It's clear that Vancouver has some pretty ridiculous real estate prices. In fact, it's the second-least affordable city in the world, after Hong Kong. Whether you are buying or renting in the metropolis, one thing is for sure: you are going to be paying an extravagant price for your lodging.
Take this new listing on the Vancouver market as an example. A small, dilapidated bungalow in the Grandview-Woodlands area of the city is now selling for nearly one million dollars.
The house, on sale now for $999,900, is a shining example of the state of real estate in the city.
The outside could definitely use a little work. I don't know if the grey day the photos were taken on affect our view of the property, or if it really does look that sad.
The property, located on a corner, does have quite a large backyard.
The listing advertises the bungalow in the following way: "OVERSIZED CORNER LOT in prime East Van location with [...] beautiful original Oak flooring with custom inlay, large principal rooms & a cozy wood-burning fireplace." I'm sold!
The bungalow +basement does get a surprising amount of light. I wonder if the sparse decoration makes it look bigger than it actually is...
The home was built in 1928 and has three bedrooms, but only one bathroom. IT also notes that the basement is probably big enough to have a "mortgage-helper" AKA renter since they'd have their own entrance... but there's still only one bathroom and only one kitchen so... you do the math on that
I'm living for this seventies decor. The kitchen is also fitted with retro-looking cabinets and furniture. Though quite small, it does at least look like it has a lot of storage space.
But let's again remember the price is: One. Million. Dollars.
The listing goes on to say that the "corner lot feels HUGE with tons of yard space and parking. Great hold property! Steps from the Rupert Skytrain, amenities, and easy access to Highway 1."
It sounds like this is meant for developers who will tear down the house and build expensive condos more than anything else.
I honestly don't hate the house: it's pretty cute. But would I pay almost a million bucks to live there? Absolutely not.