[Surrey] University District | 67 & 82 m | 26 & 32fl | U/C

[e-clam9]

Originally Posted by AlexYeh

I got a call from one of the sales confirming previews will begin at the end of this month.

They don't have much info yet. I hope their price include parking stall. I visited Park George today. Their estimated price is as much as the recent pre-sales of other new condo here but NOT including parking stall or locker !! Those are additional $25K-$30K and $5K-$6K respectively. It is another way to make more profit without raising condo price .... Not good.

[Shift]

New rendering:


http://bosaproperties.com/projects/u...ty-district--2

[AlexYeh]

Floorplans and new renderings released today,

https://storage.pardot.com/321631/52...an_Package.pdf

Starting price for a studio is $329K not including parking! Looks like it will have BosaSpace features.

[Cypherus]

Originally Posted by AlexYeh

Floorplans and new renderings released today,

https://storage.pardot.com/321631/52...an_Package.pdf

Starting price for a studio is $329K not including parking! Looks like it will have BosaSpace features.

Thank you for sharing. Looks like they are kicking off with the North Tower first. Liking the 2 bedroom suites but those are likely in the $600K+ range for upper floors. They'll have some competition with Park George but their timing for market release was perfect as competing developments (Linea, The Hub, Park Boulevard, and Avani) are already mostly sold off.

[EhJay]

Based on the floor plan, is the Master Bedrooms being designed with no closet, but rather two cabinets on either side of the bed?

[AlexYeh]

Originally Posted by EhJay

Based on the floor plan, is the Master Bedrooms being designed with no closet, but rather two cabinets on either side of the bed?

Yep, unfortunately most new bosa homes are designed like that...

[Galaxy]

Originally Posted by e-clam9

They don't have much info yet. I hope their price include parking stall. I visited Park George today. Their estimated price is as much as the recent pre-sales of other new condo here but NOT including parking stall or locker !! Those are additional $25K-$30K and $5K-$6K respectively. It is another way to make more profit without raising condo price .... Not good.

Although if the person buying a unit and living in it is a young person that doesn't own a lot of things and doesn't have a car the added savings of not having to pay for these amenities makes sense. If a person has a lot of things and multiple cars they could have the option of purchasing multiple units as well.

[retro_orange]

Originally Posted by Galaxy

Although if the person buying a unit and living in it is a young person that doesn't own a lot of things and doesn't have a car the added savings of not having to pay for these amenities makes sense. If a person has a lot of things and multiple cars they could have the option of purchasing multiple units as well.

Yes because everyone who has the ability to own a car (myself included) has the ability to not only buy one overpriced unit out in Surrey but multiple units? Please.

[EhJay]

Originally Posted by AlexYeh

Yep, unfortunately most new bosa homes are designed like that...

That would opt me out then. I can't understand the logic behind that. It looks cheap and feels unfinished. Maybe I'm too old school.

[w34lth]

I was pissed off about the price at first when I purchased multiple spots at Prime ranging between 18-20k.

Now that I see park george selling for 30k.... I dont mind so much lol.

think of it as an investment (if you can afford it)

[Nites]

Originally Posted by w34lth

I was pissed off about the price at first when I purchased multiple spots at Prime ranging between 18-20k.

Now that I see park george selling for 30k.... I dont mind so much lol.

think of it as an investment (if you can afford it)

How much are you planning on renting the stalls out for? I did a quick craigslist search but can't find much for surrey. However, I did find that people are selling parking stalls at Telus Gardens and Hotel Georgia for $300 a month lol.

[w34lth]

Originally Posted by skymaster

How much are you planning on renting the stalls out for? I did a quick craigslist search but can't find much for surrey. However, I did find that people are selling parking stalls at Telus Gardens and Hotel Georgia for $300 a month lol.

I know of others renting stalls in the area for approx $100+/month right now.

SFU is supposed to be sharing the parking lot, so maybe rent it out to a student or my tenants.

$300/month compared to other major cities is incredibly low for the DT core.

NY for example is $150,000+ to just purchase one.

[EhJay]

So $100 per month..for a 30k parking stall? That's 25 years just to break even on it. And I can't see it adding that much in value to a unit. Maybe make resell SLIGHTLY easier.

[w34lth]

Originally Posted by EhJay

So $100 per month..for a 30k parking stall? That's 25 years just to break even on it. And I can't see it adding that much in value to a unit. Maybe make resell SLIGHTLY easier.

great math, please read my posts in full.

i purchased the stalls between 18-20k.

I already made 10k min per parking stall. That goes into my pocket despite the $100/month that will come in once I rent out the units.

[EhJay]

Originally Posted by w34lth

great math, please read my posts in full.

i purchased the stalls between 18-20k.

I already made 10k min per parking stall. That goes into my pocket despite the $100/month that will come in once I rent out the units.

I read what you wrote. What I still said holds completely true. Unless you are flipping a stall for a tonne in the future, it's not a very good ROI.
How did you make 10k in a few years while charging $100 per stall per month? That's $1200 per year. If you purchased at 18k it would take you 15 years just to break even.

[Cypherus]

Originally Posted by w34lth

great math, please read my posts in full.

i purchased the stalls between 18-20k.

I already made 10k min per parking stall. That goes into my pocket despite the $100/month that will come in once I rent out the units.

Maybe I am not understanding: If you indicated you purchased the stalls at Prime for 18-20K, how can you feasibly make $10K when the building is under construction?

Even if the stalls are related to another condo even though you have not explicitly mentioned the condo(s), $1,200 a year is only a 6% return on your $20,000 investment, before taxes. After taxes (assuming you report your rental income and at a top tax bracket of 49% since your username is Wealth and you buy parking stalls of all things....), that is a 3% ROI. You can get better rates of return in a TFSA GIC.

[retro_orange]

Originally Posted by Cypherus

Maybe I am not understanding: If you indicated you purchased the stalls at Prime for 18-20K, how can you feasibly make $10K when the building is under construction?

Even if the stalls are related to another condo even though you have not explicitly mentioned the condo(s), $1,200 a year is only a 6% return on your $20,000 investment, before taxes. After taxes (assuming you report your rental income and at a top tax bracket of 49% since your username is Wealth and you buy parking stalls of all things....), that is a 3% ROI. You can get better rates of return in a TFSA GIC.

Bingo. It's obvious who has a vested interest in ensuring the insane property prices keep going up.

[w34lth]

Originally Posted by Cypherus

Maybe I am not understanding: If you indicated you purchased the stalls at Prime for 18-20K, how can you feasibly make $10K when the building is under construction?

Even if the stalls are related to another condo even though you have not explicitly mentioned the condo(s), $1,200 a year is only a 6% return on your $20,000 investment, before taxes. After taxes (assuming you report your rental income and at a top tax bracket of 49% since your username is Wealth and you buy parking stalls of all things....), that is a 3% ROI. You can get better rates of return in a TFSA GIC.

Originally Posted by retro_orange

Bingo. It's obvious who has a vested interest in ensuring the insane property prices keep going up.

Prime called me a couple months back asking if we wanted to purchase additional parking @ 30k - (as you stated for a incomplete building.)

I am not concerned about the 1200/year income on my parking spot. I am looking on making a profit when I sell the unit in 10+ years.

I personally can't see the value of a parking spot in this area or any area that's developing with sky trains decreasing in value. Do you??

in terms of "insane property prices keep going up". DAMN RIGHT I DO!! I AM HERE TO MAKE MONEY!!!

Don't get me wrong it does suck for those who cant afford it, however that is not my concern.

E-mails like this however make me smile =)

[retro_orange]

Originally Posted by w34lth

Prime called me a couple months back asking if we wanted to purchase additional parking @ 30k - (as you stated for a incomplete building.)

I am not concerned about the 1200/month income on my parking spot. I am looking on making a profit when I sell the unit in 10+ years.

I personally can't see the value of a parking spot in this area or any area that's developing with sky trains decreasing in value. Do you??

in terms of "insane property prices keep going up". DAMN RIGHT I DO!! I AM HERE TO MAKE MONEY!!!

Don't get ,e wrong it does suck for those who cant afford it, however that is not my concern.

E-mails like this however make me smile =)

Tremendous.

[Bombaman]

The next phase of Blue Sky.