04-07-2022, 01:28 PM
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#1601
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Franchise Player
Join Date: Apr 2004
Location: Calgary
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Quote:
Originally Posted by Jay's Beagle
What does it cost to infill a lot like that? So if you take the ridiculous asking price out and just the cost for demo and infilling?
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We looked at building using concrete, and the estimate was in the $900K range for 2000 sq ft + basement - that is like 1.5 years ago.
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04-07-2022, 02:06 PM
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#1602
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First Line Centre
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Quote:
Originally Posted by I_H8_Crawford
We looked at building using concrete, and the estimate was in the $900K range for 2000 sq ft + basement - that is like 1.5 years ago.
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$450psf for concrete construction doesn't sound too crazy (though I'm sure it is today)... Was this ICF, or... ?
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04-07-2022, 02:36 PM
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#1603
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Lifetime Suspension
Join Date: Jul 2012
Location: North America
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04-07-2022, 02:42 PM
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#1604
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Franchise Player
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Quote:
Originally Posted by I_H8_Crawford
We looked at building using concrete, and the estimate was in the $900K range for 2000 sq ft + basement - that is like 1.5 years ago.
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Sounds about right. I heard costs between $550K to $850K about 2-4 years ago with selling prices around $750-950K for 1800-2200 sq ft.
IIRC, the major difference in cost depended on the land ownership and whether the plot of land was large enough for 2 units rather than just 1.
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04-08-2022, 05:14 PM
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#1605
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#1 Goaltender
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Quote:
Originally Posted by GoinAllTheWay
This has to be a joke. I mean, parts look quite nice, but other parts are an absolute train wreck. 1.3 mil????
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If it's not a joke, I bet their neighbours are over the moon about this person selling.
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04-08-2022, 07:03 PM
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#1606
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Self Imposed Retirement
Join Date: Dec 2020
Location: Calgary
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I've been seeing a few new buildings coming available as rentals the last little while. That could be a good thing for people looking for a short term lease or even on going for a good price.
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04-08-2022, 07:26 PM
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#1607
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Franchise Player
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Quote:
Originally Posted by Macman
I've been seeing a few new buildings coming available as rentals the last little while. That could be a good thing for people looking for a short term lease or even on going for a good price.
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Have rents remained steady in Calgary? I imagine rental homes may have dropped in supply due to landlords selling; meanwhile I would guess rental condos are still relatively plentiful?
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04-09-2022, 07:27 AM
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#1608
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Lifetime Suspension
Join Date: Jul 2012
Location: North America
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04-09-2022, 07:35 AM
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#1609
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Franchise Player
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5 year bond prices which are the number one indicator for 5 year fixed rates hit a 11 year high yesterday.
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04-10-2022, 12:59 PM
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#1610
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wins 10 internets
Join Date: Feb 2006
Location: slightly to the left
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If you're looking for a tenant with mild hoarding issues and not so mild racist issues, then good news! "Super quick possession if assuming the tenant."
https://www.realtor.ca/real-estate/2...algary-bowness
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04-10-2022, 10:18 PM
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#1611
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Franchise Player
Join Date: Feb 2006
Location: Calgary AB
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Quote:
Originally Posted by Hemi-Cuda
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I saw this on reddit earlier today. Since then the realtor has removed the photo with the confederate flag in window but has not removed the picture of the bedroom with the nazi stromtropper sketch over the bed.
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04-11-2022, 09:52 AM
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#1612
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Scoring Winger
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Edit: Nm
Last edited by The Fisher Account; 04-11-2022 at 10:00 AM.
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04-15-2022, 05:23 PM
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#1613
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Lifetime Suspension
Join Date: Jul 2012
Location: North America
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04-16-2022, 02:23 AM
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#1614
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#1 Goaltender
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Condo prices - especially for older condos - still look quite affordable. I just picked up a condo in Mission for sub-$200,000. At a 3% borrowing rate, taxes of $100 per month and condo fees at $400 per month including all utilities, the monthly carrying cost is $1,000.
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04-16-2022, 07:26 AM
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#1615
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First Line Centre
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Quote:
Originally Posted by GullFoss
Condo prices - especially for older condos - still look quite affordable. I just picked up a condo in Mission for sub-$200,000. At a 3% borrowing rate, taxes of $100 per month and condo fees at $400 per month including all utilities, the monthly carrying cost is $1,000.
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So the mortgage payment must be $500 then, which means either a large down payment or long amortization
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04-16-2022, 10:50 AM
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#1616
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#1 Goaltender
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The interest repayment on a mortgage is $500 per month. The rest is forced savings
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04-16-2022, 11:53 AM
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#1617
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Franchise Player
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I guess it depends how you look at it. If it's an investment property, then the principal payments are definitely part of the ongoing costs (i.e. you need to come up with that money one way or another even if it's vacant). And obviously if the price drops those forced savings can evaporate (at least temporarily). On a 25 year 3% mortgage, a 10% drop in property value can wipe out the first 3.5-4 years of principal payments. With a 20% drop, your principal payments wouldn't cover the loss until year 8.
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04-16-2022, 01:11 PM
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#1618
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Franchise Player
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What do all these calculations look like at 6% - because that’s where we are going ��
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04-16-2022, 06:54 PM
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#1619
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Franchise Player
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Here's a question: is there anything being proposed to actually deal with the cost of BUILDING, as opposed to just buying property? Because that seems like it would help... maybe exempt new structures from sales tax, for example?
__________________
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04-16-2022, 07:17 PM
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#1620
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Franchise Player
Join Date: Aug 2008
Location: California
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Quote:
Originally Posted by CorsiHockeyLeague
Here's a question: is there anything being proposed to actually deal with the cost of BUILDING, as opposed to just buying property? Because that seems like it would help... maybe exempt new structures from sales tax, for example?
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Is cost of construction a problem?
In theory the price of bare land will just fluctuate to soak up any construction cost changes.
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