Cavatina Townhomes
8000 Bowcock Road, Richmond
List Price: $608,000 – $668,000 Floor Area: 1390-1540 Unit: 3 bed/2.5 bath and 4 bed/2.5 bath Condo Fees: ~$275
Located in Central Richmond, the Cavatina Townhomes are close to pretty much everything you would need, including transit, shopping, schools and community facilities. This 8-unit townhome complex has only 4 units remaining. Each has their own unique floor plan with a list of enhanced features including: side-by-side garages, patio area, ‘easy clean’ cabinetry, stone countertops, and Green Home rating for CMHC insurance rebate.
PROS
- Central location
- Close to a number of amenities
- Rooms are decent in size (Unit 4D has an extra large Master Suite)
- Each unit has a patio area and some have an additional deck on third floor
- 4-bedrooms have a option to have top floor as 4th bedroom, entertainment area or office
- In-house storage unit under stairs
- Children’s play area within complex
- Nice landscaping
- Bathrooms situated on every floor
CONS
- Units along #3 road may have louder/busy road traffic
- Not all units have side-by-side garage parking
- Number of stairs for 3-story units
- New units have to factor in GST and transitional tax
- Maintenance fees are on the higher side for new builds
- Kitchens are nice and open, but some feel a bit restricted in size
- Living area not especially large
MORTGAGE DETAILS
Show Suite: Layout 2B, 1540 sqft Purchase Price: $668,000 + 7% GST = $714,760
High Ratio Loan (less than 20% down payment) Interest Rate: 3.54% Amortization: 25-year Down Payment (5%): $35,738 CMCH fees: $18,673.10* Total loan: $697,695.10 Payment: $3,498 Approximate income required: $131,000 *CMHC Green Home rebate may apply (10% return)
Conventional Loan (20% or more down payment) Interest Rate: 3.45% Amortization: 30-year Down Payment (20%): $142,952.00 Total Loan: $571,808.00 Payment: $2,549 Approximate income required: $95,500
From my home to yours - Irene
