I’ve always known that I wanted to invest in a condo in his City that I really loved. I think it’s a really neat type of investment, because you can rent it out to a long-term tenant, you can use it as like an AirBnB kind of thing, or you can do a combination of both. Of course, the reason want to do in the city I love, is so that sometimes I can go up and visit myself and have my own place to stay. Also, I can offer it to friends and family, and maybe end up retiring there if I so choose.
There are some cities in the world that I absolutely love more than any other City. In the USA I really love Phoenix, Arizona and Minneapolis, Minnesota. In Canada there is only one city that has truly stolen my heart. Calgary, Edmonton, Winnipeg, Toronto, and Montreal are all pretty good. I’ve never made my way to the maritimes. The city that I love more than any other is Vancouver, British Columbia. There’s something about it that is different than any other City I’ve ever been to. It’s close to Seattle, and similar in some ways, but in my opinion Vancouver edges of Seattle in almost every category.
So, I started looking into purchasing a condo in Vancouver. I contacted a highly-regarded Vancouver Realtor that I found online. He seems like a great guy, and our communication was really professional and exciting. What he told me though is not so exciting… He told me about the insane prices that are currently existing in the Vancouver housing market. I gave a number that was actually higher than I can afford, and he said that there were no condos in the city of Vancouver that would work for me. He did suggest some Burnaby condos for sale, and Burnaby is basically Vancouver in most ways, including the fact that there is very very very little distance between the two cities, they’re even linked up by a train line which only takes about 10 or 15 minutes get from one city to the other. Burnaby has a lot of the best things about Vancouver as well, except the coastline.
But, Burnaby is not what I want. So, if I can’t afford Vancouver, I’m going to reevaluate my options or just wait until that market starts to settle down a bit.