My name is Ryan Dash and I’m a Real Estate Agent with Oakwyn Realty. Today I’ve picked 2 property types to consider – A house and a bigger condo! Both in different areas and couldn’t be more different for very different reasons! With that being said, I believe both will be very good investments in the long run. Let’s see why:
No.1 : First we have Unit 603 -1887 Crowe St. in Olympic Village. This property is listed by a very good colleague of mine Chris Tioseco and I love this listing for many reasons but primarily because:
It’s a big 3 bedroom in the heart of the village. 3 bedroom condos are already very hard to find in Vancouver and will almost certainly become more and more valuable as the search for more space gets tighter. Since Covid, we are finding Buyer’s needs have changed with many of them now having to work from home expect. As such, expect the demand for larger, 2 and 3 bedroom condos climb in value as their space is re-purposed to include working from home. Furthermore, OV has a future hospital being built around the corner and as such the neighborhood will attract well paid Renters and future home owners.
No.2: Second we have single family homes. It’s my perspective that since the outbreak of Covid-19, coupled with political unrest throughout Hong Kong and parts of the States, the demand for this property type is changing and is arguably undervalued. Expensive? Yes, but that’s because of income disparity.
Single family homes, with outdoor space, proximity to transit and in areas with great ameneties will become even more popular for growing families now facing a potential second lock down in the winter or permanently working from home. We have clients that are trying to avoid living in attached spaces and making a stretch to get into the single family market. That’s why I like places like 11620 Pintail St. in my home town of Steveston.
Listed by the Patti Martin Group, the home measures nearly 2,500 sqft and sits on a 7,000sqft corner lot. This home is ripe with future equity. The home is need of some refurbishment I’ll admit, but at only $600 a sqft – it has tremendous upside on a 5 to 10 year hold.