Check Google Page Rank

Link,Tweet, Digg, Facebook, Tumble - whatever - Raise the Rank!

New Units Added to Inventory – Live At Balance!


Live at Balance!

Balance is a new project at the corner of Grosvenor and Whalley Boulevard. That’s basically 108 and King George. Depending on how you want to go it’s either crack central or an up and coming part of Surrey. It means 56 new units added to inventory.

Floorspace ranges from 307 sq. feet to 765 sq. feet. Prices start at either $109,900 or $119,900, depending on whether you go by the sign or the website.

You can buy with as little as 2% down.

The price, of course, is very attractive. There isn’t much you can buy anywhere for just over $100,000. However, the size is….tiny. These are 20% smaller than a conventional bachelor. The project is a good example of making real estate affordable by reducing the amount of it being sold.

Would these be a good investment? If you don’t mind riding Skytrain (which is close) and want a place to call your own you could sleep in Whalley while living the majority of your life in Downtown Vancouver (don’t laugh – there are already people doing exactly this). You could realistically be owning for about $700-750 per month.

Is 307 sq. feet worth $750/month? I couldn’t rent one for that price (and remember, I actively manage hundreds of rental properties). I could, maybe, rent 307 sq. feet for $500/month. Once you factor in taxes and strata fees you’d need well over 50% down to break even. Purchase price exceeds fundamental valuation from the word go.

Comments are closed.