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Jul 05, 05
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So, I am thinking of buying a house? got any tips?
I am thinking about investing my money into a house. I am looking to do this in the next 6 months. gotta shop around
anyone got some tips for me, where to look? good place to get a morgage? pool or no pool? lol 
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Jul 05, 05
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Make sure that you have some extra $$ save then you planned cuz there are incidentals that are not really in the scope till they arrive... such as lawyer fees, renos, and other stuff that just kinda pops up.
Generally as a rule of thumb the closer you get to the water the more expensive DO IT, there is no reason to pay someone elses mortgage If you need a realtor I can reffer to you someone that dida pretty damn good job for me :D - ë Last edited by Haze; Jul 05, 05 at 06:00 AM.
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Jul 05, 05
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Just went through this... bought a house on Main around 30th. :)
Things that bit us: - 'closing fees'. An extra $10k we didn't budget for. - property taxes, add another $2k - CHECK THE ROOF, another $10k. - 'transfer fees' (city taxes) are a bitch if your house is over $350 or if it's not your first house... if it's under $350k, you're waived if it's your first house. It's worth noting that if you're looking for a real house in Vancouver proper, there is nothing west of Main for under $650,000. Period.
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Jul 05, 05
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for sure always only place bids with subjects attached. only idiots don't.
always go with a mortage broker. they find the best rates hands down. mine is locked for another 8 years at 3.5% nobody can beat that. they tell you how to set it up to get arround transfer fees and everything too. if you need a great agent, msg me. he's on the real estate council of bc too, so he knows way more then the avg guy. and welcome to the club.
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Jul 05, 05
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don't buy a house in vancouver.....
i'm looking to buy, and i've come to the conclusion that it'd be smarter for me to spend my money in calgary or somewhere else like that and rent the fucking mansion that i could get and take the money, than to buy a shitty two bedroom bungalow in van.
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Jul 05, 05
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if she wanted a duplex she could get cheaper. and around here (mt. pleasant) there's some rad "fixer-upper" type houses that you could save alot of money on. ps - if you do do this, kylee, i get a room, or else.
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Jul 05, 05
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you guys are really helpful! i love it
obviously Bevan you get to live there. That is the whole point, take care of my friends! i was thinking, maybe buying a house in abbotsford or the sunshine coast, or on vancouver island, where they are cheaper. Then just renting out the whole place for more then my morgage, so then my morgage is paid and so is my rent on anohter place in vancouver. the only thing is, if i am buying a good damn house, i think i am gonna want to live in it. Everywhere needs a skytrain.
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Jul 05, 05
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it's crazy how everyones looking too buy when houses are at peak price.
either way, i wouldn't get a pool. and there's nothing wrong with buying a 2 bedroom bungalow. if you find something in the lower mainland and you need an inspector and i can refer you one.
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Jul 05, 05
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We're just south of Mount Pleasant - I've lived there for a few years now, which is why we bought in the neighborhood we did. I gotta say tho, after looking at 12 or 14 houses in the area while we were shopping around, the only reason those 'fixer-uppers' are so cheap is because the only thing you can really do to fix them up is demolish them and start building fresh. Some of them might have ten years left in them, while they rapidly fall to pieces, but with the weather and climate in Vancouver, rot, mould and water damage means that 'fixer-upper' really means 'knocker-downer'. We looked at a few places in our pricerange that I wouldn't even consider renting, much less buying... seriously, go see what $400,000-worth of house looks like inside, in your neighborhood. It's mind-boggling... the house we were renting in Mount Pleasant, we got the whole place, seven "bedrooms", for $1600/month. At some points, there were nine people living there! The place is falling apart at the seams... ...and it's for sale, they're asking for a half-million dollars. jesus.
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Jul 05, 05
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it is freaky to see what half a million gets you in some areas of van. i love east van, but would never want to buy there. i opted to buy on the hill (north van). its the best area in the gvrd i'd say. no crack heads, no clubs, no fools. its 15 mins from dt and is central to every single thing in town. half a million gets you a nice house here, easily. i got a 6 bedroom, 3 bathroom, 2700 sq/f place for that. not fuckin bad. i made a suite in the basement (1 bathroom, 3 bedrooms). i get 1100 a month for it. my mortgage is 2000 a month, so it covers obviously more then half. so i'm laughing. if i ever wanted to knock this house down (in maybe 10 years or so), the lots here are almost twice as big as east vancouver lots (even most kits lots), so again, i'm laughing. i looked at houses all over the place. nothing beats the east end areas. its only good people and nice houses too. Last edited by PHUNK; Jul 05, 05 at 08:26 PM.
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Jul 05, 05
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Jul 05, 05
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Avoid variable interest rate mortgages like the plauge.
Smarter to lock into this generational low in interest rates and not be exposed if interest rates rise.
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Jul 05, 05
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just make sure you do all your homework and dont just grab something because of what it appears to be...not everything is as good as it always seems....
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Jul 06, 05
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Ugh it's so bad. When I was working for RE/MAX was when the whole 'leaky condo' thing came into effect. You could buy an apartment downtown (or the burbs, even less) for about 90k. There's an apartment building in perticular I was looking at in Port Moody, you could buy a brand new 2 bedroom apartment for $79k (and these places were super nice) but they had to go through the rainscreen process but it was being paid for competly. Now much much is the EXACT same apartment going for? $139,900.
I'd say, don't buy now, housing prices are reaching the top of the bell curve, give it at least a year. There is NO WAY housing prices (esp downtown) will stay where they are. People who got those great deals 3 years ago are now selling for mad prices, and are getting what they want for them. Wait until that whole thing dies down, you'll get a way better deal. I'm buying a condo downtown in '06. Prices will drop by fall of next year, I can pretty much guarantee that, expect somewhat of a crash. People simply won't pay the amount places are listed for starting very soon.
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Jul 06, 05
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Definitely buy a place. The payments sure do suck but if you can afford it: DO IT. i recently purchased a one bedroom in false creek that i could easily rent for 1200 if i wanted to which would cover my costs. On my latest tax assesment, my property value was up 15,000 more than what i paid for it. As for prices going down anytime soon, i don't think it will happen. especially with the olympics on the horizon.
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