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Our region's most expensive houses


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#561 RPPB

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Posted 16 February 2018 - 12:28 PM

Now at $2,650,000.

#562 tjv

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Posted 16 February 2018 - 07:03 PM

up next....

 

http://www.pemberton...nington-Pl/2h8e

 

Cheap plumbing fixtures, cheap lighting fixtures ($20 canadian tire light fixtures over the main kitchen sink or at the front door or in the bedroom haha) no crown moulding, cheap baseboards, textured ceilings, drywall window returns, etc...all for only $2.6 million



#563 Mike K.

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Posted 16 February 2018 - 08:31 PM

With that listing you’re paying for 5 acres 15 minutes from downtown, not the light fixtures and base boards. That sort of stuff can be changed out in an afternoon.

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#564 lanforod

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Posted 16 February 2018 - 11:25 PM

up next....

 

http://www.pemberton...nington-Pl/2h8e

 

Cheap plumbing fixtures, cheap lighting fixtures ($20 canadian tire light fixtures over the main kitchen sink or at the front door or in the bedroom haha) no crown moulding, cheap baseboards, textured ceilings, drywall window returns, etc...all for only $2.6 million

 

Definitely an older home, but nothing that can't be fixed with 20k or so. Crown mouldings are passe when you've got tray and drop ceilings all over the place!



#565 Cassidy

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Posted 17 February 2018 - 07:44 AM

Also shows the perceived value of not being in the ALR, as homes on 10 acres just down the road on Brookleigh that are in the ALR have recently sold for much less ... with double the land size.



#566 tjv

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Posted 17 February 2018 - 08:37 AM

Definitely an older home, but nothing that can't be fixed with 20k or so. Crown mouldings are passe when you've got tray and drop ceilings all over the place!

you aren't fixing that house for 20k, not a chance.  you think you can get rid of spray textured ceilings for that cheap?

 

Anyway, regardless I thought it was overpriced, but maybe my house is worth $4 mil  :banana:



#567 Mike K.

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Posted 17 February 2018 - 08:38 AM

Arguably every home feels overpriced in this market. It’s insane what things are selling for, lol.
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#568 tjv

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Posted 17 February 2018 - 08:47 AM

^agreed, but compared to elsewhere in North America with a desirable place to live and the ability to work remotely Victoria BC is very cheap.  Even rents are dirt cheap


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#569 spanky123

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Posted 17 February 2018 - 09:55 AM

Also shows the perceived value of not being in the ALR, as homes on 10 acres just down the road on Brookleigh that are in the ALR have recently sold for much less ... with double the land size.

 

There are a 100 houses on 5 and 10 acre lots in that area. The ALR isn't really an issue.

 

In order to get $2.5M plus for a house (in my opinion) it needs to be turnkey and updated. This house looks like it hasn't been touched since it was built 20 years ago.  

 

You could easily spend $100K just updating the kitchen and bathrooms to the standard people would want here.



#570 Mike K.

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Posted 17 February 2018 - 10:25 AM

There’s room to negotiate, for sure.

But the value here is the land. It’s not the house.

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#571 Cassidy

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Posted 17 February 2018 - 10:34 AM

There are a 100 houses on 5 and 10 acre lots in that area. The ALR isn't really an issue.
 
In order to get $2.5M plus for a house (in my opinion) it needs to be turnkey and updated. This house looks like it hasn't been touched since it was built 20 years ago.  
 
You could easily spend $100K just updating the kitchen and bathrooms to the standard people would want here.


Of course the ALR is an issue when less than a quarter of a mile away from this house is a recent sale on double the acreage for half a million dollars less, and a much nicer updated house ... but in the ALR.

#572 dasmo

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Posted 17 February 2018 - 11:11 AM

ALR certainly matters if this has development potential. Otherwise it’s overpriced.... if it can be subdivided and have ten homes built on it that changes the equation.

#573 Mike K.

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Posted 17 February 2018 - 11:14 AM

It’s assessed at $2.44 million, so the sale price isn’t too far off. I imagine it’ll likely sell for $2.3.

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#574 dasmo

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Posted 17 February 2018 - 12:21 PM

It’s a huge property in what looks to me like a prime location to develop. Not sure what the zoning is there but half acre lots shouldn’t ruffle too many feathers....

Edited by dasmo, 17 February 2018 - 12:23 PM.


#575 dasmo

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Posted 17 February 2018 - 12:26 PM

So build 10 houses for 5 million, land 2.3 million, soft costs utilities 700k. 8 million. Sell each house for 1.5 million and BLAM 7 million!

#576 Cassidy

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Posted 17 February 2018 - 12:53 PM

ALR certainly matters if this has development potential. Otherwise it’s overpriced.... if it can be subdivided and have ten homes built on it that changes the equation.


Uhhh, yeah,that was my point.

Either I’m far too obtuse in my posts, or folks don’t actually read the posts they respond to.

#577 tjv

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Posted 17 February 2018 - 01:52 PM

First, assessed value.  I don't think assessed value means diddly squat.  I have never heard or seen BC Assessment go into houses to view the quality.  Its cheap to build the structure of the house, the little details all add up (eg.  $100 Home Depot toilet vs a nicer $500 toilet, $1/sf laminate vs $15/sf hardwood, etc, etc) and as a commercial contractor I know on that house I can tell they cheaped out on everything they could.  If everyone else thinks its worth money then hey I am not going to argue.  To each his own, its all good

 

Secondly, I am in an area where the lots vary from 2 to 5 acres and not that far from this particular house (5-10 min drive).  If someone on my street with a 5 acre lot were to propose a 10 lot subdivision all of my neighbors would be rioting in the streets, its just a fact.  Maybe you could do it there, but I kind of doubt it



#578 Szeven

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Posted 17 February 2018 - 02:19 PM

Of course the ALR is an issue when less than a quarter of a mile away from this house is a recent sale on double the acreage for half a million dollars less, and a much nicer updated house ... but in the ALR.


Which house are you talking about? 628 brookleigh? That house was in worse shape and finished much worse than the donington house. It was also 7.8 acres not 10.

Edited by Szeven, 17 February 2018 - 02:20 PM.


#579 dasmo

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Posted 17 February 2018 - 03:35 PM

Uhhh, yeah,that was my point.

Either I’m far too obtuse in my posts, or folks don’t actually read the posts they respond to.

Wasn’t arguing, I was adding....

#580 Sparky

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Posted 17 February 2018 - 05:50 PM

I hope this clears up the questions about zoning and minimum lot size.

 

I think the property you are discussing is on the rural side of the Urban Containment Boundary. Zoned A-1, minimum lot size 2HA

 

Map here. http://www.saanich.c...oundary-map.pdf

 

Rural Local Area Plan map page 80 here.http://www.saanich.c...ral_lap_web.pdf

 

We need to build a wall to keep the urbans out. :)



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