Minimum Wage In Canada : Wages in Different Provinces Below
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Posted on: 23-03-15 16:13:17
Here is a sale deal closed this month, near North West end of Brampton and hope you will get a sense of ground reality:
Traditional 3 level detached, 2 car garage, 2450 sq ft. house, finished basement with separate entrance from side, 7 years old, 40 ft lot size. Asking price 525K and sold for 545K – multiple offers.
This year’s cold compelled me to think to relocate – after living in GTA for 14 years. I am seriously thinking to move to Vancouver. What will be the price of a detached house of around 2800 sq ft in suburbs of Vancouver? What will be rental for the similar house as I will prefer to rent out for a year and compare the life?
Vancouver is the new destination right now - don’t know where my destiny will take me. Few places I had picked in the past to live a retired life – Dhanaulti, Kasauli near Solan, Bengaluru, Pune, Toronto, Brampton……….
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A Delhite in Toronto
Quote:
Originally posted by febpreet
When you say 'affordable', can you tell me if one can buy 3 level (with finished basement, 2 car garage detached, less than 12 years old house) for $550k in a decent neighborhood with good schools? If the difference between Van and TO is a mere 25-30k, then I think it doesn't make any sense in uprooting myself. I equally don't want to live in a crappy neighborhood with downtrodden schools either. Trust me, Brampton doesn't fare too good with this. Mississauga, Milton, Vaughn, Markham, Richmond Hill, Woodbridge are in the same bracket as Greater Vancouver burbs.
I think I should suck it up.
Febpreet,
Thats a lot of must have's for 550k. All cities have good schools, but the prices go up when the property is close to good schools. If you remove the good schools part, then you might get a single garage house for 550k in Ajax, Milton, Brampton, Milton etc.
Markham - you can get single garage houses near Unionville for 750k, it goes down to close to 720k when its closer to East Markham. A double garage near Unionville starts at 850k, goes for about 775+ in East Markham.
Vaughan - Its slightly less than Markham, you can get a double garage detached near Keele?Teston area for around 750.
RichmondHill - Its almost same as Markham, can get somewhat cheaper than Markham when you go north in RH
Mississauga - Last year a friend of mine bought a double garage newer house for close to 700k, that was a deal as he avoided the 2.5% commission by buying directly from the seller agent. The prices have gone up since.
So to answer your question, its quite hard to find a detached property in good condition near to GTA for that price with good schools.
Quote:
Originally posted by Delhite
Here is a sale deal closed this month, near North West end of Brampton and hope you will get a sense of ground reality:
Traditional 3 level detached, 2 car garage, 2450 sq ft. house, finished basement with separate entrance from side, 7 years old, 40 ft lot size. Asking price 525K and sold for 545K – multiple offers.
This year’s cold compelled me to think to relocate – after living in GTA for 14 years. I am seriously thinking to move to Vancouver. What will be the price of a detached house of around 2800 sq ft in suburbs of Vancouver? What will be rental for the similar house as I will prefer to rent out for a year and compare the life?
Vancouver is the new destination right now - don’t know where my destiny will take me. Few places I had picked in the past to live a retired life – Dhanaulti, Kasauli near Solan, Bengaluru, Pune, Toronto, Brampton……….
Hello Delhite,
I am in the market looking to buy in Surrey or Langley, BC (~35 kms from Downtown Vancouver). Here's what I observed so far. In a decent neighborhood with good schools, 3 level detached with fully finished basement goes from $600 upwards. The traditional front garage is the luxury now that start from $650k. They are coming up with new plans (3 BR), with garage in the back alley and detached from the house. These houses start from $580k. Then, there are Coach Homes. These are the new style laneway housing, where the garage is still detached from the house with access from the back-alley. There is a suite on top of the garage. So, you get two suites - one in the basement, and another on top of the laneway garage. However, the trouble with the new designs is that you have no front or backyard, like the traditional houses. With land being premium they want to cut every corner as possible.
All of the above home types are relatively new (~less than 7-8 years). The size(built area) vary from $2500 - $3500 sq. ft.
As said, houses with the front two car garage is now becoming premium and don't cost less than $650k. In a posh neighborhood within the City of Surrey, a brand new house doesn't cost less than $800k.
Semi-detached (Duplex) homes range from $590k upwards.
Burnaby, Richmond, Vanocuver, North and West Vanocuver, New Westminster, Delta have nothing less than a million. So, I don't even consider these cities in my house search, despite being desirable and beautiful communities having a million dollar view of the mountains.
I would recommend you to browse MLS. You will get an idea. Here are the desirable neighborhoods:
Surrey,
1. Panorama Ridge
2. Fleetwood
3. Sullivan Station/Heights
4. Cloverdale
5. Clayton
6. Fraser Heights
7. Tynehead
8. South Surrey
9. White Rocks
Langley:
1. Langley City
2. Walnut Grove
Quote:
Originally posted by northyork_desi
Quote:
Originally posted by febpreet
When you say 'affordable', can you tell me if one can buy 3 level (with finished basement, 2 car garage detached, less than 12 years old house) for $550k in a decent neighborhood with good schools? If the difference between Van and TO is a mere 25-30k, then I think it doesn't make any sense in uprooting myself. I equally don't want to live in a crappy neighborhood with downtrodden schools either. Trust me, Brampton doesn't fare too good with this. Mississauga, Milton, Vaughn, Markham, Richmond Hill, Woodbridge are in the same bracket as Greater Vancouver burbs.
I think I should suck it up
Febpreet,
Thats a lot of must have's for 550k. All cities have good schools, but the prices go up when the property is close to good schools. If you remove the good schools part, then you might get a single garage house for 550k in Ajax, Milton, Brampton, Milton etc.
Markham - you can get single garage houses near Unionville for 750k, it goes down to close to 720k when its closer to East Markham. A double garage near Unionville starts at 850k, goes for about 775+ in East Markham.
Vaughan - Its slightly less than Markham, you can get a double garage detached near Keele?Teston area for around 750.
RichmondHill - Its almost same as Markham, can get somewhat cheaper than Markham when you go north in RH
Mississauga - Last year a friend of mine bought a double garage newer house for close to 700k, that was a deal as he avoided the 2.5% commission by buying directly from the seller agent. The prices have gone up since.
So to answer your question, its quite hard to find a detached property in good condition near to GTA for that price with good schools.
So, in a nutshell, the prices are at par with Vancouver burbs and un-affordable.
Febpreet - howz about the annual city tax for 600K and 800K house in those neighborhoods? In Brampton, you can consider around 1% of house value.
I don't mind going up to 900K but the annual city tax is a resistance for me.
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A Delhite in Toronto
Here's the City of Surrey Property Tax rate:
http://www.surrey.ca/city-services/593.aspx.
Hey Febpreet,
First of all, I didn't get your phone number on that day (no missed call on my phone) so please buzz me or pm me your number so that we can chat. Please drop a message here if you pm me as I very rarely login to CD.
Just couple of days ago I saw a nice house in the market in fleetwood which seems to have three level with basement listed at 638k. I saw they have open house on weekend and I expect it to sell fast.
You may want to look at walnut grove, Langley and it is an excellent area with very good schools. Even transit is not bad as it has non- stop bus which connect to braid sky train in 20 minutes. Sullivan is another area where prices are still not too bad but I have questions about schools in that area particularly very over crowded though new school is coming up next year. market is hot in fleetwood as I see whenever house is listed at reasonable price, it sells fast. Good luck with your house search.
Delhite, rents are not too bad in GVR. You can get $3 million house on rent at about 4-5k.
