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Ian Watt Personal Real Estate Corporation - Sotheby's International Realty Canada

Blog by Ian Watt

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Developer SPAM & Vancouver Condo PreSale Hype

Vancouver Condo Real Estate Video Blog #550 - May 17, 2010

Developer SPAM & Vancouver Condo PreSale Hype

Ian Watt video blogs about how he constantly gets Developer SPAM & Vancouver Condo PreSale Hype when it is completely misleading on what the actual price you are paying for a presale compared to a condo that is already for sale in the Vancouver downtown core. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs.

 


Ian Watt: Hi Good Afternoon, it's Ian Watt in Downtown Vancouver. I got spammed yet again from a developer. About their project in Downtown Vancouver and its the lowest price per square foot of any presales in Downtown Vancouver its so they say. One bedrooms starting at hold on one second I just gonna make sure I get this I think it was around 275 mark. I looked a little deeper I thought how could that be. First of all its not even in Downtown Vancouver its outside of the Downtown core. Second of all its the open plan one bedroom and its 430 square feet. Now last I checked that was a studio but they have a glass partition that slides I guess but that in my books well I guess maybe I'm a little bit old. But five years ago that was "junior one bedroom" so first of all that sounds like a fantastic price, however a lot of this places don't come with parking that's an additional $30,000 dollars. But read all the find print think about of how much your paying on top of it. I know I sound like a broken record when regards to presales but think about this. If its $275 dollars plus 30,000 for parking your at $300,000 dollars plus 12% tax plus property transfer tax. Your about your about I guess about 330-ish with all your fees and all those kind of things. And that's not even in Downtown Vancouver and its still 430 square feet. Look into it the chances are this little spammy mails that come up from developers are really garbage. There's a lot of fantastic stuff on the market right now take your time look around don't buy a presale. My name is Ian Watt and if you have any questions. You could always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!