One bedroom or Two? Comparing Lower Lonsdale
One Bedroom or Two? Comparing Lower Lonsdale over 5 years!
I continue to look at the graph between 1 or 2 bedrooms in North Vancouver.
Which is a better investment, a 1 bed or a 2 bed?
For first-time home buyers, size versus price can be a big question. Do you buy a condo with two bedrooms at a price that might stretch you a bit, or do you choose a one-bedroom and have money left over for a life?
Larger units are more flexible and easier to rent but do they gain higher appreciation?
According to MLS, I am comparing Lower Lonsdale 1 and 2 bedrooms simply on a Sale median for the last 5 years on the North Shore.
LOWER LONSDALE, CENTRAL LONSDALE 5 YEAR GRAPH 1 BEDROOM = +40% over 5 years
PRICE PER FOOT in LOWER LONSDALE, North Vancouver since JAN 1 2017
1 BED Wood Structure – $551 Per Foot
1 BED Concrete Structure – $820 PF
2 BEDROOM Lower Lonsdale
2 BED Wood Structure- $690 PF
2 BED Concrete Structure- $897 PF
So the answer: A 1 bedroom was a better investment within the 5 year period in Lower Lonsdale…will this trend keep moving this way?
I like to look at demographics in a specific area and especially affordability. With the government subsidizing buyers with the new provincially backed loan program, I have already seen an influx of buying in the marketplace especially in the 1 bedrooms. I simply look at the economic stand point as well, the whole too much demand chasing too little supply.
Getting into the market and building equity is important….being a 1 bed or a 2 bed!
Comments
Post a Comment