The BC Real Estate Discussion Thread

[bishopshodan]

6 hours ago, JM_ said:

I'd probably just build it and claim it was an artist studio space on the permit. Then just live in it. 

This might be exactly what one of my friends did. 

Build a studio, leave room for some of the appliances hook them up after inspection (studios can't have them)...and I don't think you can have a proper closet, so leave a 'nook' to add doors in the future. That's what I can remember from what he may have told me.

 

His in-laws may live in that studio now.

[JM_]

1 hour ago, bishopshodan said:

This might be exactly what one of my friends did. 

Build a studio, leave room for some of the appliances hook them up after inspection (studios can't have them)...and I don't think you can have a proper closet, so leave a 'nook' to add doors in the future. That's what I can remember from what he may have told me.

 

His in-laws may live in that studio now.

That may be a great idea. 

 

It would be pretty easy now. I've been browsing for small appliances for a cabin idea, and with things like small induction cooktops and convection microwaves you really don't need a big stove hook-up. You can get laundry on 120. Things like that. 

 

You need to put in a toilet, but that should be allowed in an artist studio space. Plumbing a shower after would be easy. 

 

Anyway thats what I'd do. Just be quiet about it and use a PO Box for your mail. 

[bishopshodan]

This article outlines some issues with the Fed's plan.

 

Labour, land and materials (supply chain) issues could keep prices high even with a push to speed up development. 

 

Canada’s plan to ease runaway housing prices could backfire on Trudeau: experts

https://globalnews.ca/news/8801223/canada-housing-plan-trudeau-backfire/

[JM_]

3 minutes ago, bishopshodan said:

This article outlines some issues with the Fed's plan.

 

Labour, land and materials (supply chain) issues could keep prices high even with a push to speed up development. 

 

Canada’s plan to ease runaway housing prices could backfire on Trudeau: experts

https://globalnews.ca/news/8801223/canada-housing-plan-trudeau-backfire/

I saw an excellent idea out of Chile, where they build places only partly finished. You as the home owner finish off the interior once the shell is up. 

 

I think its a great idea for Canada, most people can handle finishing work (or get IKEA to do your kitchen) and it really speeds up availability. 

 

People used to do this kind of thing. I remember talking to the old timer we bought our house from (built in 1948), everyone one the block helped each other, did much of their own finishing work, etc. No reason people can't do that now. I mean other than many millennial men not knowing what a screwdriver is for, but thats why we have You Tube. 

 

[bishopshodan]

3 hours ago, JM_ said:

I saw an excellent idea out of Chile, where they build places only partly finished. You as the home owner finish off the interior once the shell is up. 

 

I think its a great idea for Canada, most people can handle finishing work (or get IKEA to do your kitchen) and it really speeds up availability. 

 

People used to do this kind of thing. I remember talking to the old timer we bought our house from (built in 1948), everyone one the block helped each other, did much of their own finishing work, etc. No reason people can't do that now. I mean other than many millennial men not knowing what a screwdriver is for, but thats why we have You Tube. 

 

It's a great idea.

We call it building to 'lock up'

 

There was a great Cedar home builders near us doing it for a while. You get a shell of a house on a foundation with plumbing and electrical done. The rest you finish. I think there are still a few pre-fab companies offering it. 

[JM_]

11 hours ago, bishopshodan said:

It's a great idea.

We call it building to 'lock up'

 

There was a great Cedar home builders near us doing it for a while. You get a shell of a house on a foundation with plumbing and electrical done. The rest you finish. I think there are still a few pre-fab companies offering it. 

I think it would be a great option, among others. I don't know that we have anyone in gov't willing or able to push for this kind of thing.

 

We have the 2nd largest land mass in the world and we're making it unaffordable, its just stupid. 

[NewbieCanuckFan]

2 minutes ago, JM_ said:

I think it would be a great option, among others. I don't know that we have anyone in gov't willing or able to push for this kind of thing.

 

We have the 2nd largest land mass in the world and we're making it unaffordable, its just stupid. 

Problem is, most want to live in a significantly smaller area of the country.

[JM_]

4 minutes ago, NewbieCanuckFan said:

Problem is, most want to live in a significantly smaller area of the country.

I think if we opened up new affordable suburbs you'd see a lot of people taking up the opportunity. We can also keep going vertical with new condo's. In order to get people moving further out of city centres tho we need better public transportation. 

 

E.g., there's room to build up many new homes in the sea to sky area, but there's no reliable public transportation, no bus or no train to get commuters to downtown Vancouver. Just one dangerous over stuffed highway, single lane at times. Hell we can't even get a train to the valley properly. When you compare Canada to a country like Japan and what they've done with public transportation it makes me sad. These two things have to go together to open up space further away from city centres but our dead from the neck up politicians can't think beyond 4 years. 

[aGENT]

On 4/7/2022 at 3:26 PM, bishopshodan said:

This might be exactly what one of my friends did. 

Build a studio, leave room for some of the appliances hook them up after inspection (studios can't have them)...and I don't think you can have a proper closet, so leave a 'nook' to add doors in the future. That's what I can remember from what he may have told me.

 

His in-laws may live in that studio now.

"Workshop" does the same thing....

[nuckin_futz]

Cracks continue to show in the Canadian housing market

• Sales stumble in Toronto in April

 

The Canadian housing market is one of the biggest bubbles in the world and I believe that it's finally popping as over-leveraged borrowers face rapidly-rising interest rates.

 

Today the Toronto Regional Real Estate Board showed 8,008 properties were sold in the month of April, far below the 13,613 transactions that occurred in the same month last year and down 27% from March.

 

It's a sign that buyers are beginning to balk at prices. Locally, I'm seeing houses take longer to sell than they did even a month ago, particularly at the higher end.

In Toronto, the average sales price declined 3.5% m/m to a still-eyewatering $1,254,436.

 

I don't know if this stabilizes at -20% or something worse but until there are signs of flattening, it's going to be tough to see a sustained rise in the Canadian dollar.

[Warhippy]

4 minutes ago, nuckin_futz said:

Cracks continue to show in the Canadian housing market

• Sales stumble in Toronto in April

 

The Canadian housing market is one of the biggest bubbles in the world and I believe that it's finally popping as over-leveraged borrowers face rapidly-rising interest rates.

 

Today the Toronto Regional Real Estate Board showed 8,008 properties were sold in the month of April, far below the 13,613 transactions that occurred in the same month last year and down 27% from March.

 

It's a sign that buyers are beginning to balk at prices. Locally, I'm seeing houses take longer to sell than they did even a month ago, particularly at the higher end.

In Toronto, the average sales price declined 3.5% m/m to a still-eyewatering $1,254,436.

 

I don't know if this stabilizes at -20% or something worse but until there are signs of flattening, it's going to be tough to see a sustained rise in the Canadian dollar.

Even a 30% decrease only brings us back to the prices we saw Sept 2020.  Which is still incredibly unaffordable for everyone.

 

That 2 year ban on foreign ownership might look like the single smartest piece of legislation written in decades if things topple.  They might want to add the clause for corporate purchases from places like Zillow to further protect Canadians.

 

I still don't see it, there's still more people coming than homes being built.  People refuse to leave unaffordable areas at all and in the end nobody wants to take ownership for a problem that has existed since about 2010

[Boudrias]

19 hours ago, Warhippy said:

Even a 30% decrease only brings us back to the prices we saw Sept 2020.  Which is still incredibly unaffordable for everyone.

 

That 2 year ban on foreign ownership might look like the single smartest piece of legislation written in decades if things topple.  They might want to add the clause for corporate purchases from places like Zillow to further protect Canadians.

 

I still don't see it, there's still more people coming than homes being built.  People refuse to leave unaffordable areas at all and in the end nobody wants to take ownership for a problem that has existed since about 2010

People have to sleep somewhere. To many people assume that not buying a house is a option when the reality is that there is no rentals either. I think this situation is a ticking time bomb. It has the potential of causing a financial crisis that leaves millions without a home. As per usual in Canada there is no serious discussion. Record immigration, seniors staying longer in homes, lack of capacity to build new homes, cost of materials, zoning, cost of regulations…. A combination of reasons at all government levels. 

[Russ]

On 5/1/2022 at 4:20 PM, JM_ said:

I saw an excellent idea out of Chile, where they build places only partly finished. You as the home owner finish off the interior once the shell is up. 

 

I think its a great idea for Canada, most people can handle finishing work (or get IKEA to do your kitchen) and it really speeds up availability. 

 

People used to do this kind of thing. I remember talking to the old timer we bought our house from (built in 1948), everyone one the block helped each other, did much of their own finishing work, etc. No reason people can't do that now. I mean other than many millennial men not knowing what a screwdriver is for, but thats why we have You Tube. 

 

Theres more than just slapping up a cheap carcass.  You need to make sure it fits proper because I can guarantee cabinets won't fit whats built, make sure everything is secured, make sure all the plumbing and wiring is done correctly to code for dishwasher/sinks/etc because those will be done after cabinets are in. How many people do you think own a hole saw to cut the plumbing hole in the back of the cabinet in the proper spot?  Or your water lines running out would be just capped off (so the hole isn't to big in cabinet) so then you still have to put the valve shut off on, how many people are sitting there with PEX tools or can solder copper proper where it won't leak?  How many people own 18 or 23 guage pin nailers with compressors or on a battery platform for finishing off their trim?

 

Its one thing to put up a kids cabinet to hold their toys, its another to do the rest of the house.  Big issue with that idea is most people building new homes need to move in.  If theres things such as cabinets that aren't done, then home owners not only have to buy the home, but then spend the time installing/painting/installing flooring.  In the busy lives people have now, how many people can do all that, while working, while living in another home.  I know IKEA seems cheap, but contractors get things at such volume discounts that the homeowner isn't going to save a bunch of money in the end.

 

This is coming from a millennial (yes I know how to use a screwdriver ) who spent 5 years doing a complete and utter gut job of my home, its hard living in a construction site essentially for years redoing electrical/plumbing/walls/kitchens/etc (and then I sold the place and moving into another house where the wife already has plans for renos in that one, weeeeeeee).  Its a lot of work even outside of just having a shell, I couldn't see it being viable for many people, hell good majority of people I know call me to come fix their stuff when I have time, I had to teach 2 friends how to replace the wax seal on their toilet to keep it from leaking  or to fix basic electrical because they don't know what they are doing. Hell had one friend want to swap a plug at his house, he didn't realize the wire was 220 and was about to wire it up to 110 plug and didn't even want to go into his panel to change it up, luckily I was there to change his panel because that could have gotten dicey and he's a smart guy that knows his stuff for the most part.

 

Trying to get people to do major stuff is going to be rough for people these days with whats needed, time and effort will keep most houses unfinished for years until they hire someone to finish it as they want to move out in my opinion.

[bishopshodan]

5 minutes ago, Russ said:

Theres more than just slapping up a cheap carcass.  You need to make sure it fits proper because I can guarantee cabinets won't fit whats built, make sure everything is secured, make sure all the plumbing and wiring is done correctly to code for dishwasher/sinks/etc because those will be done after cabinets are in. How many people do you think own a hole saw to cut the plumbing hole in the back of the cabinet in the proper spot?  Or your water lines running out would be just capped off (so the hole isn't to big in cabinet) so then you still have to put the valve shut off on, how many people are sitting there with PEX tools or can solder copper proper where it won't leak?  How many people own 18 or 23 guage pin nailers with compressors or on a battery platform for finishing off their trim?

 

Its one thing to put up a kids cabinet to hold their toys, its another to do the rest of the house.  Big issue with that idea is most people building new homes need to move in.  If theres things such as cabinets that aren't done, then home owners not only have to buy the home, but then spend the time installing/painting/installing flooring.  In the busy lives people have now, how many people can do all that, while working, while living in another home.  I know IKEA seems cheap, but contractors get things at such volume discounts that the homeowner isn't going to save a bunch of money in the end.

 

This is coming from a millennial (yes I know how to use a screwdriver ) who spent 5 years doing a complete and utter gut job of my home, its hard living in a construction site essentially for years redoing electrical/plumbing/walls/kitchens/etc (and then I sold the place and moving into another house where the wife already has plans for renos in that one, weeeeeeee).  Its a lot of work even outside of just having a shell, I couldn't see it being viable for many people, hell good majority of people I know call me to come fix their stuff when I have time, I had to teach 2 friends how to replace the wax seal on their toilet to keep it from leaking  or to fix basic electrical because they don't know what they are doing. Hell had one friend want to swap a plug at his house, he didn't realize the wire was 220 and was about to wire it up to 110 plug and didn't even want to go into his panel to change it up, luckily I was there to change his panel because that could have gotten dicey and he's a smart guy that knows his stuff for the most part.

 

Trying to get people to do major stuff is going to be rough for people these days with whats needed, time and effort will keep most houses unfinished for years until they hire someone to finish it as they want to move out in my opinion.

It's not ideal and you make some good points but selling new homes to lock-up is an option to help reduce overall costs and get more people into ownership.

 

Like this company offers..http://trafalgarhomes.ca/faq/pricing-options/

[Russ]

13 minutes ago, bishopshodan said:

It's not ideal and you make some good points but selling new homes to lock-up is an option to help reduce overall costs and get more people into ownership.

 

Like this company offers..http://trafalgarhomes.ca/faq/pricing-options/

Oh yea I am not poo pooing the idea.  But my point was a lot of homes built these days, people don't have the time and capital (own the home, still rent somewhere else while finishing) to go in and finish it off your self is limited.  If you got some friends in trades/handymen, you can get them to help but for lots of people it would be overwhelming to actually finish a home, not just make it livable with things half left over. 

 

Those are great little homes and concepts, I would really have to look closer into it as I haven't really seen to much of those before. Seems like the type of thing my wife would get her friends to do then send me off to go finish up for them haha.

Edited May 5, 2022 by Russ

[JM_]

24 minutes ago, Russ said:

Theres more than just slapping up a cheap carcass.  You need to make sure it fits proper because I can guarantee cabinets won't fit whats built, make sure everything is secured, make sure all the plumbing and wiring is done correctly to code for dishwasher/sinks/etc because those will be done after cabinets are in. How many people do you think own a hole saw to cut the plumbing hole in the back of the cabinet in the proper spot?  Or your water lines running out would be just capped off (so the hole isn't to big in cabinet) so then you still have to put the valve shut off on, how many people are sitting there with PEX tools or can solder copper proper where it won't leak?  How many people own 18 or 23 guage pin nailers with compressors or on a battery platform for finishing off their trim?

 

Its one thing to put up a kids cabinet to hold their toys, its another to do the rest of the house.  Big issue with that idea is most people building new homes need to move in.  If theres things such as cabinets that aren't done, then home owners not only have to buy the home, but then spend the time installing/painting/installing flooring.  In the busy lives people have now, how many people can do all that, while working, while living in another home.  I know IKEA seems cheap, but contractors get things at such volume discounts that the homeowner isn't going to save a bunch of money in the end.

 

This is coming from a millennial (yes I know how to use a screwdriver ) who spent 5 years doing a complete and utter gut job of my home, its hard living in a construction site essentially for years redoing electrical/plumbing/walls/kitchens/etc (and then I sold the place and moving into another house where the wife already has plans for renos in that one, weeeeeeee).  Its a lot of work even outside of just having a shell, I couldn't see it being viable for many people, hell good majority of people I know call me to come fix their stuff when I have time, I had to teach 2 friends how to replace the wax seal on their toilet to keep it from leaking  or to fix basic electrical because they don't know what they are doing. Hell had one friend want to swap a plug at his house, he didn't realize the wire was 220 and was about to wire it up to 110 plug and didn't even want to go into his panel to change it up, luckily I was there to change his panel because that could have gotten dicey and he's a smart guy that knows his stuff for the most part.

 

Trying to get people to do major stuff is going to be rough for people these days with whats needed, time and effort will keep most houses unfinished for years until they hire someone to finish it as they want to move out in my opinion.

I guess I haven't met the right millennials, the friends of my nieces that I've met seemed more interested in manscaping than landscaping.

 

But even with that, I do think it could be a good option for many, and it might even draw more young people into trades because of the demand.

 

We're going to need a whole suite of options to solve the the housing crisis, this would just be one of many ideas. 

 

[Russ]

12 minutes ago, JM_ said:

I guess I haven't met the right millennials, the friends of my nieces that I've met seemed more interested in manscaping than landscaping.

 

But even with that, I do think it could be a good option for many, and it might even draw more young people into trades because of the demand.

 

We're going to need a whole suite of options to solve the the housing crisis, this would just be one of many ideas. 

 

LMAO! I know a few people like that, my mom hates it because I don't clean myself up, I will keep the semi-unkept beard because I usually don't have time to dink around cleaning myself up.  Theres always jobs and tasks to do, I could care less about my appearance.  I would rather be chopping firewood or working in the yard than making myself look presentable.  Pros of being married, you're wife doesn't care as much anymore about you looking presentable on a day to day basis haha!

 

Kids aren't built for trades much anymore.  Theres still a bit more of an oldschool mentality in the trades that I think the current generations going forward haven't been tasked with. I just had an interview at work about a promotion, I told them how I value family and will work with guys when family issues arise and the older supervisor said "when I hired xxx (his second in command) 30 years ago we didn't give 2 craps about your family, you are hired and you work" but he did realize things had changed now from 30 years ago and he has to be more flexible now but theres still a bit more of that sentiment while other careers are more progressive.  I would love to get more kids in the trades, I absolutely love it, couldn't imagine what my life would have been like if I had kept my original goal of being a teacher, I think I would have been miserable.  I know I will be pushing my kid to be an electrician or plumber, etc. when he's choosing a career field but who knows what'll be in demand then. I am just finishing up new kitchen and bathroom cabinets for a buddys place, his friend saw it and asked if I could build cabinets for his rental suite as opposed to him buying IKEA (I assume they won't fit).  So if I take that project on that'll be a good chunk of my summer hours keeping me busy when the kids aren't around.

 

The only way to solve the housing crisis will be upwards.  More 2000sq ft condos that can house families (not just couples).  They really should be pushing these high rise developments to do less places but with larger sq ft so people can actually have kids in them, a 800sq ft condo isn't mean for a family of 4, its doable but not ideal.  Make them closer to 1700-2000sq ft so theres more room.

[JM_]

3 minutes ago, Russ said:

LMAO! I know a few people like that, my mom hates it because I don't clean myself up, I will keep the semi-unkept beard because I usually don't have time to dink around cleaning myself up.  Theres always jobs and tasks to do, I could care less about my appearance.  I would rather be chopping firewood or working in the yard than making myself look presentable.  Pros of being married, you're wife doesn't care as much anymore about you looking presentable on a day to day basis haha!

 

Kids aren't built for trades much anymore.  Theres still a bit more of an oldschool mentality in the trades that I think the current generations going forward haven't been tasked with. I just had an interview at work about a promotion, I told them how I value family and will work with guys when family issues arise and the older supervisor said "when I hired xxx (his second in command) 30 years ago we didn't give 2 craps about your family, you are hired and you work" but he did realize things had changed now from 30 years ago and he has to be more flexible now but theres still a bit more of that sentiment while other careers are more progressive.  I would love to get more kids in the trades, I absolutely love it, couldn't imagine what my life would have been like if I had kept my original goal of being a teacher, I think I would have been miserable.  I know I will be pushing my kid to be an electrician or plumber, etc. when he's choosing a career field but who knows what'll be in demand then. I am just finishing up new kitchen and bathroom cabinets for a buddys place, his friend saw it and asked if I could build cabinets for his rental suite as opposed to him buying IKEA (I assume they won't fit).  So if I take that project on that'll be a good chunk of my summer hours keeping me busy when the kids aren't around.

 

The only way to solve the housing crisis will be upwards.  More 2000sq ft condos that can house families (not just couples).  They really should be pushing these high rise developments to do less places but with larger sq ft so people can actually have kids in them, a 800sq ft condo isn't mean for a family of 4, its doable but not ideal.  Make them closer to 1700-2000sq ft so theres more room.

To me its a real shame that the trades aren't viewed as better options, particularly for women. BCIT does run a neat trades discovery program trying to change that but I think the uptake is slow. We have 50% of the population that could do most of the work and make great money doing it. 

 

I do agree vertical is like the majority of the solution, thats where I see a big opportunity for ideas like leasehold building, co-ops, rent-to-own, etc. to make it more affordable. 

[Russ]

Just now, JM_ said:

To me its a real shame that the trades aren't viewed as better options, particularly for women. BCIT does run a neat trades discovery program trying to change that but I think the uptake is slow. We have 50% of the population that could do most of the work and make great money doing it. 

 

I do agree vertical is like the majority of the solution, thats where I see a big opportunity for ideas like leasehold building, co-ops, rent-to-own, etc. to make it more affordable. 

Sisters friend went into welding.  Got a job instantly apparently for big pay because she was good, women have a tendancy to be a lot better than men in many aspects because they are more particular.  Might not go as quick but do a better job because they really care.  Every female trade person I have ever had a chance to work with (not a ton but a few) has been great.  The have some downsides (mainly overall physical strength compared to men) but overall they are excellent workers, top tier to work with.  

[JM_]

6 minutes ago, Russ said:

Sisters friend went into welding.  Got a job instantly apparently for big pay because she was good, women have a tendancy to be a lot better than men in many aspects because they are more particular.  Might not go as quick but do a better job because they really care.  Every female trade person I have ever had a chance to work with (not a ton but a few) has been great.  The have some downsides (mainly overall physical strength compared to men) but overall they are excellent workers, top tier to work with.  

yup, there are certainly a few trades that would be hard (at least how they are currently done) but there are a lot of opportunities. 

 

Heck my wife is not a big person and when we were doing a big basement reno and I was jackhammering out some concrete, she was like 'let me try that'  did a good job too. She couldn't have done it all day but for small jobs there shouldn't be that many limitations.