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Choosing a pre-sale


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#21 MarkoJ

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Posted 14 June 2018 - 08:28 AM

Keep in mind pricing is also super important in this equation and we only really know the pricing for the Jukebox so far.


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#22 jonny

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Posted 14 June 2018 - 08:29 AM

I've heard that starting strata fees are often too low, particularly since there is a requirement to build up the CRF. Not sure if that is true though.

 

That's what people say. Yes and no, IMO. The CRF is a red herring, in my opinion.

 

Our fees are increasing 5% in year 2, which isn't too bad, really. 

 

Starting strata fees are essentially set by the developer. I suspect some developers try to keep these low. Our developer had some fat budget line items (IMO). We have saved in some areas. 

 

One major expense that grows and grows over time is elevator maintenance. Elevators are notoriously expensive to maintain and service.



#23 jonny

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Posted 14 June 2018 - 08:34 AM

Hi Everyone,

 

I'm rather new to Victoria, and am having a hard time discerning which areas of downtown are the best value. I'm looking at a one bedroom at Hudson place 1 vs the Jukebox on view street, or possibly the Ironworks. Sans price (though that may make my choice for me) what area/developments would you choose and why?

 

Thank you!

 

Best value as in cheapest? Probably Jukebox. HP1 will be the most expensive, sqft wise and strata fee wise. 

 

Cleanest - probably Jukebox

 

Quietest - probably Jukebox

 

Most metropolitan - HP1

 

Area with most potential - Ironworks

 

Nicest area today - Jukebox or HP1 depending on what "nice" means to you. Trees and nice neighbourhood streets nearby? - Jukebox. Core urban - HP1. 

 

Least likely to have major construction nearby for years and years - Jukebox. 

 

Least street people activity - probably HP1

 

Best views - definitely HP1

 

They're all pretty central, but HP1 would be more central, IMO. 



#24 Nparker

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Posted 14 June 2018 - 09:08 AM

...One major expense that grows and grows over time is elevator maintenance. Elevators are notoriously expensive to maintain and service.

Tell me about it. We replaced the elevator in my building last year and my share of the 40% that wasn't coming from the CRF was still more than $1100.



#25 jonny

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Posted 14 June 2018 - 10:21 AM

Tell me about it. We replaced the elevator in my building last year and my share of the 40% that wasn't coming from the CRF was still more than $1100.

 

Our monthly servicing is like $595 per month and this is with a "preferred" long-term deal with Thyssen-Krupp...

 

A friend of mine's building had to replace a motor in one of their elevators. It was something like $50k in parts + labour. Crazy. 


Edited by jonny, 14 June 2018 - 10:22 AM.


#26 nerka

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Posted 14 June 2018 - 11:43 AM

Our monthly servicing is like $595 per month and this is with a "preferred" long-term deal with Thyssen-Krupp...

 

A friend of mine's building had to replace a motor in one of their elevators. It was something like $50k in parts + labour. Crazy. 

These "preferred" long term deals don't always work to the advantage of the building



#27 lanforod

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Posted 14 June 2018 - 12:46 PM

Basically two companies share a duopoly in the elevator space, right? Otis and Thyssen-Krupp?



#28 Mike K.

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Posted 14 June 2018 - 12:49 PM

There’s also Richmond Elevator, Kone and Schindler in these parts.

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#29 Casual Kev

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Posted 16 June 2018 - 10:23 PM

Best value as in cheapest? Probably Jukebox. HP1 will be the most expensive, sqft wise and strata fee wise. 

 

Cleanest - probably Jukebox

 

Quietest - probably Jukebox

 

Most metropolitan - HP1

 

Area with most potential - Ironworks

 

Nicest area today - Jukebox or HP1 depending on what "nice" means to you. Trees and nice neighbourhood streets nearby? - Jukebox. Core urban - HP1. 

 

Least likely to have major construction nearby for years and years - Jukebox. 

 

Least street people activity - probably HP1

 

Best views - definitely HP1

 

They're all pretty central, but HP1 would be more central, IMO. 

 

An important consideration for Jukebox is that a good chunk of the units are under 500 sqft, with many sub-400 sqft studios. Could be an AirBnB hotspot, if that's a bother for someone buying to live in the building.



#30 Mike K.

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Posted 17 June 2018 - 09:02 AM

It can’t be used as such. The land was never zoned transient and the City will not allow the units to operate as standalone AirBnB’s.
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#31 Nparker

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Posted 17 June 2018 - 09:12 AM

It can’t be used as such. The land was never zoned transient and the City will now not allow the units to operate as standalone AirBnB’s.



#32 Mike K.

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Posted 17 June 2018 - 09:20 AM

Not! Thank you.

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#33 Casual Kev

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Posted 17 June 2018 - 04:57 PM

It can’t be used as such. The land was never zoned transient and the City will not allow the units to operate as standalone AirBnB’s.

oh that's interesting, took the opportunity to read about last year's bylaw changes while I was at it.

 

Do the other municipalities have similar restrictions or is it a Cov thing?



#34 Mike K.

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Posted 17 June 2018 - 07:17 PM

Just CoV so far.

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