Tuesday, January 11, 2011

$500,000 just doesn't go as far anymore

On the topic of 'Tulip Mania', let's take a quick tour and see what it would take to get into the housing market with a single family home in some Vancouver municipalities.

These are the lowest priced single family detached homes on the market in their respective areas at the start of 2011.

First up is the suburb immediately to the south of Vancouver, the City of Richmond.

The lowest priced single family home in Richmond is this 1 bedroom, 1 bathroom 600 square foot beauty situated on 4026 sq ft at 2931 Smith St. Asking price: $499,000.


Let's wander over to the suburb just east of Vancouver, the City of Burnaby.

The lowest priced single family home in Burnaby at the moment is this dream home at 5983 Marine Dr. with an asking price of $499,900. From the realor's listing:

  • Fantastic Opportunity. At this price, why rent when you can own? This home sits on a 37 X 127 lot close to Metrotown and Bryne Rd. shopping and tons of entertainment. Main floor has a large entertainment size kitchen complete with eating /dining area, three spacious bedrooms and a bright open living room. Basement has its own separate entrance and bathroom making it an ideal mortgage helper. Loads of renovations and updates have been done including roof and hot water tank. Don't miss one of the best priced investments in South Slope.


Now if you think that borders on unlivable, how about this beauty in Vancouver East.

Offered at $449,000 is this house at 1017 Keefer Street. There is no pretense you can actually live it this one. But hey, Gelato! So it's worth the asking price right there alone:

  • One of the oldest character homes in Strathcona,(pre 1900)! The City would love to have it restored. The house is not in liveable condition, RT-3, needs to be taken down to original structure. City would offer incentives eg coach hse, bsmt.Value mainly in the land, buy 'as is where is'. Drive by first! Excellent location, close to schools, downtown, 'The Drive' and the best gelato in town at 'La Casa Gelato'


Finally we come to Vancouver West. Vancouver West is where all the Hot Asian Money is flowing into so regretfully half a mil doesn't get you on the dance card.

For $699,000 this ranks as the lowest price single family house on the market. It is a 2117 sq ft. 5 Bedroom, 3 bathroom palace at 8508 Oak Street (which is essentially the end of Hwy 99 as it enters Vancouver).

And remember... buy now or be priced out forever.


Email: village_whisperer@live.ca

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  1. Thanks, I think I will remain "priced out forever". With choices like that on the market, I think I'd rather rent my nice, comfy condo for the rest of my life than "own" one of those dives! Ugh! Sure, you could join the crowd of your friends who are "homeowners", but you could never have them over to see your wreck of a home.