Weekend conversations with my friends inevitably fall on one subject: real estate. The sentiment is always the same: 'not optimistic'. The unrelenting rhetoric splashed across local and national media forces the issue top of mind. The result is a lot of uncertainty about what the future looks like. Families, singles and couples at all levels are feeling the pinch. Personally, as a Millennial Vancouverite juggling student loan repayments and a host of living expenses in the face of (multi) million dollar teardowns I can't help wondering, "How far do salaries and down payments stretch in other cities?"
I asked realtors Jen Murphy and Tracey Ledlin from JenandTracey.com to weigh in on what prospective buyers could purchase at varying price points across British Columbia. They offered these examples to provide a little perspective. You be the judge: does this prove or dispel the perception of how crazy the Lower Mainland home market really is?
What you can buy in BC for $250,000
Sold while we were putting this article together!
Location: 105-1312 Beach Drive, Oak Bay, BC V8S 2N5
Size: 521 sq ft
Description: Welcome to the Anchorage on Beach Drive with Ocean Views. Completely updated pied- -terre or studio opposite Oak Bay Marina (great sushi and a fine dining restaurant, plus a cafe) with walking distance to Oak Bay Village, Willows Beach, shops and services. Beautifully updated condo to create an open concept with built in murphy bed, fireplace, hardwood floors, granite countertops, stainless steel appliances and a built in bar.
Monthly maintenance fees: $161
Listing agent: Emma. Dixon-Will, 778-882-list (5478)
Location: 6976 Pinot place (81A Street), BC, V0H 1T0
Size: 1,870 sq ft
Description: New, modern styling, soothing neutral palette, bright, open; are these on your wish list? This home was built by Alves Bros Contracting and offers 3400sf of living including 3 bedrooms, 3 bathrooms, central air, HRV system, mountain views, covered patio, new landscaping, double attached garage and an open kitchen with a large island, granite counters, gas stove and a pantry. The Master suite includes a 70sf walk-in closet and a 5pc en-suite with a walk in tile shower, soaker tub and his and hers sinks. H/E finishings throughout including tile, carpet, engineered hardwood, light fixtures, a gas fireplace with a firebed of crystals and this home has been wired for solar. The lower level of this home is framed and waiting for your finishing design.
Listing agent: John DiBernardo, (866) 973-7916
Location: 207 2468 E Broadway Avenue, Vancouver V5M 4T9
Size: 860 sq ft
Description: Gardenia Villa located in the heart of East Vancouver! There is easy access to the Skytrain, The Art Institute of Vancouver, VCC, Van Tech Secondary, John Hendry Park & more! This spacious 2 bedroom, 2 bathroom condo is a quiet East facing unit overlooking the inner courtyard. It has a spacious layout with a good sized kitchen. Laminate flooring throughout, bright & spacious living/dining area, large master suite with ensuite bathroom. 1 parking included.
Monthly maintenance fees: $330
Listing agent: James Garbutt, 604-315-3300
What you can buy in BC for $500,000
Type: Condo (penthouse)
Location: 507-770 Fisgard Street, Victoria, BC V8W 0B8
Size: 1,109 sq ft
Description: You've found a home! Stunning 2 bedroom plus den penthouse level suite in The Hudson! Experience the magnificent transformation of the historic Hudson Bay building into modern urban residences. In the heart of Downtown Victoria (walk score of 99!), this spacious 1 level unit offers dark oak hardwood floors, geothermal heating/cooling, large private deck, 2 bathrooms including luxurious ensuite. Impressive kitchen w/ top quality Miele appliances (wine cooler and built in coffee machine too!), & quartz counters. Secure u/g parking and separate storage. Enjoy The Hudson's expansive 14,000 sq ft ROOF TOP PATIO with city, inner harbour & ocean views; a must see; nothing compares in Victoria! Photos from a similar suite, not this unit.
Monthly maintenance fees: unkown
Listing agent: John Byrne, 250-818-7362
Credit: Angell Hasman (Malcolm Hasman)
Location: 803-1480 Howe Street, Vancouver, BC, V6C 2T4
Size: 517 sq ft (364 indoor, 153 outdoor)
Description: Own a piece of history at the Vancouver House by Westbank. Designed by Bjarke Ingels, it is worlds 1st Lees Platinum residential tower. Consists of mixed residential and commercial along with grand public art display under the Granville Street Bridge. Features 5 star concierge services, Miele appliances, both shower and tub in bath, A/C, HRV. advanced security, 5 high speed elevators, and 4 BMW's car share program. Truly an exceptional high rise that will change the skyline of Vancouver. 364 sq.ft. indoor living with a massive 153 sq.ft. outdoor living space facing SW views.
Monthly maintenance fees: unknown
Listing agent: Daniel Tan, 778-998-8693
Sold while we were putting this article together!
Location: 9256 Holdner Road, Prince George, BC, V2K 5T6
Size: 3,782 sq ft
Description: Large open plan with unique layout. Lots of large bedrooms & 3 1/2 bathrooms so this home is made for the growing family. The 'chief cook' will love the kitchen. Very large open living room with floor to ceiling fireplace. The garage is the man's dream shop. Also, lots of room to build a shop out back or store your "toys". Quick possession possible.
Price: Listed at $499,000 - recently sold at $439,000
Listing agent: Ken Goss, 250-565-7653
What you can buy in BC for $1 Million
Location: 5415 Lookout Ridge Place, Sun Peaks, BC V0E 5N0
Size: 3,004 sq ft
Description: The 2012 PNE prize home, designed by Jillian Harris, is at its final destination on a tranquil ski-in, ski-out site at 'Lookout Ridge', one of Sun Peaks' newest residential developments. With forest and mountain views, next to a wide array of downhill and cross country ski trails and the hiking, biking, sledding, and fishing mecca that is BC's interior region, you can enjoy four season recreation at your doorstep within this charming alpine village along with the very best in design and luxurious comfort. Featuring three fireplaces, plate glass walk-in wine vault, spacious chef's kitchen with top notch Jenn-Aire appliances, vaulted ceilings, show stopping master suite, custom bunk room, sauna, sports room, hot tub, and double garage.
Listing agent: Liz Forster, 250-682-2289
Location: 1711 Harding Street, Summerland, BC V0H 1Z9
Size: 2,800 sq ft
Description: Luxury home on beautifully landscaped .35 acre lot. Extensive upgrades, skylights, solid wood doors, tiled flooring with radiant-heat, and stunning open-plan kitchen. Large master suite features two walk-in closets and 5-piece ensuite, with direct access to the covered patio and swimming pool. The completely private outdoor living area is perfect for the Okanagan lifestyle, with the beach, park, tennis and Elementary school just a short walk away.
Listing agent: Kirk Chamberlain, 778-476-7778
Location: 706-8 Smithe Mews, Vancouver, BC, V6B 0A5
Size: 1,048 sq ft
Description: Welcome to Flagship! Luxurious 1048 sq ft, 2 bedroom with views in 3 directions overlooking the boats on False Creek and Cooper's Park. Top of the line finishes including Miele Viking & Sub Zero appliances, quartz counter tops deluxe kitchen cabinetry, hardwood floors, gas fireplace and 2 outdoor balconies. Fantastic amenities in "Esprit City Club" including indoor pool, gym, bowling alley, sauna & steam room, party rooms, theatre room & ocean kayaks. Secure building with 24-hour concierge/security.
Monthly maintenance fees: $462
Listing agent: Michael Uy, 604-780-6468
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