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WhipMaster
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Re: why condos aren't good investments

Thu Apr 16, 2015 9:19 am

You could buy them to give away..... not so good. :D
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Geyser
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Re: why condos aren't good investments

Thu Apr 16, 2015 10:43 am

Geyser:
Exactly the same concerns are expressed by people whose SFHs are located close to cellular towers or high voltage hydro towers. It's not just a condo issue but I'm still looking for all the corpses. Where are they?
geyser, the point is if you own a condo some of your fellow owners may decide its a great idea to put in one of these things, and you have no choice if the vote is sufficient to carry the motion. This is just one of many an examples of infringement to quiet enjoyment of the property that a condo owner should consider prior to the purchase. It's a huge negative. :D
It's unlikely that 75% of all owners would vote in favour of cellular towers unless they were mostly non-resident. Buying into a building with a large number of rental suites can be as bad as buying into a street of SFHs with a large number of basement suite rentals, generally not the best choice.

It's true that wether you live in a condo or a SFH, you can get unlucky and end up with anti-social neighbours who can impact negatively on your life. Fortunately for condo owners there are standard bylaws which provide numerous remedies which are not available to SFH dwellers.

If cellular towers are your personal phobia you can easily choose a condo building which has no potential for such towers, similarly you can pick a house which is not adjacent to high voltage hydro towers or a hydro right of way which might eventually be home to such towers.

I've owned and lived in apartment condos, detached, duplex and townhouses. Trust me, they all have their advantages and disadvantages and they all involve some sort of compromise. I would advise potential buyers to think very carefully about the differences in these various living arrangements and choose whichever one best suits your own lifestyle needs.

From my own experience, no specific type of housing is ideal for everybody. If you are encumbered with pets and/or children, or have some other reason for needing two or three thousand square feet without paying multiple millions, then a slanty old fixer upper in the wrong end of town might be your best bet.

Conversely, if cost per square foot is not your main priority and convenience, lifestyle, views, and security are top of your list, you would probably prefer to live in a very centrally located luxury condo with a large private terrace, a 24 hr concierge and surrounded by high-end shopping, the best restaurants, the symphony, art galleries, theatres, parks and beaches.

Those are two very different lifestyles at very different price points and not everybody can afford the latter. For many late arrivals at the current realestate party it is clear that the investment potential for the patch of poorly located scrub grass often trumps all the lifestyle sacrifices. That's okay, if we all wanted the same thing, life would be miserable. :D
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
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WhipMaster
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Re: why condos aren't good investments

Thu Apr 16, 2015 11:41 am

nothing hypothetical here Geyser, they actually just did! 75% voted for it. It's a done deal and it's going up. hahaha.... yes, my buddies condo compartment is in one of the "hoity toity-est" areas of the city..... a gorgeous view too! can you say Coal Harbour? hahahaha....and those dummies in that strata sold out for a measeley $50,000 up front a few measeley grand per year!?!? :mrgreen:

So if you had bought a suite in there figuring you had a cool place to live think again, not only do you have a potential health hazard on top of the building, it also smells like poo in the elevator and the basement. And we're talking swanky, swanky, too. Even the Conceirge holds his nose. :lol:
Hoo~Cudda~Not~Nod~ed????? :-)
 
Geyser
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Re: why condos aren't good investments

Thu Apr 16, 2015 2:57 pm

nothing hypothetical here Geyser, they actually just did! 75% voted for it. It's a done deal and it's going up. hahaha.... yes, my buddies condo compartment is in one of the "hoity toity-est" areas of the city..... a gorgeous view too! can you say Coal Harbour? hahahaha....and those dummies in that strata sold out for a measeley $50,000 up front a few measeley grand per year!?!? :mrgreen:

So if you had bought a suite in there figuring you had a cool place to live think again, not only do you have a potential health hazard on top of the building, it also smells like poo in the elevator and the basement. And we're talking swanky, swanky, too. Even the Conceirge holds his nose. :lol:
Yes, any realestate transaction can carry risk. I wonder how many SFH owners were upset when a Skytrain track was erected next to their homes? Crap happens.

BTW, you might want to check out this site:

http://www.ertyu.org/steven_nikkel/cancellsites.html

I was surprised to discover that cellular towers are ubiquitous, we are all constantly bathed in microwaves from these towers, even in the SFH parts of town. Often people don't know they are close to these things because they are disguised as trees or hidden inside church spires or other rooftop structures.

Also, if you are worried about radiation from cellular towers you be very careful to avoid being near anybody using a cellular phone, apparently you will get much, much more RF exposure from somebody sitting next to you using their phone than you would get if you lived on the top floor of a building with a cellular tower on the roof. Scary eh? :lol:


The amount of exposure from living near a cell phone tower is typically many times lower than the exposure from using a cell phone.

The US Federal Communications Commission (FCC) has said this about cell phone towers near homes or schools:

“Radiofrequency emissions from antennas used for cellular and PCS [personal communications service] transmissions result in exposure levels on the ground that are typically thousands of times below safety limits. These safety limits were adopted by the FCC based on the recommendations of expert organizations and endorsed by agencies of the Federal Government responsible for health and safety. Therefore, there is no reason to believe that such towers could constitute a potential health hazard to nearby residents or students.”

he level of RF energy inside buildings where a base station is mounted is typically much lower than the level outside, depending on the construction materials of the building. Wood or cement block reduces the exposure level of RF radiation by a factor of about 10. The energy level behind an antenna is hundreds to thousands of times lower than in front. Therefore, if an antenna is mounted on the side of a building, the exposure level in the room directly behind the wall is typically well below the recommended exposure limits.

One study looked for signs of DNA and cell damage in blood cells as a possible indicator of cancer-causing potential. They found that the damage was no worse in people who lived near a cell phone tower as compared with those didn’t.
It looks like those residents did their research before they voted for the tower. It's a pity their building isn't well run though, stinky elevators are easily avoided by making sure the elevator extraction fans are working, it appears that in this case they are not. The other possibility is that the fans are insufficiently powerful enough to change the air every minute, or perhaps there is something stinky in the elevator pit.

Either way, it's a problem which can be easily fixed, certainly much more easily than persuading the violent sociopath in the house next door to stop leaving his uncovered rotting garbage adjacent to your open windows. :D
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
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WhipMaster
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Re: why condos aren't good investments

Thu Apr 16, 2015 3:56 pm

hahahaha..... many people who had property adjacent to a skytrain became rich over night. And if their house wasn't in the assembly, the location became close to mass transit. Awesome. :lol:

Scinetists???? Good one Geyser. I wonder if those were the same "scientists" that did the same study spouting man made C-Lie-mate Change? :lol:

Or the same "scientists" in the U.S. that say that GMO food is perfectly safe to eat? :lol: ...mmmm..yum!

....hahahahaha.... good one!

Meanwhile, those poor owners in my buddies building have cheapened their building value all because some strata tyranny... :D
Hoo~Cudda~Not~Nod~ed????? :-)
 
eyesthebye2
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Re: why condos aren't good investments

Thu Apr 16, 2015 4:35 pm

agree....somewhat. They aren't ALWAYS terrible investments.
If you buy one and consider it an investment in yourself. It's a place to live that provides for some comfort and independence.
I just don't think they're a good financial investment - unless you buy one to rent out and let someone shoulder the payments for you.
So if you buy it to live in, its a good investment. And if you buy it to rent it out, its a good investment. But other than that, they're not good investments? What are the other scenario's for condo ownership that you are referring to?
not what I said pal.
It's not a good FINANCIAL investment to live in one and pay your own mortgage.
When you factor in the interest payments, strata fees, taxes - the gain on a condo the past 5 years is not a gain at all, it's a loss.
Plenty of condos that you can rent for much less than a mortgage if you aren't needing to secure a residence for your family.
If I'm a single guy or a childless couple there's no way I buy a damn thing in Vancouver
 
Geyser
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Re: why condos aren't good investments

Thu Apr 16, 2015 5:57 pm

hahahaha..... many people who had property adjacent to a skytrain became rich over night. And if their house wasn't in the assembly, the location became close to mass transit. Awesome. :lol:

Scinetists???? Good one Geyser. I wonder if those were the same "scientists" that did the same study spouting man made C-Lie-mate Change? :lol:

Or the same "scientists" in the U.S. that say that GMO food is perfectly safe to eat? :lol: ...mmmm..yum!

....hahahahaha.... good one!

Meanwhile, those poor owners in my buddies building have cheapened their building value all because some strata tyranny... :D
Just focus on the fact that a cellular tower has a short range transmitter which transmits at about the same power level as your cell phone. If you are comfortable holding a cell phone next to your head you should be even more comfortable sitting under a concrete roof several meters below the tower.

The tower transmitters are low power because in city centres there are many of them required to handle the traffic, hence the "cell" (area of transmission) is small compared to the power transmitted from a suburban cell tower which will need to serve a much larger area. Hence, your exposure in the burbs can be a lot greater if you are near one of those more powerful transmitters, but it's still less than using your own cell phone. :D
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
rofina
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Re: why condos aren't good investments

Thu Apr 16, 2015 7:15 pm

agree....somewhat. They aren't ALWAYS terrible investments.
If you buy one and consider it an investment in yourself. It's a place to live that provides for some comfort and independence.
I just don't think they're a good financial investment - unless you buy one to rent out and let someone shoulder the payments for you.
So if you buy it to live in, its a good investment. And if you buy it to rent it out, its a good investment. But other than that, they're not good investments? What are the other scenario's for condo ownership that you are referring to?
not what I said pal.
It's not a good FINANCIAL investment to live in one and pay your own mortgage.
When you factor in the interest payments, strata fees, taxes - the gain on a condo the past 5 years is not a gain at all, it's a loss.
Plenty of condos that you can rent for much less than a mortgage if you aren't needing to secure a residence for your family.
If I'm a single guy or a childless couple there's no way I buy a damn thing in Vancouver
Eyes, you have a strange view on things.

Its like you know there is so much wrong here, but you rather trumpet your house being million+, the social side effects be damned.

For someone who claims to have worked in mental health, I'm sure you know that the effect of high housing prices go far beyond just a big number.

Is this the future city you are excited to leave behind for your kids?
 
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WhipMaster
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Re: why condos aren't good investments

Thu Apr 16, 2015 7:25 pm

Geyser:
Just focus on the fact that a cellular tower has a short range transmitter which transmits at about the same power level as your cell phone. If you are comfortable holding a cell phone next to your head you should be even more comfortable sitting under a concrete roof several meters below the tower.
....those other "scientists" swore up and down that smoking cigarettes did not cause cancer either. :D

Rofina:
Is this the future city you are excited to leave behind for your kids?
....well then maybe you have to move. I hear that the prices in Hope, BC are quite inexpensive. Boston Bar is even cheaper, etc. This city is not for everyone. We tried to dun' tell y'all. :lol:

I would move to the Island in a second if I was young and could not afford to live in the city. :D
Hoo~Cudda~Not~Nod~ed????? :-)
 
eyesthebye2
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Re: why condos aren't good investments

Fri Apr 17, 2015 7:09 am

"rofina"

Its like you know there is so much wrong here, but you rather trumpet your house being million+, the social side effects be damned.
I don't see it as a "right" or "wrong" issue. It is what it is.
If I were in the market to buy a property I would roll up my sleeves and figure something out - just like I did when I bought my house.
Yes, the circumstances were different then - but the non variable is me...I don't stop until I solve the problem. That might be buying a 1/2 duplex, living a little further out, etc.
Is this the future city you are excited to leave behind for your kids?
That's old school thinking rofina. The new breed give their money to their children when the kids need it, not when they pass away. So the children of Vancouver homeowners will stay in Vancouver because they're thinking like 2015, not 1980.
My kid gets my house when he turns 25. I make him an instant millionaire and my wife and I live in the laneway house.
 
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Warren12
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Re: why condos aren't good investments

Fri Apr 17, 2015 7:20 am

ETB seems to change their story and reasoning every few minutes. We all know you have a SFH in Vancouver and you are the most savvvvvvy investor we all want to be.

With that said, I have a condo that I originally lived in and now rent as a cashflow investment, and it's fantastic.

A SFH makes a better living space, and potentially has better appreciation potential. But you are stuck with it. It will definitely cost more in mortgage payments and interest (hope that's worthwhile for your lifestyle). Renting is a far more difficult and risky proposition, and selling can be really difficult in a moderate market. You have a unique product that somebody may or may not want.

Condos (I'm talking downtown here), rent immediately, sell immediately. They are far more flexible and far less hassle/work as a landlord. I wish I bought more... hard to believe 2008 is already 7 years ago, that would have been the time to expand my slumlord empire. :mrgreen: :mrgreen:
 
eyesthebye2
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Re: why condos aren't good investments

Fri Apr 17, 2015 9:04 am

"Warren12"
ETB seems to change their story and reasoning every few minutes.
never liked condos and have never changed my position on them.
 
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Re: why condos aren't good investments

Fri Apr 17, 2015 9:05 am

Warren!!! How have you been? Nice to see you. :D


Warren:
Condos (I'm talking downtown here), rent immediately, sell immediately. They are far more flexible and far less hassle/work as a landlord. I wish I bought more... hard to believe 2008 is already 7 years ago, that would have been the time to expand my slumlord empire.
Yup, condos have been a great investment for many, and they should continue to be. They will prove in the long run to be far better investments than, cash, the Fawk Market, etc. So buy one, buy two, collect the whole set. :D
Hoo~Cudda~Not~Nod~ed????? :-)
 
eyesthebye2
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Re: why condos aren't good investments

Fri Apr 17, 2015 10:30 am

"Warren12"
With that said, I have a condo that I originally lived in and now rent as a cashflow investment, and it's fantastic
this statement is misleading.
Yes, condos are cashflow positive but still do not cover debt servicing.
A downtown condo 1 bedroom rents for an average of $1700/mo.
The same condo cost is $400K plus stata and taxes.
So the total debt servicing is liely around $2500-2600/month.
A cash negative of $800-900 bucks.
Of course this doesn't take into account the equity that would reduce the debt (mortgage) servicing - but, if condo
appreciation is just 9.5% in the past 5 years then this money was better off in the "fawk market" at 24% gain...in other words, still cashflow negative.
 
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Re: why condos aren't good investments

Fri Apr 17, 2015 10:35 am

Geyser:
Just focus on the fact that a cellular tower has a short range transmitter which transmits at about the same power level as your cell phone. If you are comfortable holding a cell phone next to your head you should be even more comfortable sitting under a concrete roof several meters below the tower.
....those other "scientists" swore up and down that smoking cigarettes did not cause cancer either. :D

forget the scientists, just focus on the fact that a cellular tower has a short range transmitter which transmits at about the same power level as your cell phone. If you are comfortable holding a cell phone next to your head you should be even more comfortable sitting under a concrete roof several meters below the tower. :D
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
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