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

Blog by Ian Watt

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Maybe a Co-op is a Better Route Than A Vancouver Condo For You

Vancouver Condo Real Estate Video Blog #563 - June 10, 2010

Maybe a Co-op is a Better Route Than A Vancouver Condo For You

Ian Watt video blogs about how the alternative of purchasing a co-op might be a better deal for you if you are looking for a pied-a-terre rather than a Vancouver condo. However, there are some restrictions and financing obstacles that you will have to look in to. 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. People e-mail me all the time they always say “Hey if you know of any deals I'm looking to pick up something $300,000 dollar, two bedroom or a large 800 sq. ft., one bedroom and let me know if you see anything like that”. Well the thing is, Downtown Vancouver, is such a mature market and there's a very very few great unbelievably 20% off discounted deals out there. But one thing I think people always over look are Co-ops. Co-ops are so overlooked because they are a great deal. They only catches chances are you gonna need a high amount of money down. Not really perfect for the first time buyer and it's definitely not good for the investor because chances are there are rental restrictions on Co-ops. But for owner occupied places you can get great deals in the $300,00 dollar range instead of getting the comparable unit in a strata condominium for about 500,000 is really quite interesting. You might want to check your co-ops if you have 30-35% to put down. My name is Ian Watt. And you have any questions, you could always e-mail me at ianwatt@ianwatt.ca. Thank you very much and have a great day.