Buying Property in Vancouver Proper

[bjl85]

Hi Florence,

The condo market in Vancouver is doing good, and already recovering from last year's slowdown.

Are you just looking for a vancouver property that you can stay in while you're in town from time to time? If so, you'll end up having to pay the empty homes tax on it. And if you want to Airbnb it while you're gone, you may have to declare the vancouver property as your primary residence.

While I don't live in Vancouver proper myself, I haven't heard much if anything about theft in parking garages under condo buildings. However, public parking garages are much less safe and have a greater chance of theft, which is why I keep my belongings out of sight.

There's also going to be homeless people all over downtown, but there's usually one on a busy intersection, rather than a large cluster (like in the downtown east side). It's not unlike most other busy cities.

Hope this helps.

 

[EuroSZabina]

You can buy the condo or the house via lease, but you can't own the property itself or land if you are a foreigner. Same for investment purposes. Or you can co-own with a thai person but you have to do some paperwork.

Its the same in Vietnam as well. Foreigners cannot own property or land, but they can lease or rent condos/houses.

I would make sure before I buy something that I'm the land title owner and I'm not just leasing the property.

 

[EuroSZabina]

Interesting, and ouch for investors.



Where have you invested? I have been following Nomadic Capitalist on Youtube for a while, only to get lost and confused at what he says half the time.. but looking abroad, especially somewhere warm has been an interest of mine.



I agree, but those platinum agents are hard to find!

You are more then welcome pm me and I will give you more details where I own my properties.

 

[storm rider]

I would make sure before I buy something that I'm the land title owner and I'm not just leasing the property.

As with any serious kind of investment you get a lawyer to take care of your best interests.I know of a gal (non sp) who bought a house with 125K down and assumed the mortgage and she "saved" money by using the sellers lawyer.About 6
months later she missed a payment and the seller took the house back and the down payment was lost all because she did not have her own lawyer.

You can actually lease land in Thailand long term for 30+ years but the caveat is when the lease is up the land reverts to the owner and anything built on it is theirs.If you are say in your 60's and want to retire somewhere tropical where
the cost of living is low and dont believe you will live to 100+ this works out for a lot of people.

SR

 

[florenceyi]

You can buy the condo or the house via lease, but you can't own the property itself or land if you are a foreigner. Same for investment purposes. Or you can co-own with a thai person but you have to do some paperwork.

Its the same in Vietnam as well. Foreigners cannot own property or land, but they can lease or rent condos/houses.

As with any serious kind of investment you get a lawyer to take care of your best interests.I know of a gal (non sp) who bought a house with 125K down and assumed the mortgage and she "saved" money by using the sellers lawyer.About 6
months later she missed a payment and the seller took the house back and the down payment was lost all because she did not have her own lawyer.

You can actually lease land in Thailand long term for 30+ years but the caveat is when the lease is up the land reverts to the owner and anything built on it is theirs.If you are say in your 60's and want to retire somewhere tropical where
the cost of living is low and dont believe you will live to 100+ this works out for a lot of people.

SR

Okay that is super interesting because I was interested in a lower priced southeastern asia just because of pricepoint and climate... other good options where owning is possible?

 

[maxic]

Btw in Pattaya city Thailand you can rent very nice condo for lower price what cost you here in Vancouver as maintenance fees monthly , foreigners are allowed to actually buy condo only, but of course visa requirements to live there rules have to be followed retirement visas after 50 etc ..should check out Jomptien Beach side of Pattaya city more quiet with tons of condos rent or for sale , personally I prefer the other side by Walking Street

 

[storm rider]

Okay that is super interesting because I was interested in a lower priced southeastern asia just because of pricepoint and climate... other good options where owning is possible?

I have only done my research on Thailand and the Phillipines thus far and I have discounted the latter due to the crime rate.

SR

 

[Foggy]

I agree, but those platinum agents are hard to find!

If you’re serious, PM me and I can hook you up with my guy. He’s an investor himself so he knows where the good ones are for your needs. I’m sure he won’t mind more business!