Differences between condo stratas and townhouse stratas
#1
Posted 12 January 2012 - 11:31 AM
ie, is there a general trend towards fewer restrictions in townhouse/rowhouse developments than apartment condos?
Thanks
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#2
Posted 12 January 2012 - 11:43 AM
#3
Posted 12 January 2012 - 11:55 AM
I've watched enough episodes of Property Virgins to know that even SFH developments with Home Owner Associations are subject to oppressive insanity.
I don't so much mind if there are restrictions on what colour I can paint my townhouse, but I would hate to move into a development only to have the strata start adding bylaws like no pets in the complex, no using your garage to repair your car, etc...
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#4
Posted 12 January 2012 - 12:09 PM
...are there any big differences between the structures of the stratas of townhouse and apartment style stratas? ie, is there a general trend towards fewer restrictions in townhouse/rowhouse developments than apartment condos?
My strata is made up of both condos and townhouses. With the exception of individual gas metering for the THs, the bylaws apply equally across all units.
#5
Posted 12 January 2012 - 12:20 PM
#6
Posted 12 January 2012 - 12:22 PM
#7
Posted 12 January 2012 - 12:35 PM
So I was trying to look up some townhouse prices in town and many don't seem any cheaper than a small house of a similar size. It almost seems like the worst of both worlds in some respects.
Victoria never really took to townhouses. That's why I dragged the MLS map up to Nanaimo
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#8
Posted 12 January 2012 - 12:39 PM
#9
Posted 12 January 2012 - 01:00 PM
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#10
Posted 12 January 2012 - 01:01 PM
#11
Posted 12 January 2012 - 01:12 PM
BC is one of the only provinces to have Strata titles. In most provinces you are a shareholder in the corporation that owns the building.
The importance of the strata title is that you have a direct registered interest in the property and as such as protected - you have an actual registered title. It means your place is more you place in BC than say Washington state or Manitoba.
Having the title to your interest in the land, together with the use of the Torrens system of land registry, provides people in BC with the strongest legal protection of their interests.
#12
Posted 12 January 2012 - 01:21 PM
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#13
Posted 12 January 2012 - 02:49 PM
So I was trying to look up some townhouse prices in town and many don't seem any cheaper than a small house of a similar size. It almost seems like the worst of both worlds in some respects.
Historical townhome developments in Greater Victoria were low end crappy construction, the best example of this is housing development between Burnside, the highway and Tillicum. Up until 2000, the cost to get into the market for a small house was low enough that there was little demand for townhomes as starter homes. I think that era is over and there is a pent up demand for good quality townhomes for first time home owners.
We have seen some very interesting high end townhome developments in this region in the last few years. Ironwood on Craigflower is one example, as is 675 Superior. The new brownstone looking places at 934 Craigflower are selling for $500.000, you can get houses in the neighbourhood that are cheaper than that.
#14
Posted 12 January 2012 - 08:51 PM
Surely there were years where Parkside was poorly managed, but that's a challenge every strata faces. Parkside was well built, is solid and dry, and new management and council have done a wonderful job of improving the space. The grounds are clean and well kept, all the buildings have new roofs and were repainted two summers ago. The financial health of the strata is very solid and you won't have to spend an extra $30k on parking.
There are 120 units, both condo and townhouse, on 5.5 acres with a heated in-ground pool and playground so there is a lot to manage, but with pride of ownership just about anything in possible.
Townhouses are a great option for many looking to get into the market, and with interest rates as low as they are, you won't find a better value anywhere in the region than Parkside and you would find the monthly mortgage payments to be hundreds less than renting something similar.
Proximity to downtown, a further-developed Tillicum mall, Costco, Uptown, Camosun - well just about everything, is a bonus. Bus routes everywhere, and even UVic is a straight shot up McKenzie.
Parkside Place FTW!
Matt.
#15
Posted 12 January 2012 - 10:22 PM
^ Exactly a strata property under the Strata Property Act is pretty much same across the building types.
+1
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
#16
Posted 12 January 2012 - 10:27 PM
New townhomes are in demand close to the core. The best example of this would be www.lansdownewalk.ca - sold out extremely quickly.
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
#17
Posted 12 January 2012 - 10:29 PM
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
#18
Posted 12 January 2012 - 10:36 PM
Sounds like you're not really getting away from the politics of condo living with a townhouse.
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#19
Posted 12 January 2012 - 10:41 PM
Sounds like you're not really getting away from the politics of condo living with a townhouse.
That's the point. If you have issues of living under rules meant to satisfy the various needs of a diverse group of individuals then ANY sort of strata titled property is probably not for you.
#20
Posted 12 January 2012 - 10:57 PM
That's the point. If you have issues of living under rules meant to satisfy the various needs of a diverse group of individuals then ANY sort of strata titled property is probably not for you.
My experience is that the rules are there to satisfy a small group of vocal people who want to meddle in everyone else's life.
Unfortunately not everyone can afford a SFH and must live under a strata of some sort.
Stratas: Where you have to put up with everyone else's crap but god help you if you ever step even one bit out of line
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