Comments on: Leaky condos, tourists, HST & forecasting http://vancouvercondo.info/2009/08/leaky-condos-tourists-hst-forecasting.html?utm_source=rss&utm_medium=rss&utm_campaign=leaky-condos-tourists-hst-forecasting Bubble? What Bubble? Thu, 24 May 2012 17:18:22 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Advocate http://vancouvercondo.info/2009/08/leaky-condos-tourists-hst-forecasting.html#comment-51149 Advocate Wed, 26 Aug 2009 22:18:20 +0000 http://vancouvercondo.info/?p=1302#comment-51149 Why would anyone risk buying a condo in BC? With leaky condos, antiquated strata legislation and escalating strata fees due to the HST the alternatives are looking more attractive. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-51149">0</span> <small>(to vote for this comment, please visit the site)</small></p> Why would anyone risk buying a condo in BC? With leaky condos, antiquated strata legislation and escalating strata fees due to the HST the alternatives are looking more attractive.

Current score: 0 (to vote for this comment, please visit the site)

]]> By: Skye http://vancouvercondo.info/2009/08/leaky-condos-tourists-hst-forecasting.html#comment-50405 Skye Mon, 10 Aug 2009 12:51:57 +0000 http://vancouvercondo.info/?p=1302#comment-50405 <a href="#comment-50404" rel="nofollow">bandit</a>: Hahah wow some luxury. I guess that "new condo smell" is worth the extra thousands per month. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-50405">1</span> <small>(to vote for this comment, please visit the site)</small></p> bandit: Hahah wow some luxury. I guess that "new condo smell" is worth the extra thousands per month.

Current score: 1 (to vote for this comment, please visit the site)

]]> By: bandit http://vancouvercondo.info/2009/08/leaky-condos-tourists-hst-forecasting.html#comment-50404 bandit Mon, 10 Aug 2009 12:48:23 +0000 http://vancouvercondo.info/?p=1302#comment-50404 buyers don't make conscious, educated decisions but they buy based on gut feel or hype. I've seen it amongst friends and workmates. My take on this, if they are willing to take the risk then they have to deal with the consequences. people just don't do their homework, reading the contract, asking questions, researching ect... anecdotal: One time I made an inspection because the friend that bought was out of town for a while and it was shocking how many fails there were in his brand new Firenze 'luxury' condo. Bought a while back at 450$/sqft, presale takeover/unseen. I doubt they would have bought upon actually seeing the thing but presale is hoe they got the 'great' price. Just a few gems: - huge gap in balcony door letting air and water in (1 inch on the top) - carpet wasn't glued to the floor everywhere (you could see wave bumps) - brand new fridge had a huge dent on the side - about 50 minor to medium things like scratches, loose power outlets, ect ect... They thought they'd be priced out soon and felt they have to rush into the market. The big selling points from the brochure had to be removed to to space issues so i doubt they could sell at the same price even if the market went sideways. - fireplace: removed to allow for more room in the tiny place (mind you it was an electrical one, kind of looked like a closet with an artificial fire in there...pretty tacky...it looked so nice in the brochure...) - 'solarium' was 2 glass walls built in WITHIN the living room. They had it removed so they could actually fit a couch in the living space - the grande balcony: it's almost unusable since they way the door opens to the outside only one person can get out and would have to shut the door to get behind the door on the outside to let a second person out. Bigger folks cannot use the balcony. - the awesome 'walk in' closet: about 50 cm deep and yeah you can walk in as long as there aren't any clothes in there. Basically a regular closet. -no basement storage room at all <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-50404">2</span> <small>(to vote for this comment, please visit the site)</small></p> buyers don't make conscious, educated decisions but they buy based on gut feel or hype. I've seen it amongst friends and workmates. My take on this, if they are willing to take the risk then they have to deal with the consequences.

people just don't do their homework, reading the contract, asking questions, researching ect…

anecdotal:

One time I made an inspection because the friend that bought was out of town for a while and it was shocking how many fails there were in his brand new Firenze 'luxury' condo. Bought a while back at 450$/sqft, presale takeover/unseen. I doubt they would have bought upon actually seeing the thing but presale is hoe they got the 'great' price.

Just a few gems:

- huge gap in balcony door letting air and water in (1 inch on the top)

- carpet wasn't glued to the floor everywhere (you could see wave bumps)

- brand new fridge had a huge dent on the side

- about 50 minor to medium things like scratches, loose power outlets, ect ect…

They thought they'd be priced out soon and felt they have to rush into the market. The big selling points from the brochure had to be removed to to space issues so i doubt they could sell at the same price even if the market went sideways.

- fireplace: removed to allow for more room in the tiny place (mind you it was an electrical one, kind of looked like a closet with an artificial fire in there…pretty tacky…it looked so nice in the brochure…)

- 'solarium' was 2 glass walls built in WITHIN the living room. They had it removed so they could actually fit a couch in the living space

- the grande balcony: it's almost unusable since they way the door opens to the outside only one person can get out and would have to shut the door to get behind the door on the outside to let a second person out. Bigger folks cannot use the balcony.

- the awesome 'walk in' closet: about 50 cm deep and yeah you can walk in as long as there aren't any clothes in there. Basically a regular closet.

-no basement storage room at all

Current score: 2 (to vote for this comment, please visit the site)

]]> By: Arwen http://vancouvercondo.info/2009/08/leaky-condos-tourists-hst-forecasting.html#comment-50402 Arwen Mon, 10 Aug 2009 11:23:09 +0000 http://vancouvercondo.info/?p=1302#comment-50402 @Ulsterman - you're not alone! We're saving a tiny amount per month (RRSPs, RESPs, but nothing like 1K per month) and paying off a student loan, and otherwise squeaking by. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-50402">0</span> <small>(to vote for this comment, please visit the site)</small></p> @Ulsterman – you're not alone! We're saving a tiny amount per month (RRSPs, RESPs, but nothing like 1K per month) and paying off a student loan, and otherwise squeaking by.

Current score: 0 (to vote for this comment, please visit the site)

]]> By: No Longer Looking http://vancouvercondo.info/2009/08/leaky-condos-tourists-hst-forecasting.html#comment-50401 No Longer Looking Mon, 10 Aug 2009 11:02:55 +0000 http://vancouvercondo.info/?p=1302#comment-50401 Sean, Most people in Vancouver are better off in rental or non-market housing. Unless prices plunge 50%, home ownership is too risky. Do you recognize that condos are inherently a problem? They are built for short-term profit and there is no way to hold the builders accountable. If buildings were built by those who would own them for decades, I can guarantee they would be properly designed with higher quality workmanship. Its really too bad that the rental stock is growing old, and all we can replace it with is these bloody condos. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-50401">2</span> <small>(to vote for this comment, please visit the site)</small></p> Sean,

Most people in Vancouver are better off in rental or non-market housing. Unless prices plunge 50%, home ownership is too risky.

Do you recognize that condos are inherently a problem? They are built for short-term profit and there is no way to hold the builders accountable. If buildings were built by those who would own them for decades, I can guarantee they would be properly designed with higher quality workmanship.

Its really too bad that the rental stock is growing old, and all we can replace it with is these bloody condos.

Current score: 2 (to vote for this comment, please visit the site)

]]> By: Dr. No http://vancouvercondo.info/2009/08/leaky-condos-tourists-hst-forecasting.html#comment-50400 Dr. No Mon, 10 Aug 2009 10:31:30 +0000 http://vancouvercondo.info/?p=1302#comment-50400 "People need a home. Most cannot afford to buy a detached home in this city. What other choices do they have." Hmmmm, ever heard of a thing called: 'RENT'? Forget owning; start renting and save yourself big $’s over the long term. It’s the desperation to own that pumps up the prices and makes others ever more desperate! It's not enough that people are stupid enough to pay way too much to own condos in this city, they add insult to injury after the fact by suggesting that taxpayers (not the Government) should pay for their maintenance. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-50400">2</span> <small>(to vote for this comment, please visit the site)</small></p> "People need a home. Most cannot afford to buy a detached home in this city. What other choices do they have."

Hmmmm, ever heard of a thing called: 'RENT'? Forget owning; start renting and save yourself big $’s over the long term. It’s the desperation to own that pumps up the prices and makes others ever more desperate!

It's not enough that people are stupid enough to pay way too much to own condos in this city, they add insult to injury after the fact by suggesting that taxpayers (not the Government) should pay for their maintenance.

Current score: 2 (to vote for this comment, please visit the site)

]]> By: Sean Wiens http://vancouvercondo.info/2009/08/leaky-condos-tourists-hst-forecasting.html#comment-50399 Sean Wiens Mon, 10 Aug 2009 09:48:22 +0000 http://vancouvercondo.info/?p=1302#comment-50399 No it is not the Government's Fault that it rains. It is their fault that they do not take the rain into account when designing the building codes. Yes the cost of the Government's mistakes is born by the taxpayer. When has this been different. You would think that the voters would start to hold the Government accountable. People need a home. Most cannot afford to buy a detached home in this city. What other choices do they have. They are not moron's, they are usually desperate, a position I hope that you, with your high standards never find yourself in. Sean Wiens President - SENWI Home Inspections <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-50399">-2</span> <small>(to vote for this comment, please visit the site)</small></p> No it is not the Government's Fault that it rains. It is their fault that they do not take the rain into account when designing the building codes. Yes the cost of the Government's mistakes is born by the taxpayer. When has this been different. You would think that the voters would start to hold the Government accountable.

People need a home. Most cannot afford to buy a detached home in this city. What other choices do they have. They are not moron's, they are usually desperate, a position I hope that you, with your high standards never find yourself in.

Sean Wiens

President – SENWI Home Inspections

Current score: -2 (to vote for this comment, please visit the site)

]]> By: Dr. No http://vancouvercondo.info/2009/08/leaky-condos-tourists-hst-forecasting.html#comment-50398 Dr. No Mon, 10 Aug 2009 09:28:26 +0000 http://vancouvercondo.info/?p=1302#comment-50398 "We need to hold the Provincial Government accountable for the fact that their prescriptive building codes is what caused the leaky condo problem in the first place. In most cases the builders built the way they were told to. It is the building codes at fault and the only body to be held accountable is the Government. Downloading this responsibility to societies seniors or those falling on hard times is unconscionable. Sean Wiens President - SENWI House Inspections" Give your empty head a shake Sean! It's the Government’s fault that it rains in Vancouver?? Taxpayers bail out Governments so when you suggest that the Government should pay, you’re saying that I should pay. What's unconscionable is jerks like you suggesting that it was somehow the Government’s fault (because they have the deepest pockets) that people were stupid enough to buy leaky condos. I wouldn’t take a condo in this city (or any other city for that matter) if it was free, and I’m certainly not willing to pay for someone else’s stupid mistake (i.e: the moron who bought the condo in the first place). <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-50398">3</span> <small>(to vote for this comment, please visit the site)</small></p> "We need to hold the Provincial Government accountable for the fact that their prescriptive building codes is what caused the leaky condo problem in the first place. In most cases the builders built the way they were told to. It is the building codes at fault and the only body to be held accountable is the Government. Downloading this responsibility to societies seniors or those falling on hard times is unconscionable.

Sean Wiens

President – SENWI House Inspections"

Give your empty head a shake Sean! It's the Government’s fault that it rains in Vancouver?? Taxpayers bail out Governments so when you suggest that the Government should pay, you’re saying that I should pay. What's unconscionable is jerks like you suggesting that it was somehow the Government’s fault (because they have the deepest pockets) that people were stupid enough to buy leaky condos. I wouldn’t take a condo in this city (or any other city for that matter) if it was free, and I’m certainly not willing to pay for someone else’s stupid mistake (i.e: the moron who bought the condo in the first place).

Current score: 3 (to vote for this comment, please visit the site)

]]> By: Sean Wiens http://vancouvercondo.info/2009/08/leaky-condos-tourists-hst-forecasting.html#comment-50312 Sean Wiens Fri, 07 Aug 2009 20:50:52 +0000 http://vancouvercondo.info/?p=1302#comment-50312 We need to hold the Provincial Government accountable for the fact that their prescriptive building codes is what caused the leaky condo problem in the first place. In most cases the builders built the way they were told to. It is the building codes at fault and the only body to be held accountable is the Government. Downloading this responsibility to societies seniors or those falling on hard times is unconscionable. Sean Wiens President - SENWI House Inspections <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-50312">-1</span> <small>(to vote for this comment, please visit the site)</small></p> We need to hold the Provincial Government accountable for the fact that their prescriptive building codes is what caused the leaky condo problem in the first place. In most cases the builders built the way they were told to. It is the building codes at fault and the only body to be held accountable is the Government. Downloading this responsibility to societies seniors or those falling on hard times is unconscionable.

Sean Wiens

President – SENWI House Inspections

Current score: -1 (to vote for this comment, please visit the site)

]]> By: gorky http://vancouvercondo.info/2009/08/leaky-condos-tourists-hst-forecasting.html#comment-50246 gorky Thu, 06 Aug 2009 13:08:12 +0000 http://vancouvercondo.info/?p=1302#comment-50246 real world example: we're renting a beautiful garden level suite in a house for just under 1300 a month, ALL inclusive (cable, www, heat, water...everything). It's ~1200sqf or so with one large and a smaller den like bedroom (our guestroom for visitors, soon to be kid's room), living room with fireplace. We get to use the whole, rather large Garden for ourselves for planting things like tometoes, salad ect., BBQ parties or just to hang out with our little one. In the meantime the landlords are working both their asses off to pay for the house (North V., 650K, bought 1.5 years back), they don't even have time to ever use their garden. Anyways, this is easily be doable with family income of 75K while still being able to stash away some money. In our case what's really noticeable is that the quality of life we enjoy is waaaay better than our landlords' as they struggle to get by, making the payments. And isn't that what it's all about - quality of life. If renting allows for better quality of life compared to owning then I'll rent forever, simple as that. Oh yeah and the landlords are obviously in charge of shoveling snow, cleaning common walkways, paying for repairs....nice! So in a way they are mortgage slaves but also ours ;-) ...and yes, they do drive an SUV bought new not too long ago. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-50246">1</span> <small>(to vote for this comment, please visit the site)</small></p> real world example: we're renting a beautiful garden level suite in a house for just under 1300 a month, ALL inclusive (cable, www, heat, water…everything).

It's ~1200sqf or so with one large and a smaller den like bedroom (our guestroom for visitors, soon to be kid's room), living room with fireplace. We get to use the whole, rather large Garden for ourselves for planting things like tometoes, salad ect., BBQ parties or just to hang out with our little one. In the meantime the landlords are working both their asses off to pay for the house (North V., 650K, bought 1.5 years back), they don't even have time to ever use their garden.

Anyways, this is easily be doable with family income of 75K while still being able to stash away some money. In our case what's really noticeable is that the quality of life we enjoy is waaaay better than our landlords' as they struggle to get by, making the payments. And isn't that what it's all about – quality of life. If renting allows for better quality of life compared to owning then I'll rent forever, simple as that. Oh yeah and the landlords are obviously in charge of shoveling snow, cleaning common walkways, paying for repairs….nice! So in a way they are mortgage slaves but also ours ;-)

…and yes, they do drive an SUV bought new not too long ago.

Current score: 1 (to vote for this comment, please visit the site)

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