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Three bedroom condos in Victoria


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#1 YOYO

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Posted 06 October 2010 - 10:52 PM

My friend is looking for a 3-bedroom condo and i didn't know of any. Are there any 3-bedroom condo's in Victoria and if so, how many options does he have?

Price isn't an issue.

Thanks.



#2 D.L.

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Posted 06 October 2010 - 11:15 PM

Try the MLS.ca website. I think it allows you to set the number of bedrooms you want to search for.

#3 sebberry

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Posted 07 October 2010 - 11:55 AM

I'm sure there are plenty of three bedroom condos available. If you don't need a full third bedroom, 2 bedroom+den is also an option. The den is basically a bedroom with no window and usually smaller, but good for an office or excersize room.

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#4 VicHockeyFan

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Posted 07 October 2010 - 12:04 PM

A quick scan of MLS says 30 3-bedroom apartments for sale, 175 townhouses.
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#5 YOYO

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Posted 07 October 2010 - 05:37 PM

Thanks.

#6 sebberry

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Posted 07 October 2010 - 05:55 PM

If price truly isn't an issue, here's one for 4.2 mil :o

http://www.realtor.c...Key=-1136119518

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#7 Rob Randall

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Posted 07 October 2010 - 06:39 PM

^Car wash AND a pet wash?!

#8 sebberry

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Posted 07 October 2010 - 06:54 PM

^Car wash AND a pet wash?!


I didn't notice the pet wash the first time I looked at that. You'd think the hoity toity high-end condo owners would have banned those dirty animals :P

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#9 Szeven

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Posted 10 October 2010 - 05:30 PM

If price truly isn't an issue, here's one for 4.2 mil :o

http://www.realtor.c...Key=-1136119518


Back when there were open houses every weekend on that condo i went and looked at it for fun. Its a peice of junk, no way around it. Its 2 condos put together to make one, so the layout is very very strange. Half the condo is just 1 open room with 10 ft ceilings. Truly a waste imo. Shocked if it sold for more than 2-2,5 mill.

#10 Savannah

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Posted 11 October 2010 - 09:43 AM

My impression from being in two Bayview units (one condo, one townhouse) was that they were very solidly built.

There is indeed a pet-bathing station in the underground parking area.

#11 sebberry

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Posted 11 October 2010 - 09:50 AM

My impression from being in two Bayview units (one condo, one townhouse) was that they were very solidly built.

There is indeed a pet-bathing station in the underground parking area.


Pretty much anything made of concrete will be. I'm sure View Towers is more solidly built than my place :rolleyes:

Is the pet wash automated like a car wash? I'm not sure the dog would like it tho. I hope it is in the secured parking area or else the Pandora Green guys will be down there in a jiffy!

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#12 Mike K.

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Posted 23 December 2013 - 11:43 AM

Marko Juras looks into the issue of three bedroom condos in Victoria, or rather, the lack thereof.
 

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Disappearing act of the three bedroom condo
By Marko Juras, VibrantVictoria.ca
http://vibrantvictor...do-in-victoria/
 
As a REALTOR®, I often get asked why developers are not building three bedroom condos that cater to young families or those looking to downsize from single-family homes.  In a world of micro-lofts, studios, 500 square foot one bedrooms and 700 square foot two bedrooms, the three bedroom condo appears to have gone extinct in Victoria.  Other than the Sovereign’s $4.4 million penthouse, there is no new development in the downtown core currently offering a three bedroom condo.  Coincidentally, with the recent sales success of the Janion micro-lofts, does a market for the three bedroom condo even exist?
 
Economics
 
In the world of real-estate initial purchase price is the primary driver of buyer interest.  With new condos in downtown Victoria and periphery ranging from $400 to $600 per square foot, three bedroom condo prices would be targeted for a starting price in the highs $400’s and compete directly with townhomes or single-family dwellings in Victoria’s suburbs.  Then there are condo strata fees that range from $0.30 to $0.40 a square foot.  When equated to an 1,100 or 1,200 square foot condo owners are expected to pay approximately $330 to $480 per month in strata fees, which may not be financially appealing to young families or buyers downsizing on a fixed income.
 
A variety of other factors also come into play.  For example, buyers of three bedroom condos may desire more than one parking spot. However, most developments face parking constraints and will likely require the buyer to rent a second parking spot at anywhere from $100 to $200 per month, even higher, depending on the building’s location and demand for parking. [Full article]


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#13 lanforod

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Posted 23 December 2013 - 03:03 PM

The article is interesting. Some thoughts:

 

The cost of a unit that large should be a factor, but I don't think it is enough of one. There aren't really that many 3 bedroom condos in Vancouver either (excepting the super luxury ones like in the Shangri-La tower), but with the way house prices are there, you'd think 800k for a 3 bedroom condo would be appealing to a lot of people there. I think it comes down to developers not willing to take the risk.

 

Home maintenance < Strata fee, but IMO, only if you're not willing to do some work and learn some blue collar skills. Yes, financial discipline for home maintenance is required, but it's also required for condo's, or any home ownership. Levies suck, but do happen.

 

I don't get the profile family's claims about a 20 minute drive to both parent's work (okay, plausible, but 20 minutes of driving gets you a long way from Cedar Hill X/Richmond area, even in rush hour), and the kids' schools (not plausible unless doing certain private schools, there are a lot of schools close by) from north Oak Bay.



#14 jklymak

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Posted 23 December 2013 - 03:33 PM

As I said on another thread, we'd be happy to pay the same $/sqft that our place is worth for another 500 sqft and presumably a third bedroom.  There is some product like that, but it tends to be penthouses, and then you are paying for the prestige, better fittings, and taller ceiling.  There are a few other families in our building, and some of them are looking at moving on too as their families get larger.  Not sure if they want the house w/ the yard, but I would bet they would be very interested in something larger.

 

I've often thought about approaching a developer and seeing what they would charge for making a bigger unit in a building that is going up. However, the new condo market seems so skewed towards smaller cheaper units that I'd be concerned about having one of the most expensive units in a building that is going to be relatively transient in its occupants.  



#15 Mike K.

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Posted 23 December 2013 - 04:06 PM

If you were to approach a developer to discuss a larger unit they would likely recommend merging two units into one. Other than that developers will maintain identical floorplates until they reach the upper floors, so you can ask for more customization at that point but it'll be pricey.

 

Lots of older condos throughout the urban core are actually quite affordable and tend to be much larger than modern condos. You won't find many three bedroom units but they are out there and priced well below comparable new units. But then again you'll likely be looking at a $10k kitchen reno, a $5k bathroom reno and new flooring that will likely run you $3-$5k.


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#16 jklymak

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Posted 23 December 2013 - 04:11 PM

^ I've looked, pretty thoroughly, and there are very few 3-bedroom condos available right now.  There was one in the Savoy that we looked at, but then it turns out they have age restrictions.  There are some decent townhouses in Dockside Green and/or Railyards, and then there are some bigger units in the Bayside.  We might consider Vic West, but for now, would prefer to be cramped where we are.  



#17 Greg

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Posted 23 December 2013 - 06:47 PM

Two 3-bedroom units at the Sovereign...

http://www.thesovere...2/?by_type=true
http://www.thesovere...0/?by_type=true



#18 jklymak

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Posted 23 December 2013 - 07:50 PM

Hmm. I said the same cost per square foot as our current place, not double or triple!

#19 Greg

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Posted 24 December 2013 - 09:23 AM

Hmm. I said the same cost per square foot as our current place, not double or triple!

Original poster said "price is not an issue". :)



#20 G-Man

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Posted 24 December 2013 - 11:41 AM

Good article. I have often wondered the same thing. With two kids it is unfortunate that you are for the most part forced to live in a SFD or a run down old condo. I disagree with the person in the article that found their mortgage carrying costs would be less in a condo than an SFD. A three bedroom house in Victoria is pretty much assured to be 500k and a 3bd townhouse is likely going to be much more or much smaller. That said not having to worry about maintenance would be a nice bonus. There was a nice 3bd in the Falls a couple of years ago for 800k which I would moved into in a heartbeat with kids if I had the money to do it.


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