If you’re looking to buy a house, odds are that you know everything there is to know about the market. After all, when you’re searching for a lifelong investment, you need to make sure that you are getting into the right place. It could determine how the rest of your life goes. Not to put too much of a negative spin on it, or anything, that is. If you are looking at Vancouver as a place to live, you can see that the prices are climbing to ridiculously high limits that mean most of them are entirely out of the question, even if you have a high limit. To put it into perspective, let’s look at different real estate markets from around the world that are offering homes for the same price.
According to Eddie Yan, a Vancouver realtor, in Vancouver, you can get a 1700 sq foot home with four bedrooms for one million dollars. This particular house is a short 6 km from the core centre of the city, but still, this is a high price for a home that isn’t especially beautiful or anything other than practical.
Now, a little further field, there is a home in Calgary Alberta for the same asking price that is a sight to see with an entirely modern look and three bedrooms. It is close to 2500 sq feet and offers a sleek home to anyone who doesn’t mind being as close as 3.5km from the city’s core. Close by in Alberta, this is already a huge difference in quality when comparing it the Vancouver option. Let’s try looking even further.
In Seattle, Washington, there is a gorgeous three-bedroom home with 3200 sq feet that is located less than 6 km away from the centre of the city. Pricing in at just under one million dollars, it has beautiful landscaping and a rich interior design that will please any house hunter to the gills. You can see the pattern as we continue to look at homes, right? Let’s keep going.
Vancouver, it seems, has a house market similar to Los Angeles, as there is a home that is less than 8 km away form the core of the city and it is for just under one million dollars with 1700 square feet and three bedrooms. For those that are looking to compare two high market homes, this would be the most drastic way to do it. Sure, Vancouver is a happening spot, but should it really be comparative to Los Angeles?
To continue the pain even more, there is a gorgeous 5000 sq feet home that is less than 15 km from the centre of the city that has four bedrooms and is a sight to see. There is no comparing it to the small Vancouver option that we saw earlier, which is looking worse and worse as we continue to look.
Last but not least, there is the five bedroom home located in Halifax, Nova Scotia, which is 3 km from the city’s centre and has just under 5000 sq feet in room. This may not be a glamorous location like Los Angeles, but it’s a nice place to live, and it’s inspiring to see the old architecture that would make it a great B&B if it were snapped up by the right people.
As you can see, there is no end to the pain that Vancouver home-searchers are feeling as they scan the list of available lots with rising eyebrows. The idea that anyone would have to pay one million dollars for something as modest and small as a big, rolling home somewhere else in the world is ridiculous and is the fact that is driving many people out of the market, to wait until things quiet down for good. No matter how you look at it, the prices are high, and everyone is waiting with bated breath to see when they quiet down. Until then, take a look around at all the homes in North America that you could be spending your money on…