I finally have some good news to post! As I mentioned before, I had my townhouse up for sale (in North Vancouver) for a little over two months, dating back to the beginning of April. I’ve been holding off mentioning it, but I guess it doesn’t hurt - it finally sold about two and a half weeks ago. I have to say it feels like the giant gorilla has finally jumped off my back — after nine weeks of stress, it’s nice to have a firm deal in place. I had several offers, a couple coming on the same day at the very end, and I did end up getting my asking price; all things considered, it worked out quite well for me. I guess the strain of almost daily showings and weekend open-houses was worth it; I really have to thank my mom and Kathy Major for getting the deal done without any hassles.

The closing date is coming up soon (early July), so I’ll be moving back in with my parents (!) for a little bit, while I hunt for a new apartment. I’ve been browsing around a bit, primarily looking in North Van (lower/central Lonsdale area), but I’m also interested in Kitsilano, downtown, and the Brentwood area of Burnaby. It all really comes down to availability and price — the housing market may be great for sellers right now, but it’s definitely not affordable for buyers.

Prices for the market segment I’m looking at have gone up anywhere from 50-100% over the course of the last three years (my place being a good example, having gone up in price exactly 50% since I bought it in the spring of 2003.) What used to be affordable for a single person has become a major financial strain, unless you’re really well-off or you’re buying something that’s quite old and in need of a lot of work. The tradeoff I’m seeing right now is space vs. age; for the same price, I can buy a 600-700 sq. ft. 1 bedroom apartment that’s less than 5-10 years old, or I can buy a 900-1000 sq. ft. 2 bedroom apartment that’s in the 25+ years old range. I haven’t seen much middle ground so far, probably because there seems to be a glut of brand new and somewhat older places on the market in North Vancouver, but not much in the 10-20 year old range. Maybe that’s an indicator of something, or maybe it’s just random chance.

That leaves me in the (un?)enviable position of not paying rent or a mortgage while living back at home for the next month or two. Of course, I’m throwing about 3/4 of the junk I own into storage for the duration, but hopefully I can save a little money while I hunt for the perfect apartment. Around 850-1000 sq. ft. would be ideal, but I think I may have to settle for a little less if I want something that’s in really good shape. Either that, or I should probably be prepared to do even more home renovating…

Anyhow, suggestions are always welcome. :)

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Posted in General, Real Estate |

Tags: townhouse, home, sold, north+vancouver, real+estate