Short term rentals are forbidden now, but you’d be surprised at how many purchaser occupiers reside in these units. Single seniors like them, and young professionals just trying to get their foot through the door like them, too.

If you qualify to buy at 5-10% the DP is quite reasonable on a $250k unit.

And some people just prefer new homes. Yes, you can buy a $300k 1BR in the core, but what condition is that 40 year old building in? And how far away is that special assessment for a roof job, or an elevator replacement, or new windows, or new plumbing stacks? And chances are strata fees are already high to pay higher maintenance costs and repairs of an aging building.

Fair enough. I'd imagine young buyers can grow out of the unit then rent it out, although to me personally living permanently in a micro-suit in a city as small as Victoria would feel pretty claustrophobic.

Fair enough. I'd imagine young buyers can grow out of the unit then rent it out, although to me personally living permanently in a micro-suit in a city as small as Victoria would feel pretty claustrophobic.

That's what I did. Bought a 500 sq/ft pre-sale unit at 834 without parking in 2009 for $198k. Lived in it a few years and it's been an excellent rental ever since then. Mind you right now I live in 1,000 sq/ft and it's 300 sq/ft too much. My ideal size is 700 sq/ft one bed+den but I was super comfortable in 500 sq/ft as well.

That's what I did. Bought a 500 sq/ft pre-sale unit at 834 without parking in 2009 for $198k. Lived in it a few years and it's been an excellent rental ever since then. Mind you right now I live in 1,000 sq/ft and it's 300 sq/ft too much. My ideal size is 700 sq/ft one bed+den but I was super comfortable in 500 sq/ft as well.

What happened to the 5000 sq ft house?

What happened to the 5000 sq ft house?

What happened to the 5000 sq ft house?