wildmanyeah
Crew Member
really, ident know you could build a 2500squar foot house for under 100k
Property Assessments
- Thread starter scott craven
- Start date
really, ident know you could build a 2500squar foot house for under 100k
tinboatrobb
Well-Known Member
Up 200,000 over last year. 3 blocks from hillside mall in Victoria. We paid 160,000 in 1995. Not a bad investment
Foxsea
Well-Known Member
Sounds like a pointless depreciated cost...
wildmanyeah
Crew Member
guess it helps keep the assessment down
Foxsea
Well-Known Member
Keep it on the down-low.
wildmanyeah
Crew Member
Keep it on the down-low.
1970s house for the win
pescador
Well-Known Member
Your balance sheet may look strong but unless you plan to cash out and move to Prince George, its only going to benefit your kids and give municipal governments more of your personal wealth thru taxation to squander on special interest groups and other forms of mismanagement. Can you imagine over the last ten years how much in additional home tax the city of vancouver has generated? And they still don't have enough for their progressive ideas....
SpringVelocity
Crew Member
I wouldn't want to be entering housing market right now. Prices on houses are crazy. Ours went up a lot as well.
Copper Moon
Well-Known Member
Up over 51% at our place in Nanoose Bay. Does that mean I'm rich?
Copper Moon
Well-Known Member
Ours is up over 50% in Nanoose Bay. Does that mean I'm rich?
wildmanyeah
Crew Member
i would of been priced out of the market in in if I waited another year
scott craven
Well-Known Member
It's really screwed up, our adult kids can never afford to buy a house in the city they were born in until mom and dad pack it in.
kingblazer84
Crew Member
It’s the same here in the okanagan Scott my wife and I bought 3 years ago I’m 36 now, we bought a manufactured house built in 1994 2 bed and 2 bath with yard and shop and etc. 148k and 3 years later worth 275k atleast maybe even more wouldn’t last 2 days on the market! The stupid thing is all it’s gonna do is drive the young people away to “cheaper” yet crappier areas or even further east! My parents house a beater bought in 1988 for 190k is assessed at 860k now and it’s a tear down! Can’t buy a beater for less then 650-700k and it’ll need 150k in upgrades atleast!
the wages dont follow these numbers and yes guys will argue work harder , get a better job blah blah blah, at the end of the day though EVERYONE should be able to work towards owning a home not just hoping and praying they get a gift from
Their parents!
wildmanyeah
Crew Member
when we bought our first house in 2013, we looked at many foreclosures the market was in the dumps.
it was awkward looking at houses with people still in them.
I regret not buying one but we ended up buying a new townhouse for 330 and got a 10k HST rebate and new buyers grant
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mayday
Active Member
Basically a portion of this - a few years ago I actually appealed our assessment in Burnaby -came prepared with multiple copies of detailed reports showing our house was basically a teardown (based on age, what everyone else was doing) and there was no way an increase of X% (cant remember actual value) was justified - in the end they denied it with something along the lines of "the legislation doesn't allow us to split the assessment between land/buildings. They only show a breakout for illustrative purposes and it's the total value that matters". Too bad they never actually say that on the assessment, would have saved me the time/hassle.
