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How Far is Too Far?

Downtown Location“I’d like to buy a newer home with a decent sized yard on a quiet, tree lined street in a nice neighbourhood, centrally located.” This may sound reasonable until you factor in the price of real estate and the proximity to the city when you are in Greater Vancouver. How much you say? With the typical sale price of a single family home in the region just over CDN $1 Million, it’s just not that easy. On the west side, prices are over $2 Million. If you want a more reasonable price about 1.5 hours commute away in Maple Ridge, the price drops to about $500,000. Buyers have come to realize that living close to the city means making compromises between accommodation and commute time. Buying a condo or townhouse with smaller space but closer in allows more time for self and family. This trade-off may reduce the stress of long commutes and traffic jams. Imagine up to 3 hours per day commuting to and from work, and then driving the kids to their activities! Perhaps this partly explains why more than 60% of our sales are condominiums. This is something to think about as a home buyer. How far do you want to be?

 

--Arthur Ng
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