The maintenance fee for 208-7220 Lindsay Road is higher at $450.56, but covers property tax, water, heat and hot water. The monthly maintenance fee for 1003-1330 Harwood Street is $321.80. The studio property measuring 430 square feet sold for $302,888. To show an example, Hutchinson cited the Masale of 1003-1330 Harwood Street in the West End. “It really depends which location works best for you because both options provide affordability in an expensive market,” Hutchinson told the Straight. Hutchinson also noted that prices in Richmond are a lot more affordable compared to Vancouver. The West End is home to many leasehold properties in Vancouver. When told about Sussex Square, the Sutton Group-West Coast Realty agent noted that leases at this building expire in 2087 compared to 2073, the year when most leaseholds expire in the West End neighbourhood of Vancouver.
“It all goes into doing your due diligence, and finding the right fit for you and your budget, and how much you'd like to take on.” “What’s a good deal?” Hutchinson asked in a Jreport by the Straight. In a previous interview, Vancouver realtor David Hutchinson indicated that leasehold offers a more affordable way of getting in the real-estate market. This one-bedroom Sussex Square unit at 106-7240 Lindsay Road listed on for $199,000. There are also two- and three-bedroom units at the condo building, and are available for less than $300,000. This Sussex Square offering expires on August 15, 2022. The one-bedroom unit listed on May 17 with an asking price of $199,000. Prospective buyers may want to check out 106-7240 Lindsay Road. This 622-square-foot unit is located on the ground floor, and it had an asking price of $197,000.
Previously, on March 3, another one-bedroom unit at Sussex Square at 108-7280 Lindsay Road sold for $190,000. “This is one sweet suite!” the listing said about the 634-square-foot overlooking a neighbourhood school park. The 208-7220 Lindsay Road condo spent seven days on the market, and it sold on May 11 for $194,000. On May 4 this year, a one-bedroom unit at the building listed for $199,000. In the case of Sussex Square, the leasehold has been paid in advance until 2087. Ownership is leasehold, which means that the owner can use the property for a long, but limited, period of time. Sussex Square was built in 1974, and it has 216 units, based on information from the condos.ca site. It's a complex of three-storey buildings located at 7180-7280 Lindsay Road. That would be Sussex Square, a low-rise development in Richmond’s Granville neighbourhood. The Straight went looking for the needle in the haystack, and found one in Richmond. In Abbotsford, it’s 0.26 percent, and in Richmond, it’s even less at 0.17 percent. In Surrey, homes priced at less than $200,000 account for just 0.46 percent of homes for sale, and Point2 noted that most of them are manufactured homes. “These needles in the haystack account for less than 1% of the entire stock for sale,” Point2 Homes stated. Moreover, “data shows that housing options for less than $200,000 are incredibly scarce in the top 50 largest and most expensive cities”.
“In fact, only about 10% of all homes for sale in Canada are less than $200K - and very few of them are in major cities, where median home prices are exploding,” Point2 Homes reported. The Saskatoon-based digital platform for real-estate searches stated that the “reality is that $200K isn’t enough to land a home in almost any of Canada’s most coveted cities”. “Although not the lowest figure, $200,000 (about one-quarter of the average national home price) is a suitable reference point to gauge the share of what is now referred to as an ‘affordable listing’,” Point2 Homes noted in its May 24 report. A recent report highlights Canadian housing unaffordability by showing how it is “almost impossible” to find a home for less than $200,000.
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