Most Vancouverites who recently purchased or plan to buy a condo say they’d prefer a house if they had more money.

That’s the finding of the TD Canada Trust Condo Poll, which found that 64 per cent of Vancouverites, versus 46 per cent of Canadians, cited affordability of condos is a big attraction.

That was also true for respondents nationally under 35, with 62 per cent liking the affordability of condos, versus 46 per cent of other age groups.

According to the poll, which was released Tuesday, Vancouverites were also more likely than those surveyed in other cities to consider buying a condo with a friend to make it more affordable.

However, condos are also more likely to be seen by Vancouver residents as a stepping stone, with many planning to move up to a house in the future.

According to the survey, half of Vancouver respondents expect to live in their condo for three years or less (18 per cent) or four to six years (32 per cent).

Nationally, 22 per cent of those under 35 said they don’t plan to spend more than three years in a condo, while 45 per cent plan to move after four to six years.

However, it was a different story with those over 50, who say condos fit into their plans to downsize their home. As well, 31 per cent of those over 50 nationally said they don’t plan to move again from their condo and 53 per cent plan to spend more than $10,000 on upgrades (compared to just 15 per cent under 35).

“Moving to a smaller, less expensive home can free up money to allow pre-retirees to make some upgrades and enjoy a bit more luxury in their space,” Barry Rathburn, TD Canada Trust’s manager, residential mortgages, said in a statement.

“It’s especially important for those who are selling their home to downsize as part of their retirement strategy to make a budget for any upgrades and stick to it.”

The poll found that 98 per cent of Vancouver residents named good building security as the most important feature to look for in a condominium.

As well, 96 per cent said low condo fees was the second most popular feature, with 84 per cent saying they would not pay more than $400 a month n condo fees.

Energy efficient buildings also ranked high.

The online survey of 806 people in Vancouver, Calgary, Toronto and Montreal was conducted from March 25 to April 11 by Environics Research Group.

Respondents had either bought a condo in the past 24 months, intend to buy a condo in the next 24 months, or considered a condo when shopping for a home.

Source: Brian Morton, Vancouver Sun

Condominiums have become a hot sector of the Canadian real estate market, particularly as an option for first-time home buyers spooked by high prices for single-family homes, says a report released Monday.

Real estate services firm RE/MAX says affordability, lifestyle, investment opportunities and urban renewal efforts are among the reasons condo sales have spiked over the last year in some Canadian markets.

“As one of few affordable housing options available to first-time buyers, the concept is poised for dramatic growth in years to come,” Michael Polzler, executive vice-president for RE/MAX’s Ontario-Atlantic Canada operations, said in a statement.

RE/MAX said condo sales in the Greater Toronto Area are up 10.4 per cent, year-to-date, as of September, and now represent one out of every three homes sold there. In Ottawa, condo sales are up 11.9 per cent.

“The lifestyle has also gained a foothold with younger, hipper audiences as the definition of home ownership evolves with the changing demographic,” Polzler added. “Dreams of the small home with a white picket fence are being replaced by the funky loft apartment in proximity to shops, restaurants and entertainment.”

Price comparisons provided by RE/MAX for Ottawa showed the average price for condominiums had risen 12.9 per cent to $252,641 over the last year, but was still more than $100,000 cheaper than the average price of $366,587 for a single-family home.

While the RE/MAX report focused specifically on Ontario and Eastern Canada, Gregory Klump, chief economist for the Canadian Real Estate Association, said condo sales are becoming a bigger share of more expensive housing markets across the country, such as the Toronto and Vancouver real estate markets.

“(Condos) have been accounting for a greater percentage over time of all sales activity,” Klump said. “Condo units are an affordable alternative to single-detached home ownership.”

The RE/MAX report said other factors driving the condo market include urban redevelopment that favours intensification over urban sprawl, empty-nesters seeking low-maintenance retirement properties and investors hoping to sell when prices appreciate, the report said.

RE/MAX said the “vast majority” of newly built condominiums in Toronto are purchased by long-term investors from Asia and the Middle East, who will often rent them out until they find their desired sales price.

Read more: http://www.canada.com/business/Condominium+market+Canada+heating/3757559/story.html#ixzz16GysmzBG

Written by: Derek Abma, The Vancouver Sun (c)

Just listed on BestHomesBC.com is a condo for sale in the Atelier on Robson in downtown Vancouver. This home has 2 bedrooms, 3 bathrooms plus a den and the apartment comprises 1,180 square feet.

The “03″ plan is a rare opportunity in the Atelier on Robson. A new landmark building in the heart of Vancouver.

Situated across from the Vancouver Public Library and off Robson Street with top quality finishes, the interior is designed by Robert Ledingham along with a fabulous floor plan which brings living in a downtown apartment to a different dimension.

The architecture takes into consideration the surroundings and the interior provides every need for the city dweller.

Two large bedrooms and a den. Two and a half luxurious bathrooms. An entertainment size living room and dining room with eating area or an extra flex place.

Atelier on Robson comes with 24-hr concierge, a fully equipped gym, a steam room, high security and is steps to EVERYTHING that Vancouver offers.

Please follow this link, Atelier on Robson condo for sale in downtown Vancouver, to view the property’s details and to contact the Realtor, Fioretta Wilinofsky of Sutton Group West Coast Realty, directly.

Just listed on BestHomesBC.com is the best 2-BEDROOM and DEN condo in KITSILANO!

This apartment has been fully renovated: Amazing gourmet kitchen with stainless steel appliances, designer countertops and glass mosaic backsplash, the dining and living room are huge and accommodates oversized furniture plus a gas fireplace. The solarium has been converted into an awesome den/office. The master bedroom is large and the 2nd bedroom is a good size. The bathroom is very high end. Insuite laundry and lots of closets. Beautifully dark wood floors throughout. Huge personal storage closet across the hall as well as a large meeting room.

Building has been rainscreened with warranty. Prepaid land lease. 1 secured parking. Huge common roof deck. Hurry on this one!

Please follow this link, Kitsilano condo for sale, to view the property’s details and to contact the Realtor, Mario Felicella of Sutton Group WestCoast Realty, directly.

Just listed on BestHomesBC.com is a 2-Bedroom + Den + 2-Bathroom condo at the BRAVA at the very core of Vancouver’s Downtown district.

This 820 sq.ft. condo is a unique opportunity with a great open floor plan with bedrooms on separate sides of your living space. A vision of every room from the minute you walk into the unit. Granite countertops, stainless steel appliances, hardwood flooring throughout.

Amazing English Bay, False Creek, mountain and city light views from the 30th floor. Centrally located downtown with easy access to every arm of the D/T core. Great amenities in the building and an external locker included.

The Brava building features all-inclusive amenities, such as a rooftop pool, games room and theatre, gym, rooftop patio, and sauna!

All that in the very heart of amazing cityscape, and with plenty of room to spare in this spacious condo that features some of the most luxurious finishes and features.

All furniture in the unit is also offered in the asking price.

Please follow this link, Brava condo in downtown Vancouver, to view the property’s details and to contact the Realtor, Darin Chamberlain of Sutton Group WestCoast Realty, directly.

Just listed on BestHomesBC.com is a 1-bedroom condo for sale in Kitsilano’s Maple Gardens complex.

Totally renovated in 2006 with new paint, dark laminate floors throughout, new kitchen including dark cabinets, granite countertops and stainless steel appliances, bathroom with slate floors and raised basin, insuite front loading laundry. 1 parking and 1 storage locker. New roof and boiler in 2005.

Great location in Vancouver’s popular Kitsilano neighbourhood, just steps from shopping (4th Ave and Broadway), transit, restaurants and Kits Beach. Pets and rentals OK.

Please follow this link, Maple Gardens Kitsilano Condo, to view the property’s details and to contact the Realtor, Angele L’Abbe of Sutton Group – West Coast Realty, directly.