As buyers, you are responsible for inspecting the home on which you have an accepted offer. Normally, a buyer is given about a week after their offer is accepted, as per the contract, to do due diligence and make sure the property you are looking into is as the seller is representing it.
Inspection is one of the most, if not THE most, important item on the todo list for that week. A professional inspector walks through the whole house or apartment, checks the plumbing, flooring, appliances, lights and electrical panel, windows, boilers, mechanical and electrical rooms, etc...
The inspection normally takes about two hours (regardless of the size of the home) and at the end, the inspector provides you (the potential buyer) with an extensive report. The report contains any problematic areas in the property with recommendations about how to remediate them.
The cost normally starts at about $300 plus applicable taxes. Beware that a less expensive inspection quote may not necessarily be a good thing. You want a very thorough inspection done on your most important investment to prevent potential big ticket problems in the future.
I have been working with a lot of clients who love to live in downtown Vancouver AND need a three bedroom condo. Well, as I mentioned in a previous post, these are very hard to come by and not very common especially in the downtown core.
So I have compiled a list of top ten buildings with three bedroom apartments available for sale. Please feel free to browse through the available listings on my "Featured Properties".
1. 1199 Marinaside Crescent (Yaletown)
Built in 1999
38 Floors and 189 Suites
2.1499 W Pender (Coal Harbour)
West Pender Place
Built in 2011
36 Floors and 91 Suites
3.1226 Hamilton (Yaletown)
Built in 1998
7 Floors and 20 Suites
4.1067 Marinaside Crescent (Yaletown)
Built in 2001
24 Floors and 132 Suites
5.1201 Marinaside Crescent
Built in 1997
36 Floors and 146 Suites
6.1211 Melville (Coal Harbour)
Built in 2008
38 Floors and 185 Suites
TV Towers I
Built in 2009
26 Floors and 225 Suites
8.1239 W Georgia (Coal Harbour)
Built in 1997
36 Floors and 298 Suites
Built in 1999
29 Floors and 238 Suites
Built in 2011
43 Floors and 372 Suites
The Coal Harbour neighbourhood in downtown Vancouver is one of the most prestigious and sought after areas in Vancouver. But we know what that means: EXPENSIVE.
Well, I'm excited to tell you that whether you are a first time home buyer or an investor looking to own in this great neighbourhood, you have excellent options.
One of the buildings that I love and always recommend to clients is "The Qube" at 1333 W Georgia Street (between Jervis and Broughton). Situated in the heart of Coal Harbour, only a block away from the water, seconds to public transit and two blocks away from the Robson Street shopping, this great building completed in 2006.
Having been previously a commercial building, The Qube boasts a sound structure, 4 elevators and commercial grade materials. Because it was converted to residential in 2006, the balance of the 2-5-10 warranty remains for owners to enjoy.
Among the 181 units in the building is 420 sf. studios, 560 sf. Junior 1 Bedrooms, 670 and 770 sf. 1 Bedrooms and 940 sf. 2 Bedrooms, all with the same great 9' ceilings and very well coated exterior windows which allow for complete privacy from the neighbouring buildings.
With prices starting at around the $300,000 mark, you can certainly easily buy into this fantastic neighbourhood. The fact that rentals are allowed in this building is an added bonus for investors.
I recently sold a three bedroom townhouse in downtown Vancouver. My client's lifestyle required him to have a third bedroom for guests or grandparents who would come from out of town for a visit often for an extended period of time.
Given the multicultural nature of Vancouver and the great number of different ethnicities and lifestyles living here for at least the past few decades, I often wonder why developers and investors alike have not felt the need for more three bedroom accommodations in downtown Vancouver.
It seems that cultures such as Asians, East Indians, Persians, etc, often have an elderly member either living with them or at least staying with them for an extended period of time and these families are regularly and naturally forced out of the downtown core despite their will.
I even know of very large (and expensive) condominium units in great areas of downtown which are over 3000 square feet and still have only 2 bedrooms??!! What is up with that?