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Are condos a reasonably affordable alternative in Vancouver BC - Parkers Legacy

Are condos a reasonably affordable alternative in Vancouver BC

As with any other real estate purchase it totally depends first, on what quality and size of condo you’re looking for and second, third and fourth – location, location, location.If you’re looking for a studio unit of perhaps 400–500 sq ft you could probably purchase a decent one in a reasonably good quality but older building for as little as $150,000CAD in the eastern suburbs or Surrey and Langley.In Yaletown, Coal Harbour or Oakridge/Kerrisdale- probably the most desirable areas – the same small studio suite would run you a minimum of $500,000CAD to well over a Million depending on the quality and amenities of the building.

One bedroom suites of around 600–750 sq ft would probably run close to twice or more that of studios while two bedroom suites would add about 50% to that price and two bedroom and den, (up to 1,100 sq ft), would be up to twice the cost of a one bedroom.Townhouses, (attached units with street access) are again much more than condos within Apartment buildings and would start at $500,000 for one over 20 years old in the eastern suburbs to multi millions in Yaletown.Penthouses – fahget about it – up to $60 Million in Coal Harbour and close to that in Yaletown.

Yes, pardon me for being harsh, but moving to Canada is not like checking into a hotel.As an American, under NAFTA you have the ability to get work visas easier than others.But to move permanently, it is a longer process and if you don’t have in demand job skills, a difficult one.

Condos are an option, as is living in the suburbs.Prices are dropping as the tax on foreign investors hits (which might apply to you by the way).Try realtor.ca, put in your price range and go window shop.

Know that traffic is an issue, if you have to cross a bridge for work you will take longer to get there.Google maps can estimate drive times.