Investing In BC, Vancouver Area

8 Replies

Hey BP, I am looking to invest in the Vancouver, BC Area, I am looking to get a condo or small home under 225k. I'd like to live in it, for the time being and if it has another unit rent it out. I have been looking in Abbotsford, and wonder if anyone have any recommendations for places to invest in this area, I have read a lot of posts saying that it is becoming less profitable to invest in this area, any investors out their still purchasing? What are the thoughts? I will be working in this area, so I do need a place within communing distance to Vancouver Airport.  

Thoughts?

Hi Sheldon, Unfortunately the prices in the Greater Vancouver area are mostly far higher than $225k.  You might be able to find the cheapest of apartments for under that price out in Abbotsford, but that will be over an hour away from YVR Airport.  It looks like the least expensive house in Abbotsford is pretty much a teardown for around $400k.  Most places well over $500k.
I live in Vancouver but choose to invest elsewhere, where the cap rates are better.  But if it's your primary residence, then that might be a different story if you really want to buy, are willing to commute, and may be able to get a second bedroom to rent out in Abbotsford for that price. 

You might be able to find a trailer out here for 225k; I don't even know if you can buy in Agassiz for that price. 
I like Glenkirk crt in mission but your looking at 230 prob and its 50+ years old. 

Anything in Mission around the train is good-ish. 

You will not find anything unless you go to Hope, Chilliwack or Abby... good luck.

Originally posted by @Sheldon Caruana :

Hey BP, I am looking to invest in the Vancouver, BC Area, I am looking to get a condo or small home under 225k. I'd like to live in it, for the time being and if it has another unit rent it out. I have been looking in Abbotsford, and wonder if anyone have any recommendations for places to invest in this area, I have read a lot of posts saying that it is becoming less profitable to invest in this area, any investors out their still purchasing? What are the thoughts? I will be working in this area, so I do need a place within communing distance to Vancouver Airport.  

Thoughts?

 

If your interested in an apartment and willing to put in some work and money to improving things over the next couple years I may have an option for you in Abby.

Bakerview apartments has had two bed units sell for between 193K-222K this year and there is currently one listed for 220K.  It's looks well maintained but is mostly original and unrenovated so you should be able to negotiate that down.

The building is currently in the middle of some major work inside and plans to fix up the outside are going well.  There are defiantly some levies in our near future but once that is all said and we are expecting a major increase in sales value.  So this is a good time to buy, live in it for a couple years, and then sell to have a price profit to use as a down payment for something bigger or closer to Vancouver.

Current listing: https://www.realtor.ca/real-es...

If your interested you can talk to a real estate agents for the AGM minutes and copies of the recent engineer reports.  Feel free to ask me as well as I'm on council at this building.