Buying a Vancouver Condo | 7 Mistakes To Avoid (2024)

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Condos in Vancouver are a hot topic.
If you are considering buying real estate in Vancouver…whether it’s your first home, you are moving to Vancouver for the first time or buying as an investment…it’s more than likely going to be a condo.
(if not, be sure to check out my other videos about buying other types of property in Vancouver - • Buying a home in Vanco... )
And while the price point for condos might be lower than for detached houses, you are still looking at spending some very serious money…and you don’t want to make a mistake!
Over my career, I’ve seen and heard about countless mistakes when it comes to owning Vancouver condos. And so I made this video to help you avoid these mistakes, too!
I've packed this video full of critical information that's going to save you from making disastrous mistakes and that will SAVE YOU MONEY!
• Condos For Sale in Van...
• Townhouses For Sale in...
• Houses For Sale in Van...
• Buying a Duplex in Van...
• The Dangers of Buying ...
• Vancouver’s Not for Ev...
• Culture Shocks When Mo...
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/ @livinginvancouver-bc
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www.calendly.com/albrechtgroup
People moving to Vancouver, BC reach out every single day, and I ABSOLUTELY love helping them. Don't hesitate to reach out if you are thinking of moving here because I can help make that transition SO much easier on you!!!
Reach out Day/Nights/Weekends or whenever works for YOU!
Sebastian Albrecht - Realtor
Royal LePage Westside
Call/Text Direct - 604-831-4837
email: sebastian@albrechtgroup.ca
website: www.albrechtgroup.ca
A.E. LePage Realtor of the Year - CANADA - 2019
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Top 10% REBGV 2021 - 9th year
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TimeStamp
00:00 Buying a Vancouver Condo
00:43 #1
03:07 #2
05:14 #3
08:01 #4
09:43 #5
11:33 #6
12:43 #7
14:51 Bonus
17:22 Buying a Condo in Vancouver

Опубликовано:

5 июл 2024

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Комментарии : 47

@LivingInVancouver-BC 13 дней назад

Thanks for watching! I hope that you found this video helpful. :) Call/Text Direct - 604-831-4837 email: sebastian@albrechtgroup.ca Book a call: www.calendly.com/albrechtgroup

@johnnyboyvan 4 дня назад

Another issue is parking stall size. Some are ridiculously small and tight. Imagine a big pickup right against your normal sized 🚗.

@LivingInVancouver-BC 3 дня назад

@johnnyboyvan Yes, you do want to pay attention to both parking and storage locker size (if they come with the unit). Especially in newer construction, these tend to be smaller than they once were and if you have a large vehicle it can be an issue.

@huskavarnaband 13 дней назад

you want to avoid buying anything in vancouver, im a renovator, and every house we open up is built incorrectly or rotting. The vancouver market was a flippers market for the past 20 years, flippers cut corners for maximum profits, when you buy, you have to consider 100-300,000 in repairs needed to the home.

@OrdinaryFilmmaker 13 дней назад

I worry about overly renovated homes and once what they hide.

@KL-xv5gj 13 дней назад

Also it is now bubble! Prices too high to be truly affordable by many. Also lot of expenses after purchased must be factored into!

@OrdinaryFilmmaker 12 дней назад

@@KL-xv5gj Bubbles can last a long time. I feel we are in one in Ontario too... It's just jumping from one bubble to another... I can afford the jump, but something needs to change so everyone can afford a place to live.

@slman8227 12 дней назад

炒房精英準備好被收割了，一齊向他們Salute🫡😎✌️🍾當然這功勞也要歸功於我們我金牌經紀🤝👏✌️😏

@babyjeero123 12 дней назад

@@KL-xv5gj Last time I checked we are not making new land, whats there is there. And there are more people coming. Lol

@KL-xv5gj 3 дня назад

You are right! Buying a house must be wise in the choosing. A property can be an asset or liability depends on one’s discerning selection!

@LivingInVancouver-BC 3 дня назад

@KL-xv5gj 100%!

@gregoryforrest8970 День назад

Another idea with older condos is the insulation in the ceiling, many older condos mine built in 1992 the carpeting and underlayment was the noise barrier between floors, many strata council are approving unit owners to remove that and install cheap laminate flooring, so the person who lives in the unit below gets to hear all the heavy foot traffic above, and if the owner above has a couple of kids the noise never stops, my unit is like this so annoying. You can complain but nothing is done the unit owner above doesn't care if you hear that and won't install area rugs to mitigate any noises. So your unit will be constantly resold to many owners frustrated with this nonsense. Or you get to hire a construction company to remove the drywall from the ceiling and install the highest grade noise insulation available including noise barrier drywall at a cost of $15.000 and up. This isn't fair at all so you have to understand that strata councils don't understand building construction consequences for unit owners when they approve a unit owner to remove the insulation carpeting.

@marcberrenson570 6 дней назад

Excellent advice, as always. A combination of expertise and common sense. Thanks

@LivingInVancouver-BC 3 дня назад

Thanks @marcberrenson570! That's high praise and I appreciate it!

@melissalopes6492 9 дней назад

Great video!

@LivingInVancouver-BC 8 дней назад

Thanks, @melissalopes6492! :)

@ivorytelecaster 13 дней назад

Another great video. The importance of finding a quality building can’t be overstated. Not to mention, how a well maintained building also reflects on how proactive and competent the strata is

@LivingInVancouver-BC 8 дней назад

Thank you @ivorytelecaster! Agreed 100%! When helping clients buy into a strata, I feel this is the most important part of my job (guiding clients to solid, well-maintained and managed buildings) and my greatest responsibility.

@ivorytelecaster 8 дней назад

@@LivingInVancouver-BC this was one of the most shocking things for me when we started looking. One building in particular (you may know which one I'm talking about from the description) not only had general disrepair all around the common areas but once we dug in deeper we found out that all the windows had to be replaced sometime within the next 5 years. So, not only would you need to be ready to drop a chunk of extra money but also, be prepared to deal with an unorganized strata. No thanks!

@LivingInVancouver-BC 2 дня назад

@ivorytelecaster Yeah, it's critical to do your due diligence and understand what you are getting yourself into!

@gregoryforrest8970 6 дней назад

Well if someone owns a property in a area where there is a sky train, or highway for sure if they wait it out sooner or later the area will be purchased by a major developer, so you could really cash in here$

@LivingInVancouver-BC 3 дня назад

@gregoryforrest8970 It's definitely a possibility.

@PacRic-gs4of 13 дней назад

I would never want to buy into a development that has high rises. High rises need so much maintenance. And it gets more expensive the older they get. So if you're planning on buying a new one which you are going to sell in a few years that's fine. But just remember the really tall tower is it just takes the tiniest hole in order for them to eat because there are all kinds of pretty major forces that it has to withstand..

@LivingInVancouver-BC 8 дней назад

@PacRic-gs4of There really are pros and cons to every type of condo construction. Sure, some issues can be more complicated with a massive high-rise...but at least the costs are spread over more units. A low-rise can be simpler, but some costs can be considerably higher (eg the roof or the parkade membrane) and on top of that, you have fewer units to spread the cost around.

@nikkian9254 4 дня назад

Thanks for sharing this! 👌 Curious what would be a good decent land size for a condo for consideration?

@LivingInVancouver-BC 3 дня назад

@nikkian9254 I wouldn't say that there's a specific size of land to target...it's more about the location of that land (the future growth and development potential) AND that the land it sits upon is under-built (that means it will more than likely be 40+ years old rather than anything built in the last 20 years or so).

@nikkian9254 3 дня назад

@@LivingInVancouver-BC Thanks for the explanation! 🙏🙏 Could you clarify the 40+ years old vs 20 years example? (I understand under built to mean that the land has potential for growth/increased value?)

@LivingInVancouver-BC 2 дня назад

@nikkian9254 Buildings built in the last 20 years are most likely not to be under-built. They'll typically be tall towers on smaller pieces of land. As opposed to buildings built 40+ years ago that will more likely be lower and spread over a larger piece of land...plus, those older buildings may be built in areas of higher density/closer to transit/commercial centers that are feeling pressure to increase density further. If a property is not under-built then there's no benefit to the developer to redevelop (eg it's already built to the maximum - or close to - the maximum allowable under current zoning).

@nikkian9254 6 часов назад

@@LivingInVancouver-BC That makes sense!! thanks for helping me understand ☺️🙏

@OrdinaryFilmmaker 13 дней назад

Location, location, location. I like to swim - it helps my back, but if there is a close by public pool, then that's good enough or me and keeps my strata fees down. 1300 sqr ft or more is required because my son will likely live with us into retirement, and I need an area to have for my channel and make it sound proof for shooting 24x7. I understand 3 bedroom condos are rare, but how likely am I to see a condo north of 1200 str feet?

@tlcnorman2819 13 дней назад

I see a lot of 1000+ sq foot condos in New Westminster. Older buildings, but worth looking into.

@jasonmok4110 13 дней назад

There are some 3dr in metro town cost around $1.3m

@OrdinaryFilmmaker 13 дней назад

@@tlcnorman2819 Thanks. Our primary target is grey point and kits due to close access to the ocean, transit lines and shop access. I'd go further out, but my wife wants the city access. We just came back from a visit and grey point continues to be at the top of our list.

@LivingInVancouver-BC 3 дня назад

@OrdinaryFilmmaker There are 1,200 sf condos in Point Grey and Kits...but the question will be whether or not they're within budget. Space costs money. :)

@AlexSuperTramp- 4 дня назад

Interesting, didnt know condo owners could also own land. That's what's also troubled me about condos, because you're spot on about land. So if you don't get land, you're buying a depreciating asset. Yikes!

@LivingInVancouver-BC 3 дня назад

@AlexSuperTramp- Yes, freehold strata ownership will always include a portion of the land ownership...just a (typically) much smaller piece than if you purchased a townhouse, 1/2 duplex or a house.

@user-ge6wyJacqueline 13 дней назад

is it cheaper to get food from the super market instead of eating out all the time

@LivingInVancouver-BC 11 дней назад

@user-ge6wyJacqueline It'll depend on what you eat and where you shop...but generally, yes eating out will cost you more here than buying groceries and making your own food.