What $1,300,000 gets you in Vancouver

What $1,300,000 gets you in Vancouver

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  1. I lived in North Vancouver for 2 years, at first living in a bachelor/studio apartment I paid 900 dollars a month for, half kitchen, most of the burners on the stove didn’t work and the counter was metal lol so it would all heat up. Eventually I moved into a 2 bedroom in the same building, they told me I couldn’t move in right away but had to leave my old unit so I had to rent a moving truck and a hotel room until the new place was ready, it was 1,500 dollars a month and constantly broken/breaking down. Vancouver itself is gorgeous, easily one of the most beautiful places I have ever lived but my goodness it was expensive.

  2. I work in construction and am in the DC area. These developers/builders value engineer the crap out of pretty much EVERYTHING. They just buy cheap chinese knock off items and still advertise as luxurious and high end. I feel bad for buyers that fall for it. All these newly built apartment buildings are all subject to this strategy..

  3. paging /u/iamkokonutz…

    This is Telus Garden right? I was just visiting Vancouver a month ago for a friend’s bachelor party and stayed in one of these apartments. All my friends thought I was crazy for saying all the finishes looked pretty cheap/like IKEA considering how much money the apartment itself must have been worth.

    On a related note, it seemed like the building was only half occupied. With the amount our AirBnB host was charging us (~$1200 USD per night for a 3bd2ba place on the 46th floor) it probably makes more sense just to use these units for that.

    [View was amazing though, BC is beautiful. Edit to add (shitty amateur phone) pictures of the view](http://imgur.com/a/Q1zxu)

  4. Welcome to the world of construction, this is nothing unique. I am in Canada too and build custom homes ($2 Million +). We were hired by a large developer to assist with deficiencies in a Luxury condo they were building. When i say Luxury the cheapest unit was $1.2 Million and the penthouse went for over $10 Million. They had originally hired me with the intention of just fixing issues here and there, some paint touch ups and light plate installation, just the little things so i assigned a couple guys to the project as they requested. It has been over 2 years since we started that project and there were points where we had up to 20+ employees fixing multiple issues in all units. Examples are: poor flooring installation and products, awful paint, pealing drywall, improper installation of appliances to major ones like fountain leaking into unit, leaking pipes and negatively sloped plumbing. It amazes me how things like this happen, i know very well the status quo is to do everything as cheap as possible to maximize value but at what point is something too cheap? I always warn people when buying new homes because quality is not a priority anymore for many builders and its a shame. I loose so many jobs to the lowest bidder it really makes me wonder what the customers actually value as well. I am not sure what the solution is but as margins only get tighter you are only going to start seeing this more and more.

  5. The cost of living here in Vancouver is in the news at least once every two weeks now. The irony is, it’s constantly being scrutinized and talked about, yet nothing has actually been done to reel it in and get it manageable.

    Crappy night-life, over priced everything, hordes of foreigners everywhere, an embarrassing sports team and of course stuck up, and cynical people.

    We got nice scenery though!

  6. Is that “short” he refers to in the video really a short-circuit? I think it’s more like arcing due to a poor contact. A real short circuit would either fry some electrical component or trigger the circuit breaker AFAIK

  7. with the light switch that he said was shorted, it’s actually not. it’s caused by overloading the switch or inductive linkage. it’s unlikely the switch is overloaded with just lights. the real cause is probably that the light switch is just super cheap. most light switches are designed to make the switch snap quickly so the arc doesnt happen, which is what would happen if he flipped it quickly. arcing can cause fires.

    if the switch was shorted, it would probably trigger the circuit breakers.

  8. I wonder what his rent is. I can’t imagine the owner is actually turning a profit since for a $1.3M buy-in, the rent per month should be pretty damn high. Even if it was $5K/month, it still isn’t really a good idea. That’s like a 4.something percent CAP and I didn’t even include expenses. You know the HOA at a place like that is going to be $800-1000/month alone.

    Unless the owner bought it cash and is just sitting on it.

  9. People are shocked about this because they mistakenly believe Vancouver is an actual city for human beings to live in. Everything makes a lot more sense when you realize it’s really just a very large international bank which uses property as its primary currency.

  10. I live in a cabin that’s almost 100 years old. I was concerned about electrical issues and had an inspector take a look. Apparently the wiring was all updated back in the 60s or 70s. The inspector said it’s in better shape than most new construction he sees.

    That’s kind of crazy to me. That the work done 50 years ago is safer and higher quality and the shit done today.

  11. I delivered pizzas in downtown Madison, WI for about a year. Madison has been seeing a huge boom in luxo apartment building to keep pace with demand from yuppies and wealthy UW Madison students who don’t want to live in the decrepit “student housing” blocs.

    I noticed this same kind of build quality in all of the new fancy-pants buildings I would deliver to. Everything paper thin, intercoms never worked, poor quality but high initial aesthetic quality stuff everywhere.

    These things aren’t going to last, and when they all fall apart at the same time, there will surely be economic ramifications.

  12. Just so everyone knows, there’s an entire middle and northern part of Canada that has cheap housing, little to no foreigners and some other cool shit.

  13. It seems like this guy just wants to break his lease and posted this to strike fear into the owner. The manner in which he speaks about the building makes me think he has lawyered up already.

  14. The Vancouver housing market is out of control. It’s spilling into neighbouring cities like Victoria and Kelowna. Housing has gone up like 30% a year for the last few years.

    Renting in Vic is almost impossible and a one bedroom costs like $1200

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