[Surrey] Park Avenue | 124m & 118m | 36 & 40 Floors | Complete - Page 22

GMasterAres · #**421** Posted **Mar 4, 2015, 3:08 PM**

Yes seems to be a Concord thing. I want to see a display unit when I go not a fabrication I need to use my imagination in. Especially in a building you are buying from plans. The point is to see actual finishing quality and build quality. All of Concords displays are not accurate even downtown.

rokim99 · #**422** Posted **Mar 19, 2015, 2:14 PM**

What are pros of buying a suite higher up? Say like 35 + floors. What is the cons?

Nites · #**423** Posted **Mar 29, 2015, 10:42 AM**

Quote:

Originally Posted by rokim99

What are pros of buying a suite higher up? Say like 35 + floors. What is the cons?

Pro's:

-Better View
-You hear less street noise (Cars, Skytrain, People, etc)

Cons:

-Price
-Longer elevator wait time

WarrenC12 · #**424** Posted **Mar 29, 2015, 4:35 PM**

I think the street noise issue is dependent on other factors. If you are in a sea of towers, the noise can really echo up high.

GMasterAres · #**425** Posted **Mar 29, 2015, 6:29 PM**

A few more pros and cons depend on what you want to do with the condo:

Pro:

Higher = sell for more so from an investment purpose for selling your property, you will gain more value from buying higher up.

Con:

Lower rent to cost ratio when you buy higher in most places except downtown Vancouver. Meaning, rent doesn't typically increase the higher you go up in a tower proportional to the premium the owner pays.

For example if you buy a place for $200,000 on floor 10 but someone else buys a place for $203,000 on floor 11, both will likely rent for the same amount even though the floor 11 unit was purchased for more.

If you scale that up to the 30th floor, that person buying the same unit as floor 10 just higher will not be able to rent it out substantially higher to account for the premium they paid.

So if you want to just rent out your place, you'd want for the most part to buy a property lower down in the tower as you ultimately will have less mortgage and can rent for roughly the same as any other similar unit in the same building.

If your purpose though is to ride property value increases while renting and to eventually sell your property to earn profit, then higher floor will benefit you in the long run.

rokim99 · #**426** Posted **Mar 29, 2015, 7:18 PM**

Quote:

Originally Posted by jhausner

A few more pros and cons depend on what you want to do with the condo:

Pro:

Higher = sell for more so from an investment purpose for selling your property, you will gain more value from buying higher up.

Con:

Lower rent to cost ratio when you buy higher in most places except downtown Vancouver. Meaning, rent doesn't typically increase the higher you go up in a tower proportional to the premium the owner pays.

For example if you buy a place for $200,000 on floor 10 but someone else buys a place for $203,000 on floor 11, both will likely rent for the same amount even though the floor 11 unit was purchased for more.

If you scale that up to the 30th floor, that person buying the same unit as floor 10 just higher will not be able to rent it out substantially higher to account for the premium they paid.

So if you want to just rent out your place, you'd want for the most part to buy a property lower down in the tower as you ultimately will have less mortgage and can rent for roughly the same as any other similar unit in the same building.

If your purpose though is to ride property value increases while renting and to eventually sell your property to earn profit, then higher floor will benefit you in the long run.

Ah that's good to know... more questions.. is it true than that 1 bedroom condos are A LOT harder to sell than 2 bedroom condo ?? like for example if i buy a 1 bedroom condo on 38th floor is that a bad purchase ?

Nites · #**427** Posted **Mar 30, 2015, 6:47 AM**

Quote:

Originally Posted by rokim99

Ah that's good to know... more questions.. is it true than that 1 bedroom condos are A LOT harder to sell than 2 bedroom condo ?? like for example if i buy a 1 bedroom condo on 38th floor is that a bad purchase ?

Not true at all.

artmarkii · #**428** Posted **Apr 26, 2015, 7:29 AM**

Since this thread has been pretty quiet for this month I'd figured that I'll post an update of the project's progress. Here are some photos I took on April 25.

officedweller · #**429** Posted **Apr 27, 2015, 8:46 PM**

Thanks for the update!

artmarkii · #**430** Posted **Apr 27, 2015, 11:52 PM**

You're welcome officedweller. I walked by the site today and it seems as though nobody is working on the east tower while all the work seems to be focused on building up the below ground levels for the west tower. All the workers and the concrete pouring was going on in the west side of the site.

GMasterAres · #**431** Posted **Apr 30, 2015, 1:02 AM**

Quote:

Originally Posted by rokim99

Ah that's good to know... more questions.. is it true than that 1 bedroom condos are A LOT harder to sell than 2 bedroom condo ?? like for example if i buy a 1 bedroom condo on 38th floor is that a bad purchase ?

I don't think that's true at all. Renting isn't the same as selling, but I put my unit up for rent again as my tenant wanted out and had 18 people call me interested in 2 weeks... so I doubt I'd have huge difficulty in selling it to at least someone interested in a rental unit if I ever decided to.

GMasterAres · #**432** Posted **Apr 30, 2015, 1:04 AM**

Quote:

Originally Posted by artmarkii

You're welcome officedweller. I walked by the site today and it seems as though nobody is working on the east tower while all the work seems to be focused on building up the below ground levels for the west tower. All the workers and the concrete pouring was going on in the west side of the site.

I think you're confusing the two. The tower closest Whalley Boulevard is actually West. East tower is the one above ground and they have poured the second floor and working on the third floor.

That said, I drove by today on my way home from work and they had 2 trucks pouring concrete into the "hole" where the west tower is going to be (the one not above ground yet). As I mentioned in the 3 Civic thread, construction doesn't = workers constantly visible standing there doing a bunch of things.

officedweller · #**433** Posted **May 28, 2015, 11:32 PM**

From SSC May 27th:

Quote:

Originally Posted by clee02

IMG_1972 by Clement Lee, on Flickr

CoryHolmes · #**434** Posted **May 29, 2015, 1:52 AM**

They're making fabulous progress on this one. Every time I go by, it seems like a new floor has grown.

Nites · #**435** Posted **Jun 7, 2015, 8:12 PM**

Seems like the east tower is going up extremely quick now.

Shift · #**436** Posted **Jun 20, 2015, 4:13 AM**

Update from today.

artmarkii · #**437** Posted **Jun 20, 2015, 6:27 AM**

Wow nice progress, this one is going up much faster than 3 Civic Plaza.

Nites · #**438** Posted **Jun 20, 2015, 6:33 PM**

On that picture that was taken at the end of May they were working on the 5th it seems as if they are already on the 10th.

CurtisVerbatim · #**439** Posted **Jun 20, 2015, 11:51 PM**

They've started installing glass already

GMasterAres · #**440** Posted **Jun 21, 2015, 8:14 AM**

They are working on the 9th floor I counted today while stopped at the WBV and 100 intersection. So generally on a 1 floor a week pace looks like if not a bit quicker and yes glass being installed on the second floor (first residential floor). At the current pace they will top out spring next year.

Second tower is almost to ground level.