This was just too good not to Re-post.
Anyone in denial of the Viaducts coming down should take some time and watch this.
Thanks to Vancouver is Awesome for pointing this one out. How many of you out there would love to see this added to the Vancouver landscape? I sure would.
Are you on the fence about jumping into the crazy, hot Vancouver market? Second thoughts?
Reasons to get off it.
One of the major downsides of waiting is not being able to afford the property you want in the future. Many of the people who sat on the fence about buying in the Greater Vancouver area can no longer afford the home they wanted. The biggest downfall to waiting is the tens of thousands of dollars they’ve spent on rent. There’s no reason to think that this will change any time soon – so the longer you wait, the further you get left behind, and you’ll end up paying off your landlord’s mortgage for the rest of your life instead of your own. What’s more, rental prices in Vancouver are skyrocketing, with rental prices going through the roof, renting is no longer a cheap or secure option. Keep in mind this is all based on not wanting a long commute and hours spent sitting in traffic.
If you buy a home, even in the event of real estate prices plummeting, with the equity you are creating, with the rates remaining low you could still break even on your housing costs when you consider the amount you would have paid every month in rent. The average housing prices go up in Canada by 5.4% and over time the market will go back up again – it’s only a temporary loss of value and is only a problem if you wish to sell before the value has recovered. Another term for this is flipping your property. (The chances of a major crash in B.C., and especially Vancouver, are low according to all the market indicators and economic forecasts.)
Reasons to stay on the pot.
There is only really one situation where it makes more sense to keep renting, and that is if buying would stretch your finances to the point where you wouldn’t be able to deal with an emergency. Losing your job, an unexpected child, or a medical emergency fall into this category. If that’s the case, and there’s definitely no option for you to buy a home that doesn’t stretch your finances, then you should save what you can and wait until you’re more financially stable, and then buy. Owning a home of your own is very satisfying but there are many extra costs such as maintenance fees, taxes, or unexpected maintenance (this is different from normal maintenance, as in special levies or leaky roof, pipe burst etc.). Stretching yourself too thin can be disastrous.
Everyone has a different financial situation, and if you're not confident in your ability to purchase, go to a mortgage broker to go over your budget to fully understand your situation. Your broker can run different scenarios to show how rates, terms and amortization schedules would impact your monthly payment. With the right information you can make a better decision instead of waiting for a crash that may never come, and joining the doomsday sayers in their quest for validation.
Got this from Inhabitant.com
Sort of...
Original post below.
0BR / 1Ba 250ft2 available jan 09
furnished
cottage/cabin
w/d in unit
no parking
12' x 24' footprint tiny house FOR SALE! Yes, the entire house!
This house was converted from a 1952 workshop / garage. The exterior has striated cedar siding, aluminium roof panels, double glazed windows, spray foamed ceiling, R14 batt wall insulation with vapour barrier.
The interior design has been very well thought out and it is arguably the most comfortable tiny house you can find, there is no sacrifice in any way. The interior space is approximately 250 sq ft. Everything is custom. The loft bed fits a double mattress, under the bed has massive storage, a full slide out closet and the stairs pull out as your dresser. The kitchen feels larger than a full size kitchen and has a Miele cooktop and GE dishwasher. All contents of the house are included: fridge,46" TV, Blomberg washer and dryer, etc.
There is ONE catch. The house is attached to a foundation and will need to be moved using a house raising / moving company and another foundation needs to be built at the new site. I can arrange everything to be done for the move and foundation and setup at the new location. The footprint of the house is about 12' x 24'.
Serious enquiries only.
- do NOT contact me with unsolicited services or offers