UBC offers a full range of housing options in five distinct neighbourhoods to provide a unique opportunity to live, work and learn in a truly integrated campus community.
 

When speaking with my clients, one of the most common questions I get is whether a condo or a townhome is the right choice. Although both condos and townhomes make for excellent choices when you’re living in UBC, every person has different living needs, which means you need to learn which option is suitable for you.


Fortunately, deciding between a townhome and a condo when you have the right information and a trusted local realtor like me on your side. Learn whether a condo or a townhome is the right option for you and find out how I can help you find great UBC homes that will meet your needs.


Ownership and Rules

The biggest difference between a condo and a townhome is in terms. If you live in a condo, the only thing that you own is the unit itself. Everything else, including common areas, is property of whoever owns the condo development. Townhomes, on the other hand, is simply a description of a type of house. With a townhome, you would own the entire property, including any yard space your property possesses.


Another factor to consider is the existence of a Homeowner’s Association (HOA). Virtually every condo development that you move to will have a HOA. However, this isn’t true for every townhouse. While your HOA will work to maintain the common areas, you will also have to pay dues and follow any rules for living in the development. HOA rules can include when you can access common areas, how you can decorate your home and how you dispose of trash.


Protecting Your Privacy

A factor to consider when choosing between a townhome or a condo is what level of privacy and security you’ll have access to. For example, both condos and townhomes have multiple shared walls, which means you may be able to hear your neigbours and your neighbours may be able to hear you as well. Ask about the thickness of a walls between of a townhome and condo make sure you’ll have your needed privacy.


When it comes to security, one of the main issues will be the location of your condo or townhome. Like I tell my clients, the safer the location, the safer the home. Fortunately, many condo developments come with advanced safety features like underground parking and security cameras. If you choose a townhome, you can install the same security options that you would in a free-standing home.


Tour UBC Homes with Help

Choosing between a condo and a townhome really comes down to what you want out of your home. For example, if you want all the excitement that comes from living in the heart of a city and in a low maintenance home, you should choose a condo. On the other hand, if you want the freedom to decorate or landscape your home as you see fit, then the better option for you is to move into a townhome.


If you’re ready to tour great UBC homes, including condos and townhomes, then you need to work with me, Sam Huang. I can tell you about the best UBC homes available and help you find the right fit for you. Contact me today so that we can get started your perfect home.

 


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Home sales and listings trends are below long-term averages in the Metro Vancouver* housing market. This is due largely to reduced activity in the detached home market.


Residential property sales in the region totalled 1,523 in January 2017, a 39.5 per cent decrease from the 2,519 sales recorded in January 2016 and an 11.1 per cent decrease compared to December 2016 when 1,714 homes sold.

Last month’s sales were 10.3 per cent below our 10-year January sales average.


“From a real estate perspective, it’s a lukewarm start to the year compared to 2016,” Dan Morrison, Real Estate Board of Greater Vancouver (REBGV) president said. “While we saw near record-breaking sales at this time last year, home buyers and sellers are more reluctant to engage so far in 2017.”


New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,140 in January 2017. This represents a 6.8 per cent decrease compared to the 4,442 homes listed in January 2016 and a 215.5 per cent increase compared to December 2016 when 1,312 properties were listed.


The total number of homes currently listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver is 7,238, a 9.1 per cent increase compared to January 2016 (6,635) and a 14.1 per cent increase compared to December 2016 (6,345).


The sales-to-active listings ratio for January 2017 is 21 per cent. This is the lowest the ratio has been in the region since January 2015. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.


“Conditions within the market vary depending on property type. The townhome and condominium marketsare more active than the detached market at the moment,” Morrison said. “As a result, detached home prices declined about 7 per cent since peaking in July while townhome and condominium prices held steady over this period.”


The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $896,000. This represents a 3.7 per cent decline over the past six months and a 0.2 per cent decrease compared to December 2016. 


Sales of detached properties in January 2017 reached 444, a decrease of 57.6 per cent from the 1,047 detached sales recorded in January 2016. The benchmark price for detached properties is $1,474,800. This represents a 6.6 per cent decline over the last six months and a 0.6 per cent decrease compared to December 2016.


Sales of apartment properties reached 825 in January 2017, a decrease of 24.7 per cent compared to the 1,096 sales in January 2016.The benchmark price of an apartment property is $512,300. This represents a 0.3 per cent increase over the last six months and a 0.4 per cent increase compared to December 2016.


Attached property sales in January 2017 totalled 254, a decrease of 32.4 per cent compared to the 376 sales in January 2016. The benchmark price of an attached unit is $666,500. This represents a 0.4 per cent decline over the last six months and a 0.7 per cent increase compared to December 2016.

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