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tdma800
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Re: Affordable Detached (>$400K) w/Vancouver Commute

Thu Apr 12, 2012 8:06 am

it doesnt take anywhere close to 45 minutes to ride a skytrain to anywhere unless you take the millenium line the 'wrong' way'
 
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Re: Affordable Detached (>$400K) w/Vancouver Commute

Thu Apr 12, 2012 8:20 am

I think the North Shore offers better value, and safer more family oriented neighbourhoods than Burnaby, and the East Vancouver. You can get a townhome of around 1300 to 1500 sq.ft. for 500 ish. Adera just build a nice modern townhome project called "Seven35" which borders mosquito creek, and it's trail system right up to the Baden Powell trail. Brand new townhomes with huge rooftop decks around 1200 to 1400 sq.ft. for mid 500s. Lynn Valley has older townhomes that are much larger for same price level.
 
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ArthurFonzarelli
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Re: Affordable Detached (>$400K) w/Vancouver Commute

Thu Apr 12, 2012 9:20 am

Kramster - thanks. I'm actually not interested in buying a condo near Lougheed at all. Don't know where those suggestions came from. I said we had considered a SFH or TH in that area but now want a SFH and htose areas are too expensive. Plus we had a look there in about 2007/08 and it's the exact opposite of what we're looking for. A nice quiet rural lifestyle is about what we need now. Plus I rock climb/mountaineer, ski, etc., and want to be closer to those amenities. But SFHs in Squamish are still up YOY and over past 5 years, whereas THs and condos are down.

And we aren't going to rush into a purchase in the next 6 months unless we get a steep discount. My theory is that the inevitable price correction will basically track carrying costs when interest rates adjust. Everyone, EVERYONE I know is maxed-out right now and beyond. Which means about a 20% haircut inside 24 months according to my math (based on ~2% upward rate adjustment). Maybe a little overshoot on the downside for some products - ie condos esp in rural areas and SFHs which had crazy price runups.

ETB - thanks for the suggestion but I don't think we'll go to Ladner/Tsawwassen. That's not our style. And inside the next 12 months I think we'll be able to do a hell of a lot better than those smelly distant burbs at $400-$450K for a SFH. Frankly I think you made a good call buying what you did when you did based on your desire to buy and hold, but I think yours is due for a 20% haircut inside 24 months too... which still puts you ahead I think.
 
kramster
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Re: Affordable Detached (>$400K) w/Vancouver Commute

Thu Apr 12, 2012 1:26 pm

Do you really want your kids to grow up in squamish? People dont want to live in squamish. Don't buy there. Try to find a place in the lower mainland. What about new west or Delta?
Get over yourself.

Virtually everyone I know that doesn't live here says they would if they could find work. I can think of at least 20 people off the top of my head who have specifically told me they are jealous that I do and would if they could. Most of them live in Calgary and others in Vancouver and Whistler. If you like traffic, shopping, bars and the usual rat race bullshit, you're not interested. If you ski, bike, climb and kite for a lifestyle instead of eat, stress, drink and shop then it's a highly desireable place to live. I guess it depends on your values, and the values you want your kids to have. These are not ski and bike bums, they are engineers, brokers, doctors, teachers etc that won't move here to work on minimum wage when they are making good money elsewhere. That is the only thing holding them back, not whether or not the waterfront gets developed, or what anyone else thinks of their address.

Maybe what you meant was that nobody who currently lives here wants anyone else moving here unless they are in it for the mountain lifestyle.

Delta? Seriously? Wow. Good for soccer and roller skating I guess.

But I agree; don't buy here yet. Rent.
 
kramster
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Re: Affordable Detached (>$400K) w/Vancouver Commute

Thu Apr 12, 2012 1:30 pm

it doesnt take anywhere close to 45 minutes to ride a skytrain to anywhere unless you take the millenium line the 'wrong' way'
I'd be interested to know what the average total time would be from door to door for skytrain users. Either walk or drive and park at the station, transfers, walking to end point, possibly adding a bus. Doubt it's less than 1/2 an hour for most people.
 
falsecreek
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Re: Affordable Detached (>$400K) w/Vancouver Commute

Thu Apr 12, 2012 1:58 pm

Ever thought about Walnut Grove? You are 5 minutes from a RapidBus Park and Ride under construction at 202nd st & Hwy #1. Projected 25 minutes or less to the Lougheed Skytrain Station. You would be looking at upper 400's for something decent though.

http://www.pmh1project.com/info-centre/ ... cling.aspx
 
tdma800
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Re: Affordable Detached (>$400K) w/Vancouver Commute

Thu Apr 12, 2012 2:52 pm

Langley is a nice quiet place sure. However what if(besides going to work) you sometimes like to go shopping or do any outdoor activities?
 
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instigator
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Re: Affordable Detached (>$400K) w/Vancouver Commute

Thu Apr 12, 2012 3:18 pm

we go to maple ridge and mission for mountain activities it's quite close to langley
 
curious
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Re: Affordable Detached (>$400K) w/Vancouver Commute

Thu Apr 12, 2012 3:30 pm

I don't think we'll go to Ladner/Tsawwassen. That's not our style. And inside the next 12 months I think we'll be able to do a hell of a lot better than those smelly distant burbs at $400-$450K for a SFH.
There are not SFHs for sale in Ladner and Tsawwassen in your price range.
 
tdma800
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Re: Affordable Detached (>$400K) w/Vancouver Commute

Thu Apr 12, 2012 3:37 pm

I don't think we'll go to Ladner/Tsawwassen. That's not our style. And inside the next 12 months I think we'll be able to do a hell of a lot better than those smelly distant burbs at $400-$450K for a SFH.
There are not SFHs for sale in Ladner and Tsawwassen in your price range.
4662 47A ST, Ladner Elementary, Ladner, $459,900.00
 
curious
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Re: Affordable Detached (>$400K) w/Vancouver Commute

Thu Apr 12, 2012 3:42 pm

tdma, original poster mentioned that his price range is $400-$450K and he wants at LEAST 1,300-1,400 sq ft.
That 2Bd/1Bth bungalow has only 924 sq.ft. and its price is higher than $450K.
 
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semven
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Re: Affordable Detached (>$400K) w/Vancouver Commute

Thu Apr 12, 2012 3:58 pm

South Surrey Grandview beats Walnut Grove hands down.....Not Ladner though
 
franksin
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Re: Affordable Detached (>$400K) w/Vancouver Commute

Thu Apr 12, 2012 4:30 pm

...Answer this, when you're about to die are you going to wish your home was worth more than it is (and you paid more for it)? Or are you going to wish you spent more time in the mountains with your family? One things for sure, your dog will wish you were here. Your kids might end up being ski and bike junkies though, so if you're hoping they'll turn into over weight investment bankers you might be disappointed.
great post kramster.
 
curious
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Re: Affordable Detached (>$400K) w/Vancouver Commute

Thu Apr 12, 2012 4:53 pm

Time ago, Lady Luck expressed her opinion on Squamish. She mentioned that Squamish has the highest child cancer rate in B.C.
"Well there is always the giant lead spill at the Squamish waterfront that will never go away.
It is also one giant alluvial fan, AKA floodplane.
Don't get me started on the unsavory rental market clientel."
"There are the old Nexen lands (chemical plant). The land was cleaned up but that only means the chemicals are about 1.5m below the surface."
 
eyesthebye
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Re: Affordable Detached (>$400K) w/Vancouver Commute

Thu Apr 12, 2012 7:55 pm

Kramster - thanks. I'm actually not interested in buying a condo near Lougheed at all. Don't know where those suggestions came from. I said we had considered a SFH or TH in that area but now want a SFH and htose areas are too expensive. Plus we had a look there in about 2007/08 and it's the exact opposite of what we're looking for. A nice quiet rural lifestyle is about what we need now. Plus I rock climb/mountaineer, ski, etc., and want to be closer to those amenities. But SFHs in Squamish are still up YOY and over past 5 years, whereas THs and condos are down.

And we aren't going to rush into a purchase in the next 6 months unless we get a steep discount. My theory is that the inevitable price correction will basically track carrying costs when interest rates adjust. Everyone, EVERYONE I know is maxed-out right now and beyond. Which means about a 20% haircut inside 24 months according to my math (based on ~2% upward rate adjustment). Maybe a little overshoot on the downside for some products - ie condos esp in rural areas and SFHs which had crazy price runups.

ETB - thanks for the suggestion but I don't think we'll go to Ladner/Tsawwassen. That's not our style. And inside the next 12 months I think we'll be able to do a hell of a lot better than those smelly distant burbs at $400-$450K for a SFH. Frankly I think you made a good call buying what you did when you did based on your desire to buy and hold, but I think yours is due for a 20% haircut inside 24 months too... which still puts you ahead I think.
whatever haircut is in store is OK. I'm not buying or selling so the short term doesn't effect me.

I think you're correct about carrying costs - but detached is a different animal. You'll be competing with some kind of wealth when you enter into that market. I bought at the worst time in 30 years to sell a house and I still had to battle; it was damn near impossible
the cure for higher prices is moving to a destination with lower prices

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