Pounding the Pavement

I’m trying to find a way to stay in Van. A 1br apartment is over 400k with expensive strata fees and a house is around and over 2 mil. I saw a few homes around 350k and felt excited until I read it’s only for people 55+. I felt frustrated because someone over 55 is selling their home for between 400k to 2mil and buying a much cheaper home for 350k with a potentially hefty profit. I’d like to be able to afford a home that can’t be taken out from under me. How is it possible?

8 Comments

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Yes and No

Jan 19, 2024 at 10:45am

Yes, it's a housing crisis, the worst I've ever seen. But I don't think people over 55 always have a home to sell. Maybe like myself, they've rented for a lifetime and were finally able to pull off ownership (way out of town and away from family and support), after working to the max for decades. Or if they do cash out on a home, they will need that money to sustain themselves when they age out and their health starts to fail. No one wants to be a surprise burden on others. I suspect upcoming generations will not live longer, healthier lives as we're lead to believe, and as I'm witnessing in my peer group (70s).

7 1Rating: +6

Problem Solved

Jan 19, 2024 at 2:51pm

You already found the solution to your problem in the first sentence. you said that you want to "find a way to stay in Van". So... DO IT! Stay in a camper van in Vancouver! It can be a Van-van.

6 6Rating: 0

Sorry about that

Jan 19, 2024 at 3:23pm

We seniors also need a place to live and most of us have raised our kids and prefer some peace and quiet in our old age. I know young people need a place to live too, but not all seniors own a house and lots of us bought condos before the market really went nuts. Being old is hard enough and if we want to be able to rest without being woken up by screaming kids and parties, that’s our right.

9 3Rating: +6

It’s not

Jan 19, 2024 at 6:06pm

Possible, that is. If you don’t have a LOT of money you’ll need to look somewhere else to buy a place. Too much corruption ruined the real estate market for anywhere in the world that people actually want to live in. Especially here, where the corporate greed made it so easy for the market to be easy pickings for anyone who had enough money to buy a place just for an investment and not to live in. Real estate here has become nothing but a commodity and not a home for people. Look somewhere else.

8 2Rating: +6

WTH?!

Jan 19, 2024 at 10:34pm

Why is this post being downvoted, the cost of living is astronomical for a second tier city.

8 3Rating: +5

@OP

Jan 21, 2024 at 9:17am

Hate to break the news to you, but you're about 10-20 years too late.
If you can- get out of here and go to the US, or other countries.

5 2Rating: +3

So, true

Jan 22, 2024 at 2:21am

Like there are always awesome looking places at Tapestry in Yew Street only for 60+. I'm in my 40s but have a disability. There is NOWHERE for people like me. I can still bathe and fee myself so can't go into a care home, but during sporadic flares I need help. Meanwhile I know, people in their 70s going on 5 day kayak trips who get the good prices.

4 2Rating: +2

Interesting

Jan 22, 2024 at 6:26am

I live in a 2 bdrm/bath condo that was 6k and the strata fee is less than $500 (which I wouldn’t consider expensive… definitely a lot cheaper than what renting it would be).
Are you looking at just new condos?

4 2Rating: +2

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