People moving here want houses and town homes and move here to escape condo living in Vancouver.


Suppose I am put off by owning a condo is lack of time, I wouldn't have 10 or 15 years to wait out the market in the hopes it will go up to a point we could sell for a house.

I'd be pushing 60 by that time frame.

Re: Vancouver Property Petitition
 

I don't think squamish represents the market in the LM.

Re: Vancouver Property Petitition
 

but that is where Jsmth lives, and therefore the market that he knows! As well as the market that he is currently interested in.


Vancouver and the Lower Mainland are strange entities in the whole of BC.

It is very edifying to get out of the Lower Mainland and see how much houses cost in the real world, not the inflated one that this region has become

We've had our house long enough to be mortgage free, and of course the value of it has increased enormously since we bought it in 1972.

We could sell the house and buy 4 in eg, Smithers, or on the North Island, or in Nelson.

We could buy 3 houses in the Halifax region of NS

and all those houses would be much larger than our little 2 bedroom 2 bathroom place.

BUT that pre-supposes that we want to live in those other places.

As we do not, then we will not be selling our house and capitalizing on the money that is tied up in it.

Jsmth is in the same boat, at the moment anyway, of wishing to live where he currently lives.

Re: Vancouver Property Petitition
 

Never said it did, that is where we live so that is the market we have to consider.

Metro Vancouver is never going to be an option so not too concerned about it there.

The city's I like there will never be within reach for us.

Best we can do is Chilliwack or Hope when it comes to the LM and those 2 places are simply too far out.

Re: Vancouver Property Petitition
 

We have to live reasonably close to the border, Kelowona/Kamloops is about as far as we can go, or the island somewhere.

The issue is jobs that pay well enough to own in those places, I'd venture we would end up in the same boat as we are now, low wages for the kinds of jobs we can do.


I am out of idea's for jobs, so I doubt I'll leave the hotel world, but the pay for the most part tops out at what I am currently making. (unless your in management.)

Its just frustrating wages are so low compared to cost of living.

As I get older, I get more worried, I am running low on useful working years and not sure in the future if we could afford rent on just CPP since we will likely have no retirement savings at this rate.


I don't know how much it would sell for, but the house I lived in (with 7 other people in Vancouver) is assesed at 861,000 and its what you could define as a fixer upper, built in 1927, tiny lot, across from PNE on Pender.

840,000 for the land and 21,000 for the building.

Up from 737,000 last year.

I wonder if the lady who owns it and has all the renters needs them so she can pay the taxes...lol

Re: Vancouver Property Petitition
 

scilly, i've been on this board a long time and am well aware of where j wants to live. but this thread isn't JUST about him. It's about Vancouver/LM and even though it might not work for HIM, it could well work for other people.

Re: Vancouver Property Petitition
 

It's just gotten to a point a large amount of people are frustrated as housing just costs too much vs what jobs are paying.

Housing should not be a luxury and in LM that is what it's turning into, including rentals, some people can't even afford rent anymore despite working full-time.

Pretty sad when even full-time workers can't afford rent.

LM doesn't exactly have a lot of decent paying jobs. let alone enough to provide the income needed for housing, even at the average of nearly 70k you likely can't own in Vancouver anymore.

Re: Vancouver Property Petitition
 

Yes it's unaffordable. Millions of Canadians would like to live in the LM because of the climate, scenery and amenities. The reason they don't is that they can get a better job, a better house and a better lifestyle elsewhere. It's a trade off. Try and prioritise what you really want in the ten year's time, a decent house and yard or continuing easy access to the border and Vancouver.

Re: Vancouver Property Petitition
 

I hear you with that - renting is expensive

I'm currently accommodation searching in craigslist for my own place and its a nightmare. I can't believe how many places don't have a stove and/or just a basic kitchenette.