Attractive Vancouver Condos For $300,000 Or Less Actually Exist

http://www.huffingtonpost.ca/2014/08/29/vancouver-condos_n_5738198.html?utm_hp_ref=vancouver-housing

 

With recent data showing that house prices are still rising in the Vancouver area, you'd be forgiven for thinking that buying a home in the world's third best place to live is impossible.

Vancouver saw an increase of 6.1 per cent in July house prices compared to the year before, according to the Teranet-National Bank house price index.

So even if you're considering the jump from renting to buying, what kind of properties are in your price range?

"Too often people are thinking it’s unaffordable to start off, and I use a number like $300,000. Is there enough available? What am I going to get?" says Phil LeGree, a RE/MAX Realtor based on the North Shore.

There are actually more than 2,000 current condo listings under $300,000 in the Lower Mainland and half feature two bedrooms or more, he says.

"So there’s a lot of opportunity for people to get in. I just don’t think they realize how close it is between the renting and the buying."

As for the condition of these properties?

LeGree toured The Huffington Post B.C. through The Drive 1177, a brand new four-storey building on North Vancouver's Marine Drive. The complex recently sold one bedroom plus den units for as low as $289,900 up to $350,000.

"It’s got a wonderful gym, it’s got outdoor amenities with a BBQ, and a playground and lovely large patios," says LeGree. "So there’s a lot more and a lot nicer places available than you think."

But they don't last for long.

"In the last several months, the market has picked up and we saw a lot of first-time home buyers snapping up lower price point homes," said Steve Sugrim of developer ONNI Group.

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